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Fire River Gold Closes First Tranche of Financing For Proceeds of $3,625,500
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FAU news May 17 2010
May 17, 2010. Vancouver, Canada -- Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") wishes to announce that further to its news release of May 4, 2010, and April 16, 2010, the Company has now completed its first tranche of its non-brokered private placement and accordingly has issued a total of 9,063,750 units (the "Units") at a price of $0.40 per Unit for gross proceeds of $3,625,500. Each Unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a purchase price of $0.60 for a period of 18 months. In connection with this closing of the first tranche of this financing, the Company has paid a total finder's fee consisting of an aggregate of $130,675 in cash. The securities issued in connection with this closing are subject to a hold period that expires on September 12, 2010.

The funds from the private placement will be used for the exploration and development of the Nixon Fork Gold Mine in Alaska, and for general corporate purposes.

About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing its flagship project: the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt). Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group (www.internationalmetalsgroup.com).
 

On behalf of Board of Directors,

"Harry Barr"

Harry Barr
President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbour.

 
 

You can view the Next News Releases item: Wed May 26, 2010, Fire River Gold Corp. Previously Announced Non-Brokered Private Placement Oversubscribed

You can view the Previous News Releases item: Thu May 13, 2010, Fire River Gold Announces 1.4 opt (47 g/t) gold over 13 ft (4 m), Nixon Fork Gold Mine, Alaska

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