June 30, 2010. Vancouver, Canada -- Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR)
(the "Company") wishes to announce that it has generated $1,082,507 of revenue from a mill clean up program at its Nixon Fork Gold Mine in Alaska. Approximately 513 kg of material was removed from behind the liners of the ball mill. This material is comprised of ground ore from mining operations, steel fragments from liner wear and worn down milling balls.
A total of 900.5 ounces of gold was recovered from 373 kg of this material. The remaining 140 kg of material is comprised of steel balls and the coarsest fraction of the mined ore. The gold content in this remaining material is not known at present. This material is being leached and payment for this fraction is expected by mid-July.
Proceeds from this sale will be used to fund ongoing exploration and development of the Nixon Fork Mining Project.
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). Facilities at the Nixon Fork Gold Mine include a 200 tpd floatation Plant with a gravity gold separation circuit and a sulphide floatation circuit. In 2008, a CIL gold leaching circuit was purchased and approximately 60% installed. The mine also includes a fleet of mining vehicles, a self-contained power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.5 km long landing strip. 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
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
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