July 27, 2010. Vancouver, Canada -
Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or
the "Company") is pleased to announce a diamond drill program of up to
28,000 metres has commenced at its Nixon Fork Gold Mine. Drilling is
commencing on surface targets, particularly lateral or down plunge
extensions of known mineralized zones which have the potential to
provide additional resources to the mill. These types of targets include
the Whalen, North Star, Mystery, Southern Cross, and J5A.
Following the Company's
surface program, underground drilling will begin
within the Crystal decline. The drill program is
designed to expand resources, particularly in the
area of the 3300 zone, as well as test three to four
prospective zones. Mr. Will Beach, our newly hired
underground supervisor, has examined the workings of
the Crystal decline and found them to be in
excellent condition, with only minor cleanup needed.
Mr. Beach states, "The Crystal decline and
associated levels can be ready for drilling
"This is an exciting time for the project. We have
been very encouraged by the impressive grades in our
re-evaluation work and this drill program will allow
us to test and demonstrate our understanding of the
ore body." Richard Goodwin, VP Mining.
Cabo Drilling Corporation of North
Vancouver, British Columbia has been contracted for this work which will
be conducted by a B20 equipped, customized Mini Mite drill rig. The rig
is capable of both surface and underground drilling.
Drill Hole Sampling and Assaying Procedures
Samples will be taken primarily from NQ2 sized drill core. The selected
sample intervals will be halved by diamond saw which will be bagged,
numbered and sent to ALS Chemex laboratory of Fairbanks, Alaska. FAU
logging staff will conduct a rigorous Quality Control and Quality
Assurance program which will include Standards, Blanks, Checks and
Duplicates as well as Screen Metallics sampling with ore zones. Check
Assays will be forwarded to Acme Analytical of Vancouver. Both ALS
Chemex and Acme Analytical laboratories are ISO 9001/2000 accredited.
About Cabo Drilling Corp.
Cabo Drilling Corp. is a drilling services company headquartered in
North Vancouver, British Columbia, Canada. The Company provides mining
related and specialty drilling services through its Canadian divisions
in Surrey, British Columbia; Montréal, Quebec; Kirkland Lake, Ontario;
and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de
C.V. of Hermosillo, Mexico; Cabo Drilling (Panama) Corp. of Panama,
Republic of Panama; Cabo Drilling Spain S.L. of Sevilla, Spain; Balkan
States Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling
(International) Inc. The Company's common shares trade on the Frankfurt
Exchange under the symbol: DHL and on the TSX Venture Exchange under the
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with an
experienced 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 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. In July 2010 FAU
announced a diamond drill program of up to 28,000 metres initially
focusing on surface targets, particularly of known mineralized zones
which have the potential to provide additional resources to the mill.
The underground drill program is designed to expand resources,
particularly in the area of the 3300 zone, as well as test three to four
prospective zones. 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,
President and C.E.O.
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