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September 7, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V:
FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") is pleased to
provide this update on its 28,000 metre diamond drill program at its
Nixon Fork Gold Mine. The Company has been using a contract drill rig on
surface through the month of August to define two zones of
mineralization located approximately 2 km south of the Crystal Mine,
called the North Star and Whalen deposits, which have the potential to
provide additional resources to the mill. This drill will be adapted to
underground drilling and moved into the Crystal mine on the completion
of the surface program, tentatively planned for late November.
The Company chose to augment and provide an early start to the
underground portion of the program by staffing a company-owned drill, a
Hagby Onram 1000/3 that was purchased and used by the prior operator in
the 2007/2008 drill program.
The early performance of the drill crews has prompted the Company to
seek out and purchase a second unit and expand the mining department to
accommodate four shifts of drilling per day. At present, the mine has a
staff of nine mine workers, which will be expanded to accommodate this
program.
All underground drilling will be from existing development and is
designed to expand resources, particularly in the area of the 3300 zone,
as well as test three to four prospective zones.
"This is a small but significant step for the Company, and several
more will have to be taken before this mine is put back into production.
However, it clearly demonstrates our commitment to manage our own mine
and the confidence I have that we can." Richard Goodwin, VP Mining.
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 by Spring/Summer 2011. The
Nixon Fork Gold Mine is a 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 (www.internationalmetalsgroup.com).
On behalf of the Board of Directors,
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"Harry Barr"
Harry Barr
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
safe harbour.
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