November 24, 2010. Vancouver, Canada -
Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or
the "Company") wishes to announce that further to the news release dated
October 21, 2010, regarding a non-brokered private placement of
15,555,555 units for total proceeds of $7,000,000, the Company wishes to
increase the financing of the non-brokered private placement to
18,888,888 units for total proceeds of $8,500,000 subject to regulatory
The increased portion of the private placement will be used for ongoing
development work on the Nixon Fork Gold Mine in Alaska and general
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 1.14 opt (39 gpt). Facilities at the Nixon Fork Gold
Mine include a 200 tpd flotation plant with a gravity gold separation
circuit and a sulphide flotation circuit. In 2008, a CIL gold leaching
circuit was purchased and partially 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 1.2 km long landing strip.
Fire River Gold
Corp 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 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. The TSX Venture Exchange or its Regulation Services
Provider have not reviewed and do not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been prepared
by management. We seek