| | | Fire River Gold Closes Non-Brokered Private Placement For Total Proceeds Of $7,407,663 | 
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FAU news April 8 2011
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April 8, 2011, Vancouver, Canada - Fire River Gold Corp. (TSX.V: FAU;
OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") is pleased to
announce that it has closed its second and final tranche of its
previously announced financing raising gross proceeds of $7,407,663.
The Company issued 10,390,326 Units on April 8, 2011. Each unit consists
of one common share and one-half of one non-transferable share purchase
warrant. Each whole share purchase warrant entitles the holder to
purchase one common share of the Company at a price of $0.70 per share
for 18 months, subject to an accelerated expiry provision, such expiry
may be accelerated to 30 days in the event the Companyʹs shares have
closed at or above a price of $0.90 per share for 10 consecutive trading
days on the TSX Venture Exchange. All common shares issued in connection
with this closing carry a legend restricting them from trading until
August 9, 2011. The Company paid $244,847.50 in finder's fees in
connection with this closing.
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 in 2011. The Nixon Fork Gold
Mine is a permitted and bonded mine which include a ~200 tpd processing
plant with a gravity gold circuit, sulphide flotation circuit and a gold
recovery system (CIL circuit) that is scheduled to be completed by
Summer 2011. The mine also includes a fleet of surface & underground
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. A 28,000 metre exploration and ore definition drill
program is in progress to expand the current resources and support the
detailed mine plan.
Fire River Gold is a member of the International Metals Group
(http://www.internationalmetalsgroup.com).
On behalf of the Board of Directors, I look forward to keeping you
updated with our corporate developments. |
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"Richard Goodwin"
Richard Goodwin
President and COO
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
safe harbour.
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| | You can view the Next News Releases item: Wed Apr 13, 2011, Fire River Gold Announces 16.7 g/t (0.49 opt) Gold Over 8.8 m (28.9 ft) At Nixon Fork Gold Mine, Alaska
You can view the Previous News Releases item: Wed Apr 6, 2011, Fire River Gold Announces 108.0 g/t (3.15 opt) Gold Over 2.4 m (7.9 ft) At Nixon Fork Gold Mine, Alaska
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