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June 6, 2011 Vancouver, Canada - Fire
River Gold Corp (TSXV: FAU) (OTCQX: FVGCF) (FSE: FWR) ("FAU" or the
"Company") is pleased to announce results obtained from additional holes
drilled during its 2011 drill program at the Nixon Fork Gold Mine,
situated in Alaska's Tintina Gold Belt. The Company has received and
confirmed assay results from drill holes N11U-038 to N11U-054 at the
3300 Zone. Complete listing of the drill hole intercepts are provided in
Table 1. The widths of the intercepts are approximate to the true
width of the mineralized intercept.
Table 1. Results from Holes N11U-038 to N11U-054
The Company is currently operating two
drills continuously in the Crystal Mine. They are primarily focussed on
detailing mineralized zones scheduled for the first six months of
mining, beginning in June 2011. This includes filling in gaps in
mineralization and extending open zones along strike and dip. Diamond
drill holes N11U-038 through N11U-054 were successful in expanding known
resources surrounding the 3300 ore body. Following trends suggested by
earlier drilling, these not only confirmed additional mineralization but
also support the validity of our new deeper understanding of the geology
of this deposit. The following illustrations demonstrate how these
diamond drill holes show new zones of mineralization outside of
previously modelled areas. Figure 1 shows the block model in green,
representing +10 g/t gold grades at the base of a shrinkage stope
located at 235 mASL (meters above sea leve) in the 3300 zone. Figure 2
shows the 1g/t grade shell in the upper portion of the 3300 zone at 385
mASL, which will be a longhole stope. Both stopes will provide mill feed
during the first six months of operation.
Figure 1: Definition Drilling at 235 mASL
in the 3300 Zone
Figure 2: Definition Drilling for the 385
Longhole Stope, 3300 Zone
Fire River Gold Corp will continue its
active drilling program ahead of advancing mining and adding to previous
discoveries. With the coming of summer we will now pursue exploration of
additional targets as our surface-drilling program commences. Quality Assurance and Quality Control (QA/QC)
 Rigorous
controls are in place to ensure the traceability of samples and their
results.
Upon delivery core is prepped and logged with intervals of interest
and/or mineralization marked for sampling. The core is subsequently
photographed prior to cutting. Half the core is retained for future
reference and the remaining half placed in double poly bags and sealed
for shipment. Samples are delivered to ALS Chemex in Fairbanks, AK where
they are dried, crushed, and representative splits are transported to
ALS Chemex labs in Reno, NV or Vancouver, BC for assay. ALS Chemex
complies with the requirements for the International Standards ISO
9001:2000 and ISO 17025:1999. Analysis includes Fire Assay with
gravimetric finish for gold and ICP for 33 other elements. Gold assays
results greater than 5 ppm are automatically re-submitted for screen
metallic analysis.
QA/QC is verified using external standards,
blanks, and duplicates with 13% of all samples submitted being QA/QC
check samples. Results are examined ensuring control samples fall within
2.5 standard deviations of certified values. Failed results are
re-analyzed by the lab and/or additional samples from the remaining core
are submitted for analysis.
Nixon Fork Gold Mine
The Nixon Fork Gold Mine was acquired in September 2009. From 1995 -
2007, the project produced approximately 175,000 ounces of gold at an
average grade of 39 grams per ton (1.14 opt). The mining and processing
facilities at Nixon Fork are permitted and bonded. The deposit is a
gold-rich copper silver skarn typical of other skarn systems found
throughout the world. At Nixon Fork, the higher grades are found in
steeply plunging pipe-like bodies that are oxidized to depths of up to
350 meters below the surface. Oxidization of the system has resulted
both in secondary copper and gold, with high grades and a "nuggety"
distribution.
The Qualified Person for this news release
is Richard Goodwin, P.Eng, President & C.O.O for Fire River Gold.
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 Summer 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.
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.
"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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