June 27, 2012 Vancouver, Canada - Fire River
Gold Corp. [TSXV: FAU | OTCQX: FVGCF | FSE: FWR]
(the "Company") today announced that it has
appointed R. David Russell, the Company's Non-Executive Chairman, as
Interim President and CEO while the Company finalizes its review process
and discussions with potential CEO candidates.
Mr. Russell will assume the full responsibilities of a chief executive
officer until such time as a permanent president and CEO is recruited.
Mr. Russell has over 35 years' experience in the mining industry
including a variety of operating, executive and board positions. Mr.
Russell's previous positions include, Founder, President and CEO of the
former Apollo Gold Corporation, (now, Brigus Gold Corp. after the June
24, 2010, Apollo Gold and Linear Gold Merger). Mr. Russell was Vice
President and COO for Getchell Gold Corporation, a Nevada gold producer,
with production of 200,000 ounces of gold. Getchell Gold was acquired by
Placer Dome Inc. in 1999 for $1.1 Billion. Prior to working at Getchell,
Mr. Russell was VP of US Operations for LAC Minerals Ltd. and, after
their acquisition by Barrick Gold Corporation.
"We are very pleased that Mr. Russell has stepped in as Interim
President and CEO while the Company transitions through these management
changes", said Fred Sveinson, Director of the Company.
Separately, R. David Russell and the board
of directors has determined it is in the best interest of the Company to
postpone and re-evaluate the previously announced equity offering as
noted in a press release issued on June 11, 2012. Once the Company's
financial requirements are fully reviewed a decision may be taken to
reactivate an equity offering at a future date.
The Company anticipates issuing several
company updates over the next several weeks.
On behalf of the Board of Directors
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.