June 29, 2012 Vancouver, Canada - Fire
River Gold Corp. [TSXV: FAU | OTCQX: FVGCF | FSE: FWR] (the
"Company") today announced it has entered into an amendment agreement
dated June 22, 2012 (the "Amendment Agreement") with Waterton Global
Value, L.P. ("Waterton") pursuant to which it has amended the terms of
the Senior Secured Gold Stream Credit Agreement dated March 30, 2012
(the "Credit Facility") between the Company and Waterton. Under the
terms of the Amendment Agreement, Waterton has agreed to increase the
Credit Facility by making available to the Company, $1,500,000 (the
"Additional Facility") as a single advance and non-revolving loan. The
principal amount of the Additional Facility is to be repaid by the
Company on the earlier of (i) the date on which the Company closes its
next equity offering of its common shares, and (ii) August 1, 2012. As
part of the Additional Facility, the Company paid Waterton a two percent
(2%) cash structuring fee and will issue 2,250,000 share purchase
warrants ("Warrants") to Waterton, at an exercise price of $0.10 per
Warrant and the Warrants will expire three years from the date of issue.
The Warrants are subject to a four month hold period in accordance with
applicable Canadian securities laws. All other terms of the Credit
Facility as disclosed in press releases dated April 4, 2012 and April
23, 2012 remain in effect.
The foregoing is subject to TSX Venture
On behalf of the board of directors.
"R. David Russell"
R. David Russell,
Interim President and CEO
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.