VANCOUVER, June 27, 2012 /CNW/ - 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
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.
SOURCE Fire River Gold Corp.
For further information:
Tel: 604 261 0580
Email:email@example.com or visit www.firerivergold.com
Suite 340-1200 West 73rd Ave, Vancouver, B.C., Canada V6P 6G5