Fire River Gold Closes Non-Brokered Private Placement For Total Proceeds Of $7,407,663

FAU: TSX.V
FVGCF: OTCQX
FSE: FWR

VANCOUVER, April 8 /CNW/ - 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 (www.internationalmetalsgroup.com).

On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.

(signed)

Richard Goodwin
President & COO

Disclaimer:
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. 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 accuracy of this release. We seek safe harbour.


SOURCE Fire River Gold Corp.

For further information:

Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email:  info@firerivergold.com or visit www.firerivergold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3

Profil de l'entreprise

Fire River Gold Corp.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.