VANCOUVER, Jan. 7, 2013 /CNW/ - Fire River Gold Corp. (TSXV: FAU),
(OTCQX: FVGCF), (FSE: FWR) (the "Company") has entered into an amending
agreement dated December 30, 2012 (the "Amending Agreement") with
Waterton Global Value, L.P. ("Waterton") pursuant to which it has
amended the terms of its senior secured gold stream credit agreement
dated March 30, 2012 as amended July 18, 2012 (the "Credit Agreement")
between the Company and Waterton.
Under the terms of the Amending Agreement, Waterton has agreed to an
extension of the first repayment date from December 31, 2012 to July
31, 2013. In consideration for the amendments, the Company must pay to
Waterton $1,200,000 ("Additional Payable Amounts"). Subject to meeting
certain conditions, the Company may be required to make payments to
Waterton for the Additional Payable Amounts beginning May 2013.
Notwithstanding any payments that may be made in 2013, the Company must
pay $600,000 on January 31, 2014, less any payments made in 2013, and
the remaining $600,000 on October 31, 2014.
All other terms of the Credit Agreement remain in effect.
The foregoing is subject to the approval of the TSX Venture Exchange.
About Fire River Gold
Fire River Gold Corp.'s flagship property is the wholly owned Nixon Fork
Gold Project located in the Tintina Gold Belt, Central
Alaska. Operations at Nixon Fork commenced in July 2011. Nixon Fork is
a past producing mine with a high grade production history, and a low
capital requirement due to pre-existing infrastructure. The mine
operates year-round producing both gold concentrate and doré bars.
District scale exploration potential provides additional upside for the
ON BEHALF OF THE BOARD OF DIRECTORS
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
Blane W. Wilson
President and CEO
Cautionary Statement Regarding Forward-Looking Information
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.
This news release contains forward-looking statements regarding the
business and operations of Fire River Gold. In particular, statements
regarding use of proceeds and production targets in the upcoming years
are forward-looking statements. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from Fire River's plans or expectations include risks
relating to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other
risks detailed herein and from time to time in the filings made by Fire
River with securities regulators. Fire River expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
SOURCE: Fire River Gold Corp.
For further information:
FIRE RIVER GOLD CORP.
Kimberly Ann, Corporate Communications
Telephone: (604) 261 0580