February 1, 2010, Vancouver, Canada
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Fire River Gold Project Update -- Nixon Fork Gold Mine, Alaska Winter 2010.
Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") is pleased to provide an update for the Company's Nixon Fork Mine, in Alaska. About Fire River Gold Corp.Fire River Gold Corp. is a junior exploration/development company focused on North American gold projects with a specific emphasis in Alaska. The company's management team has extensive experience in all aspects of project acquisition, exploration, and development and has over one hundred years of combined experience working in Alaska. Fire River Gold is publicly traded in Canada on the TSX Venture Exchange (FAU), in Germany on the Frankfurt Exchange (FWR) and on the United States' OTCQX Exchange (FVGCF). The recently acquired Nixon Fork Gold Mine in Alaska has the potential to be a near term gold producer. Management's objective is to make FAU a North American gold producer in the next 18 months. The Company is presently negotiating additional advanced stage gold projects in North America.Nixon Fork MineThe Company's main focus is the gold-copper-silver Nixon Fork Mine, Alaska, which was acquired in August of 2009. A former high-grade gold mine, it produced approximately 145,000 ounces of gold at a production average of 42 grams per ton (1.4 opt). This turn-key, mining-milling project is a fully operational mining facility that includes a 200+ tpd flotation plant with a gravity gold separation circuit. In 2008, a complete CIL gold leaching circuit was designed and purchased with approximately 60% installed to date. The mine also includes a fleet of mining vehicles, a self-contained diesel power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.2 km long landing strip. "Mining and processing operations at Nixon Fork are fully permitted and bonded."2010 Re-evaluation Program in ProgressIn 2009 the company began a $1.25M evaluation of the project to confirm the status of the geological work, confirm both the gold grade from the tailings pond, and further metallurgical through testwork. The evaluation program is continuing into 2010, with key milestones including a determination of a go, no-go decision for completing the CIL circuit to process tailings in March/April 2010; defining exploration targets for underground and surface drilling commencing in May; the preparation of a new resource estimate for the property by fall 2010, and the determination of a go, no-go decision for the resumption of underground mining by the end of the year.Click HERE to view entire news release
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Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. 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 the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.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.The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.
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