High River Gold First Default Status Report
Published : March 28, 2012
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Keywords :   Burkina Faso | Gold | Gold Mines | Market | Russia | Silver |

TORONTO, ONTARIO--(Marketwire - March 28, 2012) - High River Gold Mines Ltd. (News - Market indicators) ("High River" or the "Company") is providing its first Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 1, 2012, High River announced that the Ontario Securities Commission (the "OSC") has noted the Company in default of its continuous disclosure obligations under Ontario securities law due to the Company not having filed National Instrument 43-101 compliant technical reports to support the current mineral reserves and mineral resources at its Zun-Holba and Irokinda mines. A management cease trade order in respect of the Company was issued by the OSC on March 15, 2012.

High River previously disclosed that it anticipated that a new technical report for each of the Zun-Holba and Irokinda mines (the "Technical Reports") would be completed by March 30, 2012 and the Company would file such reports concurrently with its annual filings. However, the preparation of the Technical Reports is taking longer than anticipated and consequently the anticipated filing date of the Technical Reports has been delayed. High River currently anticipates filing the new Technical Reports by April 16, 2012. Other than this delay in the anticipated filing date for the Technical Reports, High River reports that since announcing the original Notice of Default on March 1, 2012, there have not been any material changes to the information contained therein, nor any failure by High River to fulfill its intentions as stated therein, and there are no additional defaults or anticipated defaults subsequent to such announcement. Furthermore, there have been no additional material changes in respect of High River and its affairs that have not been generally disclosed. 

About High River

High River is an unhedged gold company with interests in producing mines, development and advanced exploration projects in Russia and Burkina Faso. Two underground mines, Zun-Holba and Irokinda, are situated in the Lake Baikal region of Russia. Two open pit gold mines, Berezitovy in Russia and Taparko-Bouroum in Burkina Faso, are also in production. Finally, High River has a 90% interest in a development project, the Bissa gold project in Burkina Faso, and a 50% interest in an advanced exploration project with NI 43-101 compliant resource estimates, the Prognoz silver project in Russia.


This release contains forward-looking statements. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes", and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, High River cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause High River's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although High River has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be anticipated, estimated or intended, including those risk factors discussed in the Company's 2010 Annual Information Form. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this release, and High River assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

High River Gold Mines Ltd.
Yury Lopukhin
011 7 495 981 0910 ext. 6821
Data and Statistics for these countries : Burkina Faso | Russia | All
Gold and Silver Prices for these countries : Burkina Faso | Russia | All

High River Gold Mines Ltd.

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High River Gold is a producing gold company based in Canada.

High River Gold produces gold, silver in Burkina Faso and in Russia, develops gold in Burkina Faso, and holds various exploration projects in Burkina Faso.

Its main assets in production are BURYATZOLOTO (ZUN-HOLMA), BEREZITOVY, SOMITA and IROKINDA in Russia and TAPARKO in Burkina Faso, its main asset in development is BOUROUM in Burkina Faso and its main exploration properties are NOVOPHIRSOVSKOYE and PROGNOZ in Russia and BISSA GOLD in Burkina Faso.

High River Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.2 billions as of today (US$ 1.1 billions, € 882.8 millions).

Its stock quote reached its highest recent level on March 07, 2008 at CA$ 3.50, and its lowest recent point on November 14, 2008 at CA$ 0.04.

High River Gold has 840 219 000 shares outstanding.

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Annual reports of High River Gold Mines Ltd.
2007 Annual Report
2006 Annual Report
2005 Annual Report
Financings of High River Gold Mines Ltd.
12/2/2009Closing of Private Placement
6/19/2009Announces Closing of Private Placement and Update on TSX Del...
Nominations of High River Gold Mines Ltd.
1/24/2013Announces Change to the Board of Directors
5/15/2012Announces Appointment of Chief Executive Officer and Chief F...
3/5/2012Announces Resignation of Chief Executive Officer
10/29/2010Announces Appointment of Chief Executive Officer
12/10/2009Appointment to the Board of Directors and the Audit Committe
10/21/2009 Appointment of Chief Executive Officer
9/30/2009Announces Appointment of New Board Member
Financials of High River Gold Mines Ltd.
8/14/2012Financial Results for the Second Quarter Ended June 30, 2012
5/16/2012Financial Results for the First Quarter Ended March 31, 2012
2/24/2012Announces Release of Nord Gold Financial Statements
8/15/2011Reports Second Quarter 2011 Results
11/15/2010Reports Third Quarter 2010 Results
8/13/2010Reports Second Quarter 2010 Results
5/13/2010Reports First Quarter 2010 Results
8/15/2009Reports Second Quarter 2009 Results
12/18/2008Reports Third Quarter 2008 Results
Project news of High River Gold Mines Ltd.
1/22/2013Announces Production Results for Q4 2012
10/11/2012Announces Production Results for Q3 2012
7/18/2012Announces Production Results for Q2 2012
4/24/2012Announces Production Results for Q1 2012
1/18/2012Announces Preliminary Production Results for 2011
7/4/2011(Bissa Gold)Announces the Granting of Mining License for Bissa Gold Proj...
2/18/2011(Prognoz)Provides an Update on the Bankruptcy Procedures of Prognoz S...
1/31/2011(Berezitovy)Reports Updated Resource and Reserve Statements
1/31/2011(Taparko)Reports Updated Resource and Reserve Statements
1/31/2011(Bouroum)Reports Updated Resource and Reserve Statements
1/31/2011(Bissa Gold)Reports Updated Resource and Reserve Statements
1/28/2011(Taparko)Announces Release of Royal Gold Security
9/11/2010(Bissa Gold)Reports Feasibility Study Results for the Bissa Gold Project
9/11/2009(Irokinda)Reports Two Accidental Deaths at Irokinda Mine
6/22/2009(Bissa Gold)Reports Updated NI 43-101Compliant Resource Estimate for Bis...
12/4/2008(Prognoz)Advises That Closing of Prognoz Acquisition Not Extended and...
11/10/2008(Taparko)Re-Starts Mill at Taparko-Bouroum and Provides Update on Str...
9/30/2008(Prognoz)Advises That Closing of Prognoz Acquisition Transaction Has ...
3/31/2008(Taparko)2008 Technical report
7/11/2007Discovers New High Grade Gold Zone at Simkar
5/1/2007Announces New Acquisition in Southeastern Peru, Vetaspata --...
3/28/2007High Grade Gold intersected at Quintana Gold Mine, Colombia ...
Corporate news of High River Gold Mines Ltd.
3/13/2013Nord Gold N=2EV=2E and High River Gold Min
12/21/2012Nord Gold N=2EV=2E and High River Gold Mines Ltd=2E Announce...
12/11/2012Acknowledges Expiry of Offer by Nord Gold
11/28/2012Acknowledges Extension of Offer by Nord Gold; Board Confirms...
10/31/2012Mails Directors' Circular; Board Recommends Shareholders Acc...
10/22/2012Acknowledges Bid by Nordgold; Advises Shareholders to Wait f...
9/27/2012Announces Updated Reserve and Resource Estimate and Files Te...
7/31/2012Provides Update on Nord Gold Offer
7/20/2012Announces Amended and Restated AIF and Amended Technical Rep...
7/18/2012Responds to Nord Gold Press Release and Establishes Special ...
6/8/2012(Berezitovy)Files Technical Reports for Berezitovy and Burkina Faso Prop...
5/24/2012Announces Date of Annual General Meeting
4/24/2012(Berezitovy)Announces Updated Reserve and Resource Estimates for Berezit...
4/13/2012Second Default Status Report
3/31/2012Reports 2011 Results
3/28/2012First Default Status Report
3/1/2012Announces Default Pursuant to National Policy 12-203
2/24/2012(Prognoz)Provides an Update on the Bankruptcy Procedures of Prognoz S...
12/29/2011(Berezitovy)Announces Amended Q2 2011MD&A and Berezitovy Technical Repor...
9/2/2011(Prognoz)Provides an Update on the Bankruptcy Procedures of Prognoz S...
6/7/2011Reaches Settlement With Senet CC
1/24/2011Shareholders Approve Continuing to Yukon
12/21/2010Announces Resignation of Chief Financial Officer and Change ...
11/15/2010Announces Intention to Continue to Yukon
10/4/2010Announces Resignation of Chief Executive Officer
6/8/2010Announces the Beginning of the Bankruptcy Procedures of Prog...
5/28/2010Announces Change to the Board of Directors and Inclusion in ...
4/20/2010Reports 2009 Results
4/14/2010First Default Status Report
4/1/2010Late Filing of Annual Filings and Provides Operational and F...
12/1/2009Clearance of PIF in Connection With CDN$57 Million Financi
11/3/2009Announces Change of Auditor
10/27/2009Announces Proposed $57 Million Financing
10/8/2009Change to the Board of Directors
9/23/2009 Change to the Board of Directors
9/21/2009 Resignation of Chief Executive Officer
9/15/2009Announces New Investor Relations Contact
9/1/2009Announces Resignation of VP Exploration
7/23/2009New Chief Financial Officer
7/16/2009Provides Q2/2009 Update on Operations and Financial Status
6/26/2009Mailing of Offer
6/17/2009Enters Into Support Agreement With Severstal
6/9/2009Provides Update on Improved Severstal Offer and Announces Pr...
5/22/2009Provides Update on Strategic Alternatives
5/19/2009Provides Update on Operations and Financial Status
3/6/2009Provides Update on Operations
2/2/2009Provides Update on Operations
1/2/2009Provides Update on Operations, Financial Status, and Personn...
12/14/2008Second Default Status Report
12/1/2008First Default Status Report
11/19/2008Announces Late Filing of Interim Financial Statements
9/22/2008Comments on Share Price Decline
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