Bullion River Gold Corp.
OTC Bulletin Board : BLRVE

Bullion River Gold Corp.

December 03, 2007 09:00 ET

Bullion River Gold Corp. Reports Third Quarter, Nine Month Results for Fiscal 2007 and Announces Conference Call for Investors

Revenue for the quarter was $ 1,231,358, up 34% from the previous quarter

RENO, NEVADA--(Marketwire - Dec. 3, 2007) -

Bullion River Gold Corp. (OTCBB:BLRVE) today announced its financial results for the third quarter of the 2007 fiscal year ending September 30, 2007. The company's financial statements conform to accounting principles generally accepted in the United States (US GAAP). Currency amounts are expressed in US Dollars unless otherwise noted.

The company also announces that senior executives will discuss results from the third quarter during a telephone conference call. Details of the conference call will be supplied in a later press release.

Bullion River reported revenue of $1,231,358 for the third quarter of 2007, up 34% from the second quarter revenue of $922,533. All revenue from the third quarter was produced at the French Gulch Mine. For comparison purposes, net revenues for the company in the third quarter of 2006 were $0 as the company began the transition from exploration to production. For the third quarter of 2007, the company reported a comprehensive loss of $4.6 million or $0.07 per basic and diluted share, compared to a net comprehensive loss of $4.1 million or $0.07 per basic and diluted share for the third quarter of 2006.

For the nine month period, the company reported revenue of $2,506,501 million compared with $0 for the same period in 2006, and a net comprehensive loss of $15.7 million or $0.25 per share, compared to a comprehensive loss of $10.1 million or $0.20 per share for the corresponding period in 2006.

The company's losses in the third quarter and for the nine month period increased year over year due to the transition from exploration to production mining. Cost reduction measures were instituted midway through the third quarter to bring costs in line with revenues at the mine.

Commenting on the results, Peter M. Kuhn, president and CEO of Bullion River Gold Corp., said:

"Our measures to reduce costs and improve efficiency are clearly demonstrated in the significantly reduced losses when comparing the 3rd Quarter of 2007 with the 2nd Quarter. Furthermore, the increase in revenues is substantial and demonstrates the efficiency of the mine personnel. As previously announced, this culminates in the expected first profitable month in October 2007.

With regard to accounting, the company has taken a very conservative approach in recognizing costs as current expenses rather than capitalizing these costs, which we might reconsider in due course."

Other key accomplishments during the Third Quarter include:

- Improved grade control and ongoing detailed geologic mapping of underground structure.

- Rationalization of manpower to better reflect production limitations.

- Location of additional veins which were not previously known above the I level elevation.

- Connection of the Main Decline to I level which improves safety and ventilation.

Outlook through Remainder of 2007

- Begin work on infrastructure improvements to prepare for increased production in 2008 and beyond.

- Continue to work under rigorous cost controls to maximize metal production under current production constraints. Results for the month of October signified the first calendar month where revenues generated by the mining operation were greater than operating costs.

Details regarding the conference call will be posted on the Bullion River Gold Corp. website on Wednesday Dec. 5, 2007.

About Bullion River Gold Corp.

Bullion River Gold Corp. is an American-based mineral exploration company focusing on regions containing gold / silver deposits predominately located in the Western United States. The company has six properties, equally divided between California and Nevada. Of the Nevada properties, two are considered advanced projects and the third is considered grassroots. The three California properties are all past producers.

For more information, contact Glenn Blachford, Investor Relations at Bullion River Gold Corp. at (800) 540-BLRV (2578) or at glenn@bullionriver.com, the Company's website at www.bullionriver.com or the U.S. Securities and Exchange Commission's website at www.sec.gov/ to review Bullion River's latest filings.

This release contains certain statements that are "forward looking" statements (as the term is defined in the Private Securities Litigation Reform Act of 1995) including statements regarding SEC approval and the sufficiency of the funds raised. Any such forward-looking statements are inherently speculative and are based on currently available information, operating plans and projections about future expectations and trends. As such, they are subject to numerous risks and uncertainties, such as general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and other factors over which Bullion River Gold Corp. may have little or no control. Actual results and performance may be significantly different from expectations or trends expressed or implied by such forward-looking statements. Bullion River Gold Corp. expressly disclaims any obligation to update the statements contained in this release.

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