Fire River Gold Corp.

Fire River Gold Corp.

April 26, 2010 09:00 ET

Fire River Gold Announces 2.28 opt (78.03 g/t) Gold Over 15.8 ft (4.8 m), Nixon Fork Gold Mine, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2010) -

  • 2.28 opt (78.03 g/t) Gold over 15.8 ft (4.8 m) in hole N07U050
    • including 4.66 opt (159.71 g/t) over 5.9 ft (1.8 m)
  • 1.47 opt (50.28 g/t) Gold over 16.5 ft (4.0 m) in hole N07U052
  • Results pending for 80 additional underground holes
  • Results pending for 7 additional surface holes
  • Geological re-assessment work 55% complete; resource update Fall 2010

Fire River Gold Corp. (TSX VENTURE:FAU)(OTCQX:FVGCF)(FRANKFURT:FWR) ("FAU" or the "Company") is pleased to announce additional high grade results 2.28 opt (78.03 g/t) gold over 15.8 ft (4.8 m) 4.66 opt including (159.71 g/t) over 5.9 ft (1.8 m) from the ongoing re-evaluation program on its 100% owned Nixon Fork Gold Mine Project in Alaska. In the years 2007 to 2008, the former operator drilled 9400 metres in 110 holes, the results of which have never been previously disclosed to the public. This release is the second reporting of relogging and sampling of drill holes completed in 2007. Eighty (80) additional drillholes completed underground from 2007 have assays pending or are pending QAQC evaluation and will be the subject of future releases. In addition, seven (7) surface holes are in the process of relogging and sampling.

Because the 2007 and 2008 results were not formerly reported, a careful review was initiated by Fire River of all quality control and quality assurance procedures used by the former operator. Although original check assays from the 2007 drill program were not documented, it is clear, however, that certified standards were used. The re-sampling program of the 2007 drill core is essentially a modified field duplicate exercise of the original assay results.

The re-sampling of the remaining half‐cores, were fully analyzed except in rare cases where quarter‐cores were used. Sampling of core‐duplicates as compared to FAU's pulp‐duplicates can produce a high degree of variability in the results due to the "nugget effect" of gold mineralization that occurs at Nixon Fork. This nugget effect was clearly evident in the bonanza grades reported for the 2008 drilling.

Every effort has been made to replicate the previous sample intervals except when a previous sample crossed a lithological or mineralized boundary. In these cases the new 2010 samples were terminated at such boundaries.

The differences in lengths of the intervals may account for some of the variability in gold grades. In general, the assays are in conformity, especially for a comparison of field duplicate samples in a high‐grade, coarse gold system.

Table 1 illustrates the most recent significant intercepts for drill holes relogged and sampled during this program. These drill holes were completed in the Crystal decline around the 3300 zone near the 220 ft level.

Table 2 illustrates a comparison of the 2010 reassay field duplicate samples. In general, the results match up very well.

Table 1: List of 3 Drillholes Completed in 2007

Hole From To Length Length Au Au Location
Number (metres) (metres) (feet) (metres) (opt) (gpt)  
N07U050 4.00 8.80 15.75 4.80 2.28 78.03 3300 zone
including 7.00 8.80 5.91 1.80 4.66 159.71  
N07U051 4.50 5.50 3.28 1.00 0.35 11.98 3300 zone
N07U052 3.50 6.50 9.84 3.00 0.29 10.06 3300 zone
N07U052 12.50 16.50 13.12 4.00 1.47 50.28 3300 zone
including 13.80 14.80 3.28 1.00 2.21 75.88  
including 14.80 16.00 3.94 1.20 2.13 73.00  
including 16.00 16.50 1.64 0.50 1.74 59.63  

Table 2: A Comparison of the Original to Check Assays for the 2007 Drilling

  Field Duplicates
Hole From To Length Au   From To Length Au
Number (metres) (metres) (metres) (gpt)   (metres) (metres) (metres) (gpt)
N07U050 4.00 8.80 4.80 78.03   4.30 8.80 4.50 82.30
including 7.00 8.80 1.80 159.71   6.40 8.80 2.40 144.54
N07U051 4.50 5.50 1.00 11.98   5.80 7.20 1.40 7.52
N07U052 12.50 16.50 4.00 50.28   12.50 16.50 4.00 57.65
including 13.80 14.80 1.00 75.88   13.80 14.80 1.00 127.00
including 14.80 16.00 1.20 73.00          
including 16.00 16.50 0.50 59.63          

Relogging and sampling of the historic core is of critical importance to understanding the controls of gold mineralization as well as gaining confidence in the high grades. The differences in grades shown are typical of high grade, gold deposits with a significant nugget distribution.

For additional details, please refer to FAU's April 20th March 23rd and March 31st press releases, which includes the results from the first 33 holes, the geological re-assessment program, historic site production, a description of the deposits, additional information on the QA/QC measures and a description of our planned 2010 exploration drilling program.

The Nixon Fork project produced significant bi-product copper and silver. Until the closure of the mine in 2007, reported copper production was 1,273,066 lbs and silver production was 19,566 ounces from 106,137 tonnes mined. Historic recovered grades are about 0.6% for copper and 0.18 opt for silver.

The project is being managed by Richard Goodwin, P.Eng, VP Mining for Fire River Gold and is the Qualified Person for this news release.

About Fire River Gold Corp.

Fire River Gold Corp. is a junior exploration/development company focused on advanced stage gold projects in North America. The Company's team of professionals includes dedicated senior management, geologists, engineers, corporate finance, investor relations experts, corporate management, public company administrators and regulatory and government affairs specialists. Fire River's flagship property is the Nixon Fork Gold Mine, located within Alaska's Tintina Gold Belt, host to numerous world class deposits. Fire River Gold is a member of the International Metals Group (

On behalf of the Board of Directors

Harry Barr, President & C.E.O.

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.

We seek safe harbour.

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.

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