Bullion River Gold Corp.

Bullion River Gold Corp.

March 03, 2005 09:00 ET

High-Grade Gold Intersections Bring Production Closer at Bullion River Gold Corp.'s French Gulch Mine in California


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BULLION RIVER GOLD CORP.

OTC Bulletin Board SYMBOL: BLRV
FRANKFURT SYMBOL: BVM

MARCH 3, 2005 - 09:00 ET

High-Grade Gold Intersections Bring Production Closer
at Bullion River Gold Corp.'s French Gulch Mine in
California

RENO, NEVADA--(CCNMatthews - March 3, 2005) - Bullion River Gold Corp.
(OTCBB:BLRV)(FWB:BVM) is pleased to announce very encouraging results
from initial phases of its underground reserve-delineation drilling
program at its French Gulch mine near Redding, California. Results from
the first five holes on the Lucky-7 vein structure confirm the down-dip
continuity of the high-grade vein zone mined at higher levels. Four of
the first 5 holes returned assays grading above 1 opt (ounces per ton)
Au (Table 1). Results include: 0.335 opt Au over 40.5 feet in hole RBU-4
containing 7.7 feet grading 1.184 opt Au and 2.5 feet grading 0.984 opt
Au; and 1.347 opt Au over 10 feet in hole RBU-1 containing 6.05 opt Au
over 2.2 feet.

"We are thrilled with the first drill results," states Peter M. Kuhn,
President of Bullion River Gold Corp. Mr. Kuhn went on to say, "The
results confirm the very high grade nature, and therefore the high
profit potential of the fully permitted French Gulch mine. This keeps us
on target to start production at French Gulch in 2005, and towards
making Bullion River the next American gold producer."

Approximately 7,900 feet of core drilling in 14 holes have been
completed in this 58-hole phase-1 program. The program is designed to
delineate a mineable reserve by drilling a closely-spaced grid on
50-foot centers on the Lucky-7 vein and 75-foot centers on the
Washington vein. Assuming the continuity demonstrated in earlier mining,
the program has the potential to delineate at least 125,000 ounces of
gold at grades of approximately 1 opt. By early March, drilling will
begin across the Washington vein, which was historically the largest
producer in the area (approximately 100,000 ounces). The Washington is
expected to yield greater tonnages than the Lucky-7. Both vein zones
contain gently-raking ore shoots which were partially defined by
previous mining but which remain open at depth and along strike.

Bullion River's Vice President of Exploration, Dr. Jacob Margolis
states: "Our preliminary results are exciting. We have confirmed the
presence of dike-hosted vein stockwork on the Lucky-7 vein carrying
grades sufficient to support underground mining. The fact that we are
seeing low-grade gold around the highest-grade veins should limit severe
mining dilution. The relationship between the dikes and veins is
important and should help in future exploration. We are in the early
reserve-delineation stages, but already seeing down-dip continuity on
the Lucky-7 vein, and we haven't even begun to test the Washington vein,
which has much wider ore-shoot geometry and yielded a greater historic
production."

The drilling results indicate that gold mineralization in the Lucky-7
structure occurs across a wide dike-hosted quartz-stockwork zone and is
not simply confined to one narrow vein. Based on the drilling and
exposures of the mined portions of the vein, high grades occur across
widths of at least 5 feet, with most holes containing multiple
high-grade veins surrounded by quartz stockwork. Channel samples
collected during small-scale mining in the 1990's averaged 2.79 opt Au
across 4.6 feet. Although final calculations of true widths in the
drilling are pending further 3-dimensional analysis, initial
calculations indicate that true widths for the area of the first 5 holes
are approximately 40% of drilled length. Significant gold mineralization
has been intersected to depths of 200 feet below previously-mined
levels, confirming down-dip continuity. Visible gold is common in veins
and occurs with galena, sphalerite, pyrite and arsenopyrite.

Bullion River Gold Corp.'s drilling, sampling and assaying practices are
being actively audited by SRK Consulting, who is satisfied with
procedures in place. Core samples are being assayed at BSi Inspectorate,
Reno, Nevada. Bullion River Gold conducts a rigorous quality control
program. Metallic screen assays are pending on the first five holes
reported here and will be obtained on future drill holes. SRK Consulting
will also be heading resource calculations once sufficient drilling has
been completed.

In other work at French Gulch, metallurgical studies are underway on
bulk samples collected from underground exposures on the Lucky-7 and
Washington veins. The four bulk samples assayed 1.84, 2.40, 2.36, and
greater than 29 opt Au (Table 2). The metallurgical program is being
coordinated by SRK Consulting, with analytical work by McClelland
Laboratories of Reno, Nevada. Results on gravity and flotation
recoveries are pending.

This release contains certain statements that are "forward-looking"
statements (as the term is defined in the Private Securities Litigation
Reform Act of 1995). 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. has 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.

Table 1

Assay Summary

Holes RBU1-5

To view Table 1 please click on the following link:
http://www2.ccnmatthews.com/database/fax/2000/blrv303a.pdf

Table 2

Assays on Bulk Metallurgical Samples

To view Table 2 please click on the following link:
http://www2.ccnmatthews.com/database/fax/2000/blrv303b.pdf


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