High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

January 18, 2012 08:58 ET

High River Gold Announces Preliminary Production Results for 2011

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2012) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announces its preliminary operational results for the year ended December 31, 2011. The numbers stated below are preliminary and subject to final adjustment.

HIGHLIGHTS FOR 2011

  • Total gold production (including silver in gold equivalent) reached 374 Koz (100%). In 2010, total gold production was 330 Koz (100%). 374 Koz of gold (including silver in gold equivalent) have been sold in 2011.
  • The Zun-Holba and Irokinda Gold Mines operated by Buryatzoloto produced 134 Koz (100%). The recovery at Buryatzoloto was 93% in 2011.
  • The Taparko-Bouroum Gold Mine operated by Somita produced 133 Koz (100%). The recovery at Taparko-Bouroum mine was 84% in 2011.
  • Gold production at Berezitovy was 107 Koz (100%). The recovery at Berezitovy was 90% in 2011.
  • The mining license for the Bissa Gold Project was granted and the mine construction commenced.
Buryatzoloto Combined Operational Data
Three months ended Year ended
December 31, 2011 September 30, 2011 December 31, 2010 December 31, 2011 December 31, 2010
Ore mined (Kt) 173 162 162 659 630
Ore processed (Kt) 174 177 174 680 661
Gold grade (g/t) 6.1 6.6 6.9 6.5 6.9
Gold production (Koz) - 100% (1) 36 34 35 134 136
(1) Includes gold from tailings recovery and other sources.
Berezitovy Operational Data
Three months ended Year ended
December 31, 2011 September 30, 2011 December 31, 2010 December 31, 2011 December 31, 2010
Ore mined (Kt) 488 367 439 1,758 1,500
Ore processed (Kt) 334 366 251 1,391 1,050
Gold grade (g/t) 2.7 2.5 2.0 2.6 2.2
Gold production (Koz) - 100% (1) 29 26 16 107 67
(1) Gold production for 2010 represents gold in doré alloy.
Somita Operational Data
Three months ended Year ended
December 31, 2011 September 30, 2011 December 31, 2010 December 31, 2011 December 31, 2010
Ore mined (Kt) 364 416 387 1,457 1,349
Ore processed (Kt) 325 404 362 1,421 1,274
Gold grade (g/t) 3.1 2.9 3.8 3.3 3.5
Gold production (Koz) - 100% (1) 27 34 30 133 128
(1) Gold production for 2010 represents gold in doré alloy.

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.

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