High River Gold Mines Ltd.

High River Gold Mines Ltd.

April 02, 2012 17:32 ET

High River Gold Corrects Selected Financial Results in March 30th Press Release

TORONTO, ONTARIO--(Marketwire - April 2, 2012) - High River Gold Mines Ltd. (TSX:HRG) ("High River") wishes to clarify and correct the figures reported in the Selected Financial Results in the press release issued on March 30, 2012. Although the figures in the Consolidated Financial Statements and related Notes and related Management's Discussion and Analysis for the year ended December 31, 2011 were correct, there were differences in the figures reported in the press release announcing such results on March 30, 2012. Therefore, the table below should replace the table in the press release issued on March 30, 2012.

Selected Financial Results
(in thousands of Canadian dollars except per share amounts)
2011 2010 2009
Gold revenue 563,789 435,615 363,259
Net income (loss) 170,364 114,852 (9,764 )
Net income (loss) per share (basic) 0.20 0.14 (0.02 )
Cash provided by (used in) operating activities 189,867 154,344 125,496
Total Assets 1,007,827 812,332 706,962
Loans and interest payable 27,848 25,025 84,031
Weighted average number of shares outstanding (basic) 840,218,962 816,437,980 634,009,385

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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