High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

July 12, 2007 08:00 ET

High River Gold Reports Positive Drill Results at Bissa in Burkina Faso

TORONTO, ONTARIO--(Marketwire - July 12, 2007) - High River Gold Mines Ltd. ("High River" or "the Company") (TSX:HRG) is pleased to report positive drill results from the ongoing exploration programme on its Bissa Group Permits in Burkina Faso. Initial reconnaissance drilling along the Sabce Deformation Corridor, beyond the 6 kilometre section which hosts the existing National Instrument 43-101 resource, has identified potential new gold zones in the Gonglou Area (1-3 kilometres to the southwest) and the Wemstenga Area (approximately 15 kilometres to the southwest).

Drilling within the 6 kilometre section also continues to expand the gold resource, as drilling and trenching in a previously inaccessible part of the Bissa SW Zone produced excellent results.

These results, combined with the recently announced new discovery at Gougre (see press releases dated April 17, 2007 and July 3, 2007), provide further support to the Company's belief that it can achieve its target to expand the gold resources at Bissa by 50% to over 2 million ounces by the end of 2007.



Highlights include the following assay results:

Gonglou
-------

RAB Hole: ZKBB07-939 2.10 g/t over 22 metres
RAB Hole: ZKBB07-956A 2.97 g/t over 12 metres
RAB Hole: ZKBB07-1103 2.02 g/t over 18 metres

Wemstenga
---------

RC Hole: ZKWR07-264 10.28 g/t over 10 metres

Bissa SW
--------

RC Hole: ZKBR07-272 3.90 g/t over 15 metres
DD Hole: ZKBC07-090 2.69 g/t over 11 metres
Trench: ZKBT07-9097E 7.11 g/t over 12 metres
Trench: ZKBT07-9137E 6.29 g/t over 12 metres
Trench: ZKBT07-9177E 4.62 g/t over 14 metres


Background on Bissa

A 31,500 metre drill programme by High River at Bissa in late 2005 and early 2006 established a National Instrument 43-101 compliant resource of:



--------------------------------------
Tonnes Grade Ounces
(g/t)
------------------------------------------------
Measured 753,000 3.39 81,980
------------------------------------------------
Indicated 11,253,000 1.60 580,270
------------------------------------------------
Inferred 16,394,000 1.29 679,470
------------------------------------------------


This resource was based on drilling carried out over only a six kilometre section of the anomalous 35 kilometre strike length of the Sabce Deformation Corridor. During 2006, High River completed a comprehensive surface exploration programme, which included soil sampling on 100 metre centres over the entire length of the Sabce Deformation Corridor and adjacent structures. Based on this work, 12 target areas were identified for drilling. In November 2006, a US $10 million exploration programme began to test the 12 drill target areas (see press releases dated September 14, 2006 and March 26, 2007). The objective of this programme is to expand the National Instrument 43-101 resource on the Bissa Group Permits to over 2 million ounces of gold. To view a map of the Bissa Group Permits, including the Bissa Resource Area and Target Areas, please follow this link: http://www.ccnmatthews.com/docs/bissa%20link4.pdf.

Highlights and Interpretation of Drill Assays Received

To view a surface plan showing the drill hole locations and orientation please follow this link: http://www.ccnmatthews.com/docs/hrg0711.jpg. Note that insufficient information is available to determine true width of drill intercepts.



Gonglou (Bissa group)

---------------------------------------------------------------------------
Sampling Interval (m) Sample Average Gold Grade
Drill --------------------- Length (g/t)
Hole No. Method From To (m)
---------------------------------------------------------------------------
ZKBB07-939 RAB 0 14 14 0.54
---------------------------------------------------------------------------
18 40 22 2.10
---------------------------------------------------------------------------
ZKBB07-956A RAB 0 2 2 1.12
---------------------------------------------------------------------------
12 24 12 2.97
---------------------------------------------------------------------------
34 40 6 1.05
---------------------------------------------------------------------------
ZKBB07-1103 RAB 2 4 2 0.59
---------------------------------------------------------------------------
10 12 2 0.59
---------------------------------------------------------------------------
30 48 18 2.02
---------------------------------------------------------------------------
ZKBB07-1109A RAB 8 32 24 1.32
---------------------------------------------------------------------------
ZKBB07-1109B RAB 14 52 38 1.34
---------------------------------------------------------------------------
ZKBB07-1110A RAB 16 37 21 1.63
---------------------------------------------------------------------------
ZKBB07-1110B RAB 14 38 24 1.38
---------------------------------------------------------------------------
ZKBB07-1110C RAB 16 46 30 1.54
---------------------------------------------------------------------------
ZKBB07-1111A RAB 18 39 21 1.82
---------------------------------------------------------------------------


Hole 939 represents a new discovery across strike and northwest of Zone 51 of the Bissa Resource Area, over an outcrop of mafic schist that gave rock sampling results up to 2.18 g/t.

Hole 956A represents a possible western extension of Zone 51 of the Bissa Resource Area.

Holes 1103 to 1111A indicate a significant 200 metre wide mineralized area (located 2 kilometres southwest of the existing resources at Zone 52 of the Bissa Resource Area) with numerous significant drill intersections, many of which overlap from hole to hole.

All of the above drill holes were drilled with an azimuth of N141.5 degrees, and a dip of -45 degrees. Follow-up work planned includes drilling to extend the new discovery of hole 939, to test the possible western extension to Zone 51 suggested by hole 956A, and to further test the new zone indicated by holes 1103 to 1111A.



Wemstenga (Bissa group)

---------------------------------------------------------------------------
Sampling Interval (m) Sample Average Gold Grade
Drill --------------------- Length (g/t)
Hole No. Method From To (m)
---------------------------------------------------------------------------
ZKWR07-264 RC 38 48 10 10.28
---------------------------------------------------------------------------
52 54 2 7.13
---------------------------------------------------------------------------
91 94 3 2.78
---------------------------------------------------------------------------
102 103 1 2.17
---------------------------------------------------------------------------


The above highlighted drill hole is part of an 8 hole RC and 157 hole RAB drill programme which, together with ground geophysics, suggests a potential mineralized envelope of at least 2.4 kilometres in strike length. Follow up drilling is planned to better define the higher grade intercepts within the mineralized envelope, and to extend the envelope southwest and northeast. The above drill hole was drilled with an azimuth of N330.5 degrees and a dip of -45 degrees.



Bissa SW (Bissa group, Bissa Resource Area)

---------------------------------------------------------------------------
Sampling Interval (m) Sample Average Gold Grade
Drill --------------------- Length (g/t)
Hole No. Method From To (m)
---------------------------------------------------------------------------
ZKBR07-272 RC 1 6 5 4.96
---------------------------------------------------------------------------
19 34 15 3.90
---------------------------------------------------------------------------
38 39 1 1.83
---------------------------------------------------------------------------
42 46 4 1.70
---------------------------------------------------------------------------
51 61 10 1.02
---------------------------------------------------------------------------
ZKBR07-273 RC 0 6 6 1.99
---------------------------------------------------------------------------
10 17 7 1.52
---------------------------------------------------------------------------
23 35 12 1.06
---------------------------------------------------------------------------
ZKBR07-275 RC 19 28 9 2.18
---------------------------------------------------------------------------
37 50 13 1.15
---------------------------------------------------------------------------
59 65 6 1.40
---------------------------------------------------------------------------
74 76 2 3.97
---------------------------------------------------------------------------
81 97 16 1.18
---------------------------------------------------------------------------
ZKB C07-090 DD 40.1 41.3 1.2 4.46
---------------------------------------------------------------------------
124.5 135.1 10.6 2.69
---------------------------------------------------------------------------
160.8 177.0 16.2 1.03
---------------------------------------------------------------------------
196.0 207.0 11.0 1.40
---------------------------------------------------------------------------


---------------------------------------------------------------------------
Sampling Interval (m) Sample Length Average Gold Grade
--------------------- (m) (g/t)
Trench No. From To
---------------------------------------------------------------------------
ZKBT07-9097E 135.1 147.2 12.1 7.11
---------------------------------------------------------------------------
156.0 158.0 2.0 2.76
---------------------------------------------------------------------------
183.0 217.0 34.0 1.74
---------------------------------------------------------------------------
220.4 229.2 8.8 1.36
---------------------------------------------------------------------------
ZKBT07-9137E 87.9 100.2 12.3 6.29
---------------------------------------------------------------------------
124.5 125.6 1.1 4.60
---------------------------------------------------------------------------
130.8 133.7 2.9 3.49
---------------------------------------------------------------------------
168.0 170.0 2.0 4.43
---------------------------------------------------------------------------
173.0 180.0 7.0 3.10
---------------------------------------------------------------------------
ZKBT07-9177E 74.0 79.3 5.3 1.33
---------------------------------------------------------------------------
99.3 118.3 19.0 1.97
---------------------------------------------------------------------------
126.0 142.6 16.6 2.32
---------------------------------------------------------------------------
155.9 163.1 7.2 2.03
---------------------------------------------------------------------------
166.6 181.4 14.8 4.62
---------------------------------------------------------------------------
189.0 207.3 18.3 2.55
---------------------------------------------------------------------------
210.3 215.0 4.7 1.28
---------------------------------------------------------------------------


Four RC holes were drilled, and 3 trenches dug in an area previously inaccessible to shallow drilling within existing resources at the Bissa SW deposit in the Bissa Resource Area. One diamond drill hole was drilled to extend the Bissa SW deposit an additional 40 metres to the northwest following the down-plunge trend to about -120 metre depth. All RC holes, and the DD hole, were drilled with an azimuth of N141.5 degrees and a dip of -45 degrees.

Quality Assurance and Quality Control

The HQ drill core is logged, photographed, and then halved using a diamond saw. Reverse circulation drilling assay samples are collected every metre directly from the cyclone. Each sample is weighed at the site and successively split using a mechanical riffle splitter until sample size is reduced to two (2) kilograms (150 grams). Successive splits are always collected from the same side of the splitter. Sample rejects are replaced in the sample bag, labelled and stored at a guarded sample warehouse. All samples are collected by High River personnel. Samples are taken from the field to a guarded camp where they are temporarily placed in sealed bags and stored in a guarded storage facility until they are transferred to analytical laboratory staff for final delivery to the laboratory facilities. Sample bags remain closed until final delivery to the laboratory.

All assays for gold from core samples collected by High River were conducted at the Abilab Afrique de l'Ouest SARL ("Abilab") laboratory located in Ouagadougou, Burkina Faso. Check assaying on a selected suite of samples is planned to be performed at the ALS-Chemex Laboratory in Vancouver, British Columbia. Upon receipt by Abilab, samples are organized in numerical order and subdivided in batches of 50 samples. Four internal quality control samples are inserted by High River: a blank, two duplicates and one standard reference material ("SRM"). Rock samples are crushed (-10 mesh) with a jaw crusher. A 250 to 300-gram subsample is collected and pulverized (90% passing -150 mesh). Rock samples are assayed for gold by fire assay with an atomic absorption finish on a 50 gram subsample. Samples assaying greater or equal to 5 g/t gold were systematically re-assayed (from the same pulp) with a gravimetric finish. Assay results are submitted by Abilab digitally, inspected by a database manager and conditioned for proper entry into the assay database. All assays for gold from RC and RAB samples collected by High River were conducted at the SGS laboratory located in Ouagadougou, Burkina Faso. SGS procedures are similar to Abilab with the exception of the subdivision into batches of 20 samples, and no gravimetric checks for samples assaying 5 g/t gold or greater.

Qualified Person

Mr. Driffield Cameron, P.Geo., Vice President, Exploration of High River is the designated Qualified Person for the Bissa project and has reviewed this press release.

About High River

High River is currently constructing two open-pit gold mines which are scheduled to commence production this year, the Taparko-Bouroum Project in Burkina Faso (July) and the Berezitovy Project in Russia (August). Annual gold production from Taparko-Bouroum is planned at 100,000 ounces for the first 12 months increasing to over 140,000 ounces in the third year of operation, and annual production from Berezitovy is expected to exceed 100,000 ounces. Combined with gold production from High River's 85%-owned Russian subsidiary, OJSC Buryatzoloto, High River's attributable gold production is expected to exceed 200,000 ounces in 2007, and 300,000 ounces in 2008. In addition, the Company has two advanced exploration projects, the Bissa Gold Project in Burkina Faso and the world-class Prognoz Silver Project in Russia. These projects are expected to significantly add to the Company's production profile in the future.

Forward Looking Statements - This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected. Risk and uncertainties about the Company's business are more fully discussed in the Management's Discussion and Analysis published in the Company's Annual Report and in the Annual Information Form.

Contact Information

  • High River Gold Mines Ltd.
    Dan Hrushewsky
    Vice President Investor Relations
    (416) 947 1440
    (416) 360 0010 (FAX)
    Email: info@hrg.ca
    Website: www.hrg.ca