High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

November 22, 2006 13:27 ET

High River Gold Starts Drilling at Bissa

TORONTO, ONTARIO--(CCNMatthews - Nov. 22, 2006) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) is pleased to report that drilling has begun on its Bissa Group Permits in Burkina Faso. High River has budgeted a US $10 million drilling programme (approximately US $2 million per quarter) with the goal of expanding and up-grading the 1.3 million ounce Bissa NI 43-101 resource (662,250 ounces measured and indicated and 679,470 ounces inferred) to at least 2 million ounces. High River plans to spend US $900,000 to the end of 2006 on the following work:



Diamond drilling (DD): 1,200 metres
Reverse Circulation (RC): 3,500 metres
Air Core (AC): 2,000 metres
Rotary Air Blast (RAB): 13,500 metres


Drilling will occur both within the current 1.3 million ounce Bissa resource area, and outside of it on the drill target areas identified by past exploration work (see press release dated September 14, 2006). 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/HRG1.pdf.


Drilling Currently Underway on High Grade Portion of Bissa Resource

Two drill rigs are currently conducting infill drilling and drilling to extend the resource on the high grade portion of the Bissa South Extension, part of the 1.3 million ounce Bissa resource. To view a longitudinal section, please follow this link: http://www.ccnmatthews.com/docs/HRG1a.pdf.

a) Infill drilling on the High Grade Portion of Bissa Resource:

The objective of the infill drilling is to increase drilling density in this area in order to raise the high grade cut-off to a more statistically accurate level, thereby increasing resource ounces. Selected historical assay results from holes in this high grade area, currently cut to 8.5 g/t, are:



59.19 g/t over 9.1 metres
35.19 g/t over 14 metres
39.38 g/t over 10 metres
17.58 g/t over 16 metres
16.86 g/t over 20 metres


A secondary objective is to confirm a newly developed geological model for the structural control of the high grade mineralization in this area.

b) Drilling to extend the High Grade Portion of Bissa Resource:

The objective is to test the down dip and down plunge extension of the high grade portion, which appears to be open at depth. High River is also testing a possible extension of mineralization to the west of the high grade area.

Planned Drilling to end of 2006 on Targets Outside of Bissa Resource Area



Lessa: 5,670 metres of RAB drilling
NW of Bissa SW: 300 metres of AC drilling
Rofo: 500 metres of RC drilling


About Bissa

High River holds exploration licences totalling 11,000 square kilometres, directly and indirectly through its 16% owned strategic partner Goldrush Resources, in Burkina Faso. The Bissa Group Permits comprise approximately 1,000 square kilometres of this total. The Bissa Group Permits are located in Burkina Faso on the northeast edge of the Boromo greenstone belt, part of the prolific Birimian greenstone belts of the West African craton. The Birimian greenstone belts currently host several world-class mines (e.g. Obuasi, Sadiola, Morila, etc.) and mines under construction, including High River's Taparko-Bouroum Mine.

The Bissa Group Permits currently host a resource of 1.3 million ounces. This initial resource was based on drilling carried out over only a six kilometre section (the Bissa Resource Area) of the anomalous 30 kilometre-long Sabce Deformation Corridor.

About High River

High River is currently constructing two open-pit gold mines which are scheduled to commence production in the first half of 2007, the Taparko-Bouroum Project in Burkina Faso and the Berezitovy Project in Russia. Annual gold production from Taparko-Bouroum is planned at 100,000 ounces in year one increasing to over 140,000 ounces in the third year of operation, with annual production from Berezitovy averaging more than 100,000 ounces. Combined with gold production from High River's 85%-owned Russian subsidiary, OJSC Buryatzoloto, High River's attributable annualized gold production rate is expected to exceed 325,000 ounces by mid-2007, establishing the Company as a mid-tier gold producer.

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