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Fire River Gold Corp
Symbol C : FAU
Shares Issued 316,157,031
Close 2012-12-07 C$ 0.06
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Fire River drills 7.6 m of 50.26 g/t Au at Nixon Fork

2012-12-10 09:12 ET - News Release

Mr. Blane Wilson reports

FIRE RIVER DRILLS 7.6 METRES GRADING 50.26 G/T GOLD AT NIXON FORK

Fire River Gold Corp. has released results from its 2012 surface diamond drilling program at its wholly owned Nixon Fork gold project in Alaska. Fire River completed 38 surface diamond drill holes totalling 2,976 metres targeting resource expansion at the Mystery mine. Twenty of 38 drill holes intercepted significant gold, silver and copper mineralization, a very high success ratio. All summer 2012 surface drilling was from the Mystery vent raise/boiler area pad, above the Mystery portal.

Drilling highlights include:

  • 7.6 metres grading 50.26 grams per tonne gold in drill hole N12-014;
  • 8.3 metres grading 36.75 g/t gold in drill hole N12-001;
  • 6.1 metres grading 31.83 g/t gold in drill hole N12-012.

Blane Wilson, president and chief executive officer of Fire River, commented: "We are extremely pleased with these high-grade gold and silver drill hole intercepts at the Mystery mine. The drilling was designed to define and expand the known resources at the mine and to better understand the geologic controls of higher-grade gold and silver mineralization. It is important to note the very high grades associated with some of the intercepts, such as 3.7 metres grading 96.6 g/t gold, 84 g/t silver and 6.7 per cent copper in drill hole N12-014. These higher-grade zones will contribute to an optimized mine plan for the Mystery mine and potentially provide a more consistent high-grade feed for the mill."

                                NIXON FORK DRILL RESULTS

Drill hole            From           To        Width         Gold      Silver      Copper
                        (m)          (m)          (m)        (g/t)       (g/t)         (%)

N12-001              27.84        36.15         8.31        36.75       22.55         1.6
including            27.84        31.70         3.86        67.38        39.3        2.67
N12-003              15.85        17.37         1.52         6.66           4        0.27
N12-005              12.34        13.11         0.77        12.65           7        0.33
including            11.28        13.11         1.83        12.65           7        0.33
N12-006              28.35        32.92         4.57         5.55        12.3        0.66
including            29.87        31.39         1.52         9.75           9        0.38
N12-008              19.20        21.59         2.39         3.79         5.6        0.43
N12-009              19.20        20.73         1.53         3.35           1        0.04
N12-011              13.11        14.63         1.52         2.36           3        0.19
N12-012              28.35        34.44         6.09        31.83          37        2.28
including            29.87        32.92         3.05        49.31          62        3.75
N12-013               2.13         3.96         1.83         6.14          75        0.82
N12-014*             15.22        16.15         0.93         33.4          28        0.83
                     16.15        23.77         7.62        50.26       42.36        3.37
including            16.15        19.88         3.73         96.6       84.37        6.72
including            19.10        19.88         0.78          141         165        10.4
N12-015               5.86         8.62         2.76         6.08        11.9        1.06
including             6.92         7.42         0.50         23.1          39        0.81
                     25.16        26.26         1.10         3.23          14        0.64
                     29.87        34.44         4.57        13.17        35.3        2.35
including            32.92        34.44         1.52         28.4          31        2.31
N12-016              10.06        14.63         4.57        25.67        85.1        1.78
including            10.06        10.58         0.52        123.5         229        8.89
including            12.49        13.85         1.36         27.2         163        0.54
                     23.77        26.67         2.90        81.33        5.96        0.64
including            23.77        24.50         0.73          214           8        0.49
N12-018               2.44         3.96         1.52         2.62          23        1.02
                     34.14        35.66         1.52         2.98         0.5           0
N12-019              32.92        34.44         1.52         3.13           6        0.18
N12-020               0.00         5.49         5.49        19.23         125        1.32
                     10.06        11.58         1.52         2.27          55        1.18
                     24.40        25.30         0.90         2.26          28        1.57
                     31.87        32.92         1.05         2.35          74        2.88
N12-021              28.59        29.72         1.13         71.6          18        1.09
                     31.77        33.43         1.66        11.35          20        1.34
N12-022               5.18         5.48         0.30         2.42          15        0.43
                     16.15        17.67         1.52         4.47         0.5        0.02
N12-026              10.06        11.58         1.52         17.2           8        0.16
                     19.20        20.73         1.53         6.51           9        0.66
N12-028              31.39        32.92         1.53         6.04         0.5        0.01
                     35.87        37.49         1.62         23.3          25        1.56
N12-029              41.76        43.43         1.67         53.2           2        0.01

* In hole N12-014, the interval between 16.15 m to 23.77 m has approximately 50-per-cent
core recovery, and therefore, the data presented here are the weighted average of the 
material present and may not be representative of the actual grade of the intercept. The 
poor recovery is most likely due to the fine-grain nature of oxidized material being 
flushed during the drilling process. No voids were noted in this interval.

All drill intercepts and corresponding assay values reported in this news release have been reviewed and approved by David Adams, MS, BS, CPG, PGeo, who is a qualified person under the definitions established by National Instrument 43-101. Drill core at Nixon Fork is boxed and covered at the drill rig and moved to Nixon Fork's logging and sample preparation facilities by Fire River personnel. The core is then split down the centre using a typical table-fed circular rock saw normally at one-metre intervals. One-half of the core is sent for assay to ALS Minerals in Anchorage, Alaska, where it is dried, crushed and representative splits are transported to ALS Minerals labs in either Reno, Nev., or Vancouver, B.C., for assay, while the other half is returned to the core box and stored at Nixon Fork's sampling facility in a secure area. ALS Minerals complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analysis includes fire assay with gravimetric finish for gold and ICP for 33 other elements. ALS Minerals is at arm's length to Fire River. Nixon Fork's quality assurance/quality control procedures include the regular use of blanks, standards and duplicate samples. As a rough estimate, the true thickness of the above intercepts is approximately 76 per cent.

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