October 2, 2009. Vancouver, Canada - Fire River Gold Corp. (the "Company", "FAU") (CNSX: FAU) wishes to announce that 2,200,000 incentive stock options have been granted to directors, officers and consultants at an exercise price of $0.40 per common share for a period of five years.
The foregoing is subject to regulatory approval.
About Fire River Gold
Fire River Gold Corp. (FAU) completed its IPO at the end of May 2009. FAU is the newest member of the International Metals Group (IMG) and will have access to a well established team with over 100 years of experience working in Alaska. The primary focus of FAU is the exploration and development of gold projects in North America.
Nixon Fork Property
Highlights about Nixon Fork Gold Project
* ï‚·.Turn key mining operation
* ï‚·.Mine fully permitted and bonded
* ï‚·.Multi million dollar expenditures to date on equipment and facilities
The recently acquired Nixon Fork Gold Mine in Alaska has the potential to be a near term gold producer. For further information, please refer to FAU's news releases dated August 13, 2009 and June 29, 2009.
A budget of CDN$1.25 million has been allocated with the objective of conducting a reâ€evaluation of mine reserves/resources, metallurgy, tailings production scenarios, financial analysis and update on the exploration plan going forward.
Golden Zone Property
In an effort to continue to add to the Company's overall gold ounce bank and development schedule, on August 19, 2009, FAU announced an option to acquire 100% of the Golden Zone project. The project is located 240 km north of Anchorage, Alaska on the south flank of the Alaska Range and is road accessible.
A US$250,000 2009 program is in progress and will consist of a trenching and mapping program that will assay for gold silver and copper, a trenching program is in progress to test the southern extension of the Breccia Pipe mineralized zone. The Golden Zone has a NI 43-101 compliant mineral resource containing a measured and indicated resource of approximately 3.09 million tons grading 0.082 ounces per ton (opt) gold (2.81 g/t) using a cut-off grade of 0.03 opt gold (1.03 g/t) for a total of 259,940 ounces with 7.61 million pounds of copper and 1.39 million ounces of silver. The US$250,000 2009 program is in progress.
For further information on the Golden Zone Project, please refer to FAU's news release dated August 19, 2009.
Draken Property
FAU has commenced with an initial Phase I work program consisting of surface exploration program, detailed rock sampling, mapping, rock chip sampling and metallic sieve analysis on selected samples and is continuing to move forward with the Phase I exploration on its 100% owned Draken Project.
Please click HERE for further information on the Draken Property.
Kansas Creek Property
Management is currently re-evaluating the data on the Kansas Creek Property with the objective of outlining a Phase I exploration program. Management expects to have recommendations and the commencement of Phase I exploration program for the spring of 2010.
For further information on the Kansas Creek Property, please refer to FAU's news release dated June 19, 2009.
Further Information: Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: info@firerivergold.com or visit www.firerivrgold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3On behalf of the Board of Directors
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Harry Barr
President & CEO
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