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Last updated on April 23, 2014 at 21:24 EDT

Fire River Gold provides operations update

February 27, 2013

VANCOUVER, Feb. 27, 2013 /PRNewswire/ – Fire River Gold Corp. (TSXV: FAU),
(OTCQX: FVGCF), (FSE: FWR) (the “Company” or “Fire River”) is pleased
to provide this operations update.  Since the previous operations
update provided on November 29, 2012, the Company continues to make
progress, both in mine development and milling operations.

Mine Development

The Company implemented a new mine plan effective December 31, 2012 and
the January 2013 results of mining operations were encouraging.

The 2013 Mine Plan, focusing on high confidence targets and conservative
grades is starting to produce results.  Ore development headings,
started in the latter part of 2012, continue to demonstrate continuity
with good grade being realized. As confidence in the newly implemented
mine plan increased during the month, infrastructure and resources were
put in place to support additional development work and subsequent
production.

The first production stope in the Mystery Mine was started and continues
to deliver high grade ore. Additional adjacent mineralization has
increased the size of the zone and we expect to exceed both the tonnage
and grade forecast for this first production area. Additional
production areas are being designed and a second Bazooka small diameter
core drill has been purchased and is awaiting delivery to site. Future
plans are to ensure resource identification and delineation keeps ahead
of mining to sustain continued focus on the Mystery Mine.

In the Crystal Mine, we have been concentrating on mucking and hauling
from two existing longhole stopes with broken ore. Our Hagby diamond
drill is nearly finished the 3100 zone drill program; and resumption of
development is being scheduled for the near future, with priority on
nearby high confidence targets.  Design work and planning for access to
the 3550 zone is underway.

Mining statistics since October 31, 2012 include the following:

     _______________________________________________________________
    |Period  |Mined Ore Tonnes|Mined Waste Tonnes|Development Metres|
    |________|________________|__________________|__________________|
    |Nov 2012|        3,180   |         3,555    |         131.1    |
    |________|________________|__________________|__________________|
    |Dec 2012|        3,045   |         4,140    |         179.2    |
    |________|________________|__________________|__________________|
    |Jan 2013|        4,733   |         2,971    |         126.5    |
    |________|________________|__________________|__________________|

Milling Operations

Subsequent to the completion of the CIL (carbon in leach) circuit in
November 2012, the operations team at Nixon Fork has made significant
progress in the processing plant.  December saw improvement take place,
including repairs to the Larox tailings filter, purchasing of a second
Larox filter, replacement of the rod mill liners, and repairs to the
Falcon concentrator and the flotation cells.  During this time, the
mill was shut down for 7 days resulting in an unusually low plant
availability in December.

Operating statistics since October 31, 2012 include the following:

     ___________________________________________________________________
    |Period  |Number | Tonnage |Tonnes |   Plant    |   Gold   |Recovery|
    |        |of Days|Processed|Per Day|Availability|Production|  (%)   |
    |        |       |   (t)   |       |    (%)     |   (oz)   |        |
    |________|_______|_________|_______|____________|__________|________|
    |Nov 2012|   30  |   3,895 |   130 |       70   |     921  |    73  |
    |________|_______|_________|_______|____________|__________|________|
    |Dec 2012|   31  |   3,242 |   105 |       57   |   1,482  |    73  |
    |________|_______|_________|_______|____________|__________|________|
    |Jan 2013|   31  |   5,387 |   174 |       86   |   2,032  |    71  |
    |________|_______|_________|_______|____________|__________|________|

We are pleased to report that the first quarter of fiscal 2013 saw an
increase in gold produced of 46% over the previous quarter, producing
4,435 ounces of gold, and 4,205 ounces sold.  January production of
2,032 ounces far surpassed the previous monthly production record of
1,502 ounces set in February, 2012.  Our operating team continues to
work diligently at removing bottlenecks and ramping up production.  We
are seeing steady progress in all facets of our operations”,
said Blane Wilson, the Company’s President and CEO.

Other Infrastructure

During the quarter the Company entered into an agreement with a new fuel
supply air carrier solely dedicated to delivering fuel and providing a
portion of the freight service to the Nixon Fork project. This new fuel
supplier will compliment our other freight and fuel service providers
already in place and should significantly reduce downtime due to fuel
shortages.  We anticipate this service to be operational by early
March  2013.

ON BEHALF OF THE BOARD OF DIRECTORS
FIRE RIVER GOLD CORP.

“Blane W. Wilson”

Blane W. Wilson
President and CEO

Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements regarding the
business and operations of Fire River Gold. In particular, statements
regarding use of proceeds and production targets in the upcoming years
are forward-looking statements. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from Fire River’s plans or expectations include risks
relating to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other
risks detailed herein and from time to time in the filings made by Fire
River with securities regulators. Fire River expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.

 

SOURCE Fire River Gold Corp.


Source: PR Newswire