TORONTO,
ONTARIO--(Marketwire - April 14, 2010) - High River Gold Mines Ltd.
("High River" or the "Company") (TSX:HRG) is
providing its first bi-weekly Default Status Report in accordance with
National Policy 12-203 - Cease Trade Orders for Continuous Disclosure
Defaults ("NP 12-203"). On March 31, 2010, High River
announced that its audited financial statements, management's
discussion and analysis, annual information form and related CEO and
CFO certifications for the year ended December 31, 2009 (the "Annual
Filings") would be filed late. A temporary management cease trade
order in respect of securities of the Company was issued by the Ontario
Securities Commission on April 7, 2010.
High River indicated in the original Notice of Default that it
anticipated that the Annual Filings would be filed by April 15, 2010.
High River now anticipates that the Annual Filings will be filed by
April 20, 2010. High River reports that since announcing the original
Notice of Default on March 31, 2010, other than the anticipated
additional delay, there have not been any material changes to the
information contained therein, nor any failure by High River to fulfill
its intentions as stated therein, and there are no additional defaults
or anticipated defaults subsequent to such announcement. Furthermore,
there have been no additional material changes in respect of High River
and its affairs that have not been generally disclosed.
High River will continue to provide bi-weekly updates, as contemplated
by NP 12-203, until the Annual Filings have been filed.
About High River
High River is unhedged gold company with interests in producing mines
and advanced exploration projects in Russia and Burkina Faso. Two
producing mines, Zun-Holba and Irokinda, are situated in the Lake Baikal
region of Russia. Two new open pit gold mines, Berezitovy in Russia and
Taparko-Bouroum in Burkina Faso, are also in production. Finally, High
River has two advanced exploration projects with NI 43-101 compliant
resource estimates, the Bissa gold project in Burkina Faso and a 50%
interest in the Prognoz silver project in Russia.
FORWARD LOOKING INFORMATION
This release and subsequent oral statements made by and on behalf of
the Company may contain forward-looking statements. Wherever possible,
words such as "intends", "expects",
"scheduled", "estimates", "anticipates",
"believes", and similar expressions or statements that
certain actions, events or results "may", "could",
"would", "might" or "will" be taken,
occur or be achieved, have been used to identify these forward-looking
statements. Although the forward-looking statements contained in this
release reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, High River cannot be certain
that actual results will be consistent with these forward-looking
statements. A number of factors could cause events and achievements to
differ materially from the results expressed or implied in the
forward-looking statements. These factors should be considered
carefully and prospective investors should not place undue reliance on
the forward-looking statements. Forward-looking statements necessarily
involve significant known and unknown risks, assumptions and uncertainties
that may cause High River's actual results, event, prospects and
opportunities to differ materially from those expressed or implied by
such forward-looking statements. Although High River has attempted to
identify important risks and factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors and risks that
cause actions, events or results not to be anticipated, estimated or
intended, including those risk factors discussed in the Company's 2008
Annual Information Form. There can be no assurance that the
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, prospective investors should not place
undue reliance on forward-looking statements. Any forward-looking
statements are made as of the date of this release, and High River
assumes no obligation to update or revise them to reflect new events or
circumstances, unless otherwise required by law.
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