High River Gold Mines Ltd HRIVF

Closing of the Private Placement Dec.2-2009.

[merr]

News Releases
High River Gold Announces Clearance of PIF in Connection With CDN$57 Million Financing TORONTO, ONTARIO, Dec 01, 2009 (MARKETWIRE via COMTEX News Network) -- High River Gold Mines Ltd. ("High River" or the "Company")(TSX: HRG) announced today that the Toronto Stock Exchange (the "TSX") has received and cleared the Personal Information Form (the "PIF") in respect of Polenica Investments Limited ("Polenica") in connection with the previously announced proposed private placement (the "Private Placement") of 150,000,000 common shares of the Company (the "Shares") to Polenica, an affiliate of Troika Dialog Group. As previously announced, the TSX has conditionally approved the Private Placement, which involves Polenica acquiring the Shares at a price of CDN .38 per Share for total proceeds of approximately CDN$57 million. Closing of the Private Placement is expected to occur on or about December 2, 2009.