High River Gold Mines Ltd HRIVF

Sacre-Coeur/Severstal news

[missouriminer]

Sacre-Coeur Grants Severstal Two Week Extension

Vancouver, British Columbia CANADA, February 01, 2011 /FSC/ -Sacre-Coeur Minerals Ltd. (SCM - TSX Venture, S5N - FWB), todayannounced that it has granted a two week extension for completion of duediligence regarding the proposed acquisition of Sacre-Coeur by NORDGOLD N.V., formerly named SEVERSTAL GOLD N.V. (the "Purchaser") andSEVERSTAL GOLD LLC ("Severstal Gold"), affiliates of OAO Severstal (LSE:SVST; RT: CHMF), in accordance with the binding agreement (the"Agreement") among the parties dated September 21, 2010, as referred toin their joint press release of September 22, 2010 (the "Transaction").Due diligence is still proceeding, together with the preparation of therequired documentation and other steps preparatory to closing theTransaction, which is subject to the successful completion of duediligence, court approval, securityholder approval and satisfaction ofcustomary closing conditions.

Pursuant to a second amendment to the Agreement dated January 28,2011, Sacre-Coeur has agreed to grant the Purchaser and Severstal Gold afurther two weeks to complete their due diligence review ofSacre-Coeur, now to be complete by February 14, 2011 and the partieshave now agreed to use their best efforts to complete the Transaction byApril 15, 2011, which date may be extended to no later than June 30,2011 if the parties are prevented from closing the Transaction by reasonof any court proceeding or in certain other circumstances. A furtherupdate will be provided at such time as new dates for the specialmeeting of the securityholders of Sacre-Coeur and closing have been set.


About Sacre-Coeur

Sacre-Coeur is engaged in the acquisition, exploration anddevelopment of properties for the potential mining of gold, metals anddiamonds in South America, initially focusing on exploration for gold onits properties in Guyana. Sacre-Coeur presently has an interest inapproximately 1000 sq. km of mineral properties in Guyana, including theMillion Mountain Property. Sacre-Coeur has offices in Vancouver, Canadaand Georgetown, Guyana. More information about Sacre-Coeur is availableat www.scminerals.com.


Forward Looking Statements

Certain statements herein constitute forward-looking statements orforward-looking information within the meaning of applicable securitieslegislation, including the statements or information about theTransaction. Forward-looking statements involve known and unknownrisks, uncertainties and other factors that may cause actual results,performance or achievements of Sacre-Coeur to be materially differentfrom any future results, performance or achievements expressed orimplied by such forward-looking statements or information.

With respect to forward-looking statements and information containedherein, we have made numerous assumptions including among other things,assumptions of our ability to close the Transaction. Although ourmanagement believes that the assumptions made and the expectationsrepresented by such statements or information are reasonable, there canbe no assurance that a forward-looking statement or information hereinwill prove to be accurate. Forward-looking statements and informationby their nature are based on assumptions and involve known and unknownrisks, uncertainties and other factors which may cause our actualresults, performance or achievements, or industry results, to bematerially different from any future results, performance orachievements expressed or implied by such forward-looking statements orinformation. Such risks and uncertainties include risks anduncertainties involved in satisfying the conditions to close theTransaction.

There can be no assurance that forward-looking statements orinformation will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements or information. All forward-lookingstatements and information made herein, are qualified by this cautionarystatement.


ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.