High River Gold Mines Ltd HRIVF

Re: It will come...a bit delayed

[checkson]

pr 14, 2010 16:10 ET
High River Gold First Default Status Report
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.
For more information, please contact
High River Gold Mines Ltd.
Igor Klimanov
CEO
011 7 495 981 0910 ext. 6678
[e-mail]
www.hrg.ca
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