NR - Troika Buyout!PRESS RELEASE tsx:hrg
HIGH RIVER GOLD ANNOUNCES CHANGE TO THE BOARD OF DIRECTORS AND INCLUSION IN FTSE GOLD MINES INDEX
Toronto, May 28, 2010 - High River Gold Mines Ltd. (“High River” or the “Company”) announced today the resignation of Richard Ogdon from the Board of Directors.
Polenica Investments Limited, an affiliate of Troika Dialog Group (“Troika”), which previously owned 150,000,000 shares or about 18.76 % of the Company, has decided to divest its position in High River. The company was informed that Severstal Gold N.V., a subsidiary of OAO Severstal, acquired 150,000,000 shares of the Company. As a result, Severstal Gold N.V. increased its shareholding in High River to approximately 68.88%.
In connection with above mentioned transaction, Richard Ogdon being Troika’s nominee decided to resign from the Board of Directors. Management and the Board of Directors of High River thank Mr. Ogdon for his service as a director.
High River was also informed about its inclusion in FTSE Gold Mines Index effective after the close of business on Friday, 18 June 2010, i.e. on Monday, 21 June 2010.
About High River
High River is unhedged gold company with interests in producing mines and advanced exploration projects in Russia and Burkina Faso. Two underground producing mines, Zun-Holba and Irokinda, are situated in the Lake Baikal region of Russia. Two 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 50% interest in the Prognoz silver project in Russia.
For more information: Igor Klimanov, CEO
High River Gold Mines Ltd.
Tel: 011 7 495 981 0910 ext. 6678
Email: info@hrg.ca • Web site: www.hrg.ca