Fire River Gold Corp. Announces Temporary Suspension of Operations Due To Inclement Weather
FAU: TSX.V
FVGCF: OTCQX
FSE: FWR
VANCOUVER, Dec. 12, 2011 /PRNewswire/ - Fire River Gold Corp. [TSX.V: FAU| OTCQX: FVGCF| FSE: FWR] (the 'Company') announce that due to inclement weather conditions the mine and mill have been shut down to conserve fuel, as aircraft have been unable to land at site for 10 days.
This is quite an unusual situation, as in the past two winters flights have seldom been delayed by more than one day and never by more than three. Prior to start-up this summer the Company added one tank to its storage facility on site, increasing the storage capacity by 17% to plan for this possibility. Management is now reviewing what can be done to reduce this risk in the future, including increasing the storage capacity at site. Management will also meet with its air carriers to determine what measures can be taken to increase reliability and capacity for delivery of fuel to site.
The crews have not been able to change for their normal rotations and food supplies are low, but morale on site is as high as can be expected in these conditions. The weather forecast shows an improving trend over the next few days, which will allow the crews to be changed, resupply of food, removal of a shipment of produced gold-rich copper concentrates and refueling the tanks, followed by an orderly startup of the mine and mill.
Tim Smith, the Vice President of Operations states 'Although this is an unfortunate event the Company is doing everything it can to resolve the situation safely and thanks its employees for their patience and its staff for their work plus its air carriers for their support.'
On behalf of the Board of Directors,
(Signed)
Richard Goodwin
President & C.O.O.
Cautionary Note Regarding Forward-Looking Statements
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbour.
Fire River Gold Corp.
CONTACT: Further Information: Tel: +1 604 267 3040 Fax: +1 604 267 3042
Email: info@firerivergold.com or visit www.firerivergold.com
Suite 1100 -1200 West 73rd Ave, Vancouver, B.C., V6P 6G5
