Fire River Announces Closing of Second Tranche of Brokered Financing for gross proceeds of $1.08 Million

    




 /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.  WIRE SERVICES/  

 FAU: TSXV FVGCF: OTCQX FSE: FWR 

 VANCOUVER, Sept. 4, 2012 /CNW/ - Fire River Gold Corp. (the "Company")  (OTCQX: FVGCF)  announces that it  has closed the second tranche of its previously announced brokered  private placement financing (the "Offering").  The Company issued  16,602,709 Units at a price of $0.065 per Unit for aggregate gross  proceeds of $1,079,176.09.  Each Unit consists of one common share  ("Common Share") and one common share purchase warrant (a "Warrant").   Each Warrant entitles the purchaser to subscribe for one additional  common share (a "Warrant Share") at an exercise price $0.10 per Warrant  Share for a period of five years. 

 BayFront Capital Partners Ltd. ("BayFront") acted as agent in connection  with the Offering. The Company paid BayFront, and the selling group, an  aggregate of $86,334.09 and issued 1,328,216 compensation options  (each, a "Compensation Option") as commission in connection with the  Offering.   Each Compensation Option is exercisable into one Unit at a  price of $0.065 for a period of five years. 

 The use of proceeds of the Offering will be used for the further  development of the Company's Nixon Fork mine and for working capital  and general working capital. 

 All Common Shares, Warrants, and Compensation Options, carry a  four-month hold period restricting them from trading until January 1,  2013. 

 About Fire River Gold 

 Fire River Gold Corp. is Alaska's newest gold producer, with a projected  30,000 ounces per year of gold to be produced on its wholly owned Nixon  Fork Gold Mine located in the resource rich Tintina Gold Belt.  Operations started in July 2011, with a near term production target of  30,000 oz/Au by end of year 2012, projecting an increase to 40,000  oz/Au per year in 2013, ramping up to a projected 50,000 ounces in  2014. This year-round mine program is producing both concentrate and  doré bars. Fire River Gold has fantastic growth potential, with  excellent targets identified to grow its current high grade resource.  Coupled with a strong management team and board of directors, Fire  River has a bright future ahead. 

  

 Cautionary Note Regarding Forward-Looking Statements  

 Certain statements contained in this news release constitute  "forward-looking information" as such term is used in applicable  Canadian securities laws, including with respect to the use of proceeds  of the Private Placement. Forward-looking information is based on plans  and estimates of management at the date the information is provided and  certain factors and assumptions of management. Forward looking  information is subject to a variety of risks and uncertainties and  other factors that could cause plans, estimates and actual results to  vary materially from those projected in such forward-looking  information. Factors that could cause the forward-looking information  in this news release to change or to be inaccurate include, but are not  limited to, the risks related to unsatisfactory results of due  diligence, international operations and doing business in foreign  jurisdictions, risks associated with mineral exploration and  development activities generally, the risk of commodity price and  foreign exchange rate fluctuations, and risks and uncertainties  associated with securing and maintaining necessary regulatory  approvals. The Company does not undertake to update any forward-looking  information except in accordance with applicable securities laws.  



Fire River Gold Corp.


CONTACT:  Tel: [phone]Email:[e-mail] or visit www.firerivergold.comSuite 340-1200 West 73rd Ave, Vancouver, B.C., Canada V6P 6G5 


    

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