Fire River Receives Default Notice

Fire River Receives Default Notice

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Fire River Receives Default Notice

Canada NewsWire

VANCOUVER, Oct. 8, 2013

VANCOUVER, Oct. 8, 2013 /CNW/ - Fire River Gold Corp. (TSXV: FAU),
(OTCQX: FVGCF), (FSE: FWR) (the "Company" or "Fire River") announced
today that is has been unsuccessful in renegotiating the terms of its
Senior Secured Gold Stream Credit Agreement (the "Credit Facility")
with Waterton Global Value, L.P. ("Lender") and has received demand for
payment from the Lender.

The Lender has also notified the Company of its intention to enforce the
security granted to the Lender pursuant to the Credit Facility and of
its intention to take the Company's shares in its wholly owned
subsidiary, Mystery Creek Resources Inc., in satisfaction of the
Company's indebtedness to the Lender in accordance with its rights
under the British Columbia Personal Property Security Act. The result of such realization process by the Lender would be the loss
of substantially all of the Company's assets. The Company knows of no
reason that the Lender's realization process will not complete as
proposed.

Prior to the demand for payment, the Board of Directors of the Company
engaged in significant efforts to find additional sources of financing
for the Company. Ultimately, however, the Company was unable to find
additional financing, primarily due to the current difficult market
conditions.

FIRE RIVER GOLD CORP.

"Blane W. Wilson"

__________________

Blane W. Wilson

President and CEO

Cautionary Statement Regarding Forward-Looking Information

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.
This news release contains forward-looking statements regarding the
business and operations of Fire River Gold. In particular, statements
regarding use of proceeds and production targets in the upcoming years
are forward-looking statements. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from Fire River's plans or expectations include risks
relating to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory
changes, timeliness of government or regulatory approvals and other
risks detailed herein and from time to time in the filings made by Fire
River with securities regulators. Fire River expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.

SOURCE Fire River Gold Corp.