2010 Mining Explorers: Fire River Gold Corp.

FAU: TSX-V

President and CEO: Harry Barr

Vice President, Mining: Richard Goodwin

Manager of Geology: Larry Hillesland

Fire River Gold Corp. has reached an important milestone in its investigation of the Nixon Fork gold mine in Alaska.

After spending the past year sorting through the facilities, equipment and geological data left behind by the previous operator, the junior is now looking ahead to reopening the high-grade gold mine.

The Vancouver B.C.-based junior was formed in 2009 and later that year bought Nixon Fork - complete with a mill, underground development, an airstrip, camp, power plants and all the permitting - for US$3 million.

Richard Goodwin, an engineer with some 25 years experience, estimates that it would cost some US$150 million to establish the facilities that are already in place at Nixon Fork.

Since the purchase, Fire River's geological team has been re-evaluating some 10,000 meters of drill core left behind by previous operators of the mine.

About 9,400 meters of the past drilling, most of which tested a near-mill zone known as 3300, was never incorporated in a resource estimate.

With the knowledge gained from re-logging and re-assaying the historical core, Fire River's geological team launched a 28,000-meter drill campaign that is both delineating near mine resources and investigating promising new prospects on the property.

Two underground drills are focused on expanding 3300 zone at depth.

This high-grade ore body, located near the Crystal Portal and mill, is anticipated to be an early target for mining.

The underground program also is investigating several other zones in the vicinity of the mill, including the 3100 and 3500 zones.

The surface drill began its investigation at Whalen and North Star, two prospects about 1,500 meters southwest of the Crystal Mine.

In preparation for drilling geologists re-logged core from drilling completed at Whalen in 2007.

An inferred resource of 14,000 metric tons grading 32.4 g/t was calculated for a previous operator 2005.

During the winter months the surface rig will be reconfigured and moved underground.

Fire River engineers have focused on completing two preliminary economic assessments for Nixon Fork.

The first PEA evaluates utilizing a carbon-in-leach circuit about 60 percent installed by the previous operator, to reprocess 150,000 metric tons tailings from past production.

The tailing pond a few hundred meters down the hill from the mine, has an average grade of 8.1 g/t, or nearly 40,000 troy ounces of gold, could is a potential source for early production.

The second PEA will evaluate the economic viability of resuming underground commercial production.

The 200-ton-per-day gravity and flotation circuit utilized by past producers resulted in about an 83 percent recovery, adding in the CIL circuit is expected to up this rate to around 90 percent.

Instead of using the CIL circuit, Fire River is considering using the Merrill-Crowe Process, a separation technique that utilizes zinc to precipitate the gold, silver and copper out of the mixture.

A doré containing about 80 percent copper, 20 percent gold plus silver credits could be smelted onsite.

This process is expected to provide significant savings on the shipping of carbon and concentrate to and from the remote mine.

Fire River plans to have the second PEA completed at the end of 2010 and to begin operations at Nixon Fork in 2011.

Cash and short-term deposits: C$2.55 million (at April 30, 2010) (completes C$3.63 million private placement in June 7, 2010)(completes C$5.5 million private placement July 26, 2010)

Working capital: C$1.84 million

(at April 30, 2010)

Market capitalization: C$33.38 million

(at Sep. 17, 2010)

2303 West 41st Ave.

Vancouver, BC V6M 2A3

Tel: 604-685-1870 • Fax: 604-685-8045