TORONTO, ONTARIO -- (Marketwire) -- 01/18/12 -- High River Gold Mines Ltd. ("High River" or the "Company") (TSX: HRG) announces its preliminary operational results for the year ended December 31, 2011. The numbers stated below are preliminary and subject to final adjustment.
HIGHLIGHTS FOR 2011
-- Total gold production (including silver in gold equivalent) reached 374
Koz (100%). In 2010, total gold production was 330 Koz (100%). 374 Koz
of gold (including silver in gold equivalent) have been sold in 2011.
-- The Zun-Holba and Irokinda Gold Mines operated by Buryatzoloto produced
134 Koz (100%). The recovery at Buryatzoloto was 93% in 2011.
-- The Taparko-Bouroum Gold Mine operated by Somita produced 133 Koz
(100%). The recovery at Taparko-Bouroum mine was 84% in 2011.
-- Gold production at Berezitovy was 107 Koz (100%). The recovery at
Berezitovy was 90% in 2011.
-- The mining license for the Bissa Gold Project was granted and the mine
construction commenced.
Buryatzoloto Combined Operational Data
Three months ended Year ended
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December September December December December
31, 2011 30, 2011 31, 2010 31, 2011 31, 2010
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Ore mined (Kt) 173 162 162 659 630
Ore processed (Kt) 174 177 174 680 661
Gold grade (g/t) 6.1 6.6 6.9 6.5 6.9
Gold production (Koz) - 36 34 35 134 136
100% (1)
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(1) Includes gold from tailings recovery and other sources.
Berezitovy Operational Data
Three months ended Year ended
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December September December December December
31, 2011 30, 2011 31, 2010 31, 2011 31, 2010
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Ore mined (Kt) 488 367 439 1,758 1,500
Ore processed (Kt) 334 366 251 1,391 1,050
Gold grade (g/t) 2.7 2.5 2.0 2.6 2.2
Gold production (Koz) - 29 26 16 107 67
100% (1)
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(1) Gold production for 2010 represents gold in dore alloy.
Somita Operational Data
Three months ended Year ended
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December September December December December
31, 2011 30, 2011 31, 2010 31, 2011 31, 2010
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Ore mined (Kt) 364 416 387 1,457 1,349
Ore processed (Kt) 325 404 362 1,421 1,274
Gold grade (g/t) 3.1 2.9 3.8 3.3 3.5
Gold production (Koz) - 27 34 30 133 128
100% (1)
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(1) Gold production for 2010 represents gold in dore alloy.
About High River
High River is an unhedged gold company with interests in producing mines, development and advanced exploration projects in Russia and Burkina Faso. Two underground 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 a 90% interest in a development project, the Bissa gold project in Burkina Faso, and a 50% interest in an advanced exploration project with NI 43-101 compliant resource estimates, the Prognoz silver project in Russia.
Contacts:
High River Gold Mines Ltd.
Konstantin Sobolevskiy
CEO
011 7 495 981 0910 ext. 6676
info@hrg.ca
www.hrg.ca