VANCOUVER,
Jan. 7, 2013 /CNW/ - Fire River Gold
Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company") has
entered into an amending agreement dated December 30, 2012 (the "Amending Agreement") with
Waterton Global Value, L.P. ("Waterton") pursuant to which it has
amended the terms of its senior secured gold stream credit
agreement dated March 30, 2012 as
amended July 18, 2012 (the "Credit
Agreement") between the Company and Waterton.
Under the terms of the Amending Agreement,
Waterton has agreed to an extension of the first repayment date
from December 31, 2012 to
July 31, 2013. In consideration
for the amendments, the Company must pay to Waterton $1,200,000 ("Additional Payable Amounts").
Subject to meeting certain conditions, the Company may be required
to make payments to Waterton for the Additional Payable Amounts
beginning May 2013.
Notwithstanding any payments that may be made in 2013, the Company
must pay $600,000 on January 31, 2014, less any payments made in 2013,
and the remaining $600,000 on
October 31, 2014.
All other terms of the Credit Agreement remain
in effect.
The foregoing is subject to the approval of the
TSX Venture Exchange.
About Fire River Gold
Fire River Gold Corp.'s flagship property is the
wholly owned Nixon Fork Gold Project located in the Tintina Gold
Belt, Central
Alaska. Operations at Nixon Fork commenced in
July 2011. Nixon Fork is a past
producing mine with a high grade production history, and a low
capital requirement due to pre-existing infrastructure. The mine
operates year-round producing both gold concentrate and doré
bars. District scale exploration potential provides
additional upside for the project.
ON BEHALF OF THE BOARD OF DIRECTORS
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.