High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) is pleased
to announce that the Toronto Stock Exchange (the "TSX") has determined that High
River satisfies the TSX's continued listing requirements and is lifting the
delisting review.


As previously disclosed, the Company continues to be in breach of certain
covenants under the loan agreement ("RGI Agreement") between Royal Gold Inc.
("RGI") and High River's subsidiary, Somita SA, and the loan agreements (the
"Severstal Agreements") between OAO Severstal ("Severstal") and High River and
Somita SA (which were previously held by Standard Bank plc and assigned to
Severstal on April 20, 2009). The default under the RGI Agreement relates to
operational issues in connection with the inability of Somita to satisfy the
"Completion Test" (as such term is defined in the RGI Agreement) and these
issues are being addressed by the Company. The defaults under the Severstal
Agreements included breaches of certain financial covenants which have not been
waived but are in compliance now and a cross-default under the RGI Agreement.
The Company is current on all scheduled payments on the current portion of
long-term debt facilities, and in particular, has made all payments of principal
and interest under the RGI Agreement and the Severstal Agreements as they come
due. Although RGI and Severstal have not yet made any demands for payment or
taken any action, they continue to reserve their rights to do so. Severstal has
advised High River that, following completion of its subsidiary's take-over bid
for the common shares of High River, it will seek to restructure the Severstal
Agreements with a view to retirement of the loans.


About High River

High River is a gold company with interests in producing mines and advanced
exploration projects in Burkina Faso and Russia.


FORWARD LOOKING STATEMENTS

This release and subsequent oral statements made by and on behalf of the Company
may contain forward-looking statements. Wherever possible, words such as
"intends", "expects", "scheduled", "estimates", "anticipates", "believes", and
similar expressions or statements that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, have been
used to identify these forward-looking statements. Although the forward-looking
statements contained in this release reflect management's current beliefs based
upon information currently available to management and based upon what
management believes to be reasonable assumptions, High River cannot be certain
that actual results will be consistent with these forward-looking statements. A
number of factors could cause events and achievements to differ materially from
the results expressed or implied in the forward-looking statements. These
factors should be considered carefully and prospective investors should not
place undue reliance on the forward-looking statements. Forward-looking
statements necessarily involve significant known and unknown risks, assumptions
and uncertainties that may cause High River's actual results, event, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking statements. Although High River has attempted to identify
important risks and factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors and risks that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance that the
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, prospective investors should not place undue reliance on
forward-looking statements. Any forward-looking statements are made as of the
date of this release, and High River assumes no obligation to update or revise
them to reflect new events or circumstances, unless otherwise required by law.
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