TORONTO, ONTARIO — (Marketwire) — 08/14/12 — (All currency figures are in Canadian Dollars unless otherwise noted)
High River Gold Mines Ltd. (TSX: HRG) („High River“ or the „Company“) today reported its financial position and operational results for the three month period ended June 30, 2012. The Unaudited Interim Consolidated Financial Statements and related Notes along with the Management-s Discussion and Analysis have been filed on SEDAR () and can be viewed on the Company-s website at .
HIGHLIGHTS FOR THE SECOND QUARTER 2012
Financial Results
Operations
Corporate
Subsequent Events
DISCUSSION OF FINANCIAL RESULTS
Selected Financial Results
The Company reported a net income of $31.5 million ($0.04 per share) in Q2 2012 compared to a net income of $57.6 million ($0.07 per share) during Q1 2012 and net income of $41.4 million ($0.05 per share) in Q2 2011.
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.
FORWARD LOOKING INFORMATION
This release contains 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, events, 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, including those risk factors discussed in the Company-s most recent Annual Information Form. 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.
Contacts: High River Gold Mines Ltd. Yury Lopukhin CEO 011 7 495 981 0910 ext. 6821
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