May 17, 2010. Vancouver, Canada – FireRiver Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the “Company”) wishes to announce that further to its news release of May 4, 2010, and April 16, 2010, the Company has now completed its first tranche of its non-brokered private placement and accordingly has issued a total of 9,063,750 units (the "Units") at a price of $0.40 per Unit for gross proceeds of $3,625,500. Each Unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a purchase price of $0.60 for a period of 18 months.In connection with this closing of the first tranche of this financing, the Company has paid a total finder's fee consisting of an aggregate of $130,675 in cash. The securities issued in connection with this closing are subject to a hold period that expires on September 12, 2010.

The funds from the private placement will be used for the exploration and development of the Nixon Fork Gold Mine in Alaska, and for general corporate purposes.

About Fire River Gold Corp.

Fire River Gold Corp. is a near term production company with a superior technical team focused on bringing its flagship project: the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded gold mine with past production values averaging 1.4 opt (42 gpt).Nixon Fork is located within Alaska's Tintina Gold Belt, which hosts numerous world class deposits. Fire River Gold is a member of the International Metals Group ( A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.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.We seek safe harbour.