Fire River Gold Closes Final Tranche of Financing for Proceeds of a Cumulative Total of $4,232,900

VANCOUVER, BRITISH COLUMBIA--Fire River Gold Corp. (TSX VENTURE:FAU)(OTCQX:FVGCF)(PINK SHEETS:FVGCF)(FRANKFURT:FWR) (the "Company") is pleased to announce that further to its news releases dated on May 4 and 17, 2010 it has closed the second and final tranche of its non-brokered private placement financing, first announced on April 16, 2010. Due to strong interest, the private placement has been over-subscribed for an aggregate total issuance of 10,582,250 units (the "Units") at a price of $0.40 per Unit generating gross proceeds of $4,232,900. The second and final tranche issuance consisted of an additional 1,518,500 units for gross proceeds of $607,400. Each Unit consists of one common share and one-half of one 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 the closing of the final tranche of the financing, the Company has paid $27,570 in finder's fees. In compliance with Canadian securities laws, all of the securities issued in connection with this closing are subject to a hold period expiring on October 4, 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 (www.internationalmetalsgroup.com).

On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.

Harry Barr, President and C.E.O.

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. 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. We seek safe harbour.