HIGH RIVER GOLD MINES LTD.

High River Gold Mines Ltd. announced today that the Toronto Stock Exchange has accepted notice and conditionally approved the listing of up to 150,000,000 common shares of the company in connection with a proposed private placement to Polenica Investments Limited, an affiliate of Troika Dialog Group. Subject to negotiation of final agreements and due diligence, as well as the receipt and clearance of a Personal Information Form in respect of Polenica by the TSX, Polenica will acquire 150,000,000 Shares, representing approximately 23.1% of the 649,213,040 currently outstanding Shares, at a price of $0.38 per Share. The proceeds of the Private Placement will be used by High River to repay the approximately US$27 million outstanding under the two credit agreements that were assigned by Standard Bank Plc to OAO Severstal as of April 20, 2009, with the balance being used to fund the exploration program at Buryatzoloto and for general corporate purposes.