High River Gold Announces Appointment of Chief Executive Officer and Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - May 15, 2012) - High River Gold Mines Ltd. (HRG.TO - News) ("High River" or the "Company") is pleased to announce the appointment of Yury Lopukhin as Chief Executive Officer and Georgy Smirnov as Chief Financial Officer.

Yury Lopukhin previously held the position of Chief Financial Officer at High River. Prior to that, he held the positions of Chief Financial Officer at Buryatzoloto OJSC and Senior Manager of Strategy at Severstal Resources CJSC. Mr. Lopukhin currently holds the position of Senior Financial Manager at Severstal Gold LLC ("Severstal Gold"), a subsidiary of Nord Gold N.V., High River's controlling shareholder. He graduated from Higher School of Economics in Moscow with an M.A. in Economics in 2000. Mr. Lopukhin is fluent in English and French.

Georgy Smirnov previously held the position of Head of Treasury at Sodrugestvo Group of Companies. Prior to that, he held various positions in the Finance Departments of X5 Retail Group and Eurochem OJSC. Mr. Smirnov currently holds the position of Head of Treasury at Severstal Gold. He graduated from the Moscow State Institute of International Relations (University) in 2002 with a degree in International Economic Relations. Mr. Smirnov is fluent in English.

For further information on High River please visit the company's website - www.hrg.ca.

Notes to Editors

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.