NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS

FOR:  HIGH RIVER GOLD MINES LTD.

TSE SYMBOL:  HRG

FEBRUARY 11, 1999

High River Gold Mines Ltd. - Record 1998 Production
Results At New Britannia

TORONTO, ONTARIO--High River Gold Mines Ltd. is pleased to report 
record 1998 gold production at significantly lower cash costs from
its 50 percent-owned New Britannia Mine.  The mine is located in 
Manitoba and TVX Gold Inc. is the operator. 

Gold production for 1998 was 97,603 ounces with a total cash cost 
of US $238 per ounce. Production levels represented an increase of
7 percent over 1997 and were 5.5 percent better than plan while 
costs were reduced by 15 percent from the previous year. 

Gold production for 1999 is forecast to be 98,000 ounces at a 
total cash cost of US $220 per ounce.  New Britannia currently has
18 months of ore developed ahead of mining with six months in 
drilled out status.  This advanced development provides the 
flexibility to optimize production and costs in 1999 and future 
years. 


/T/

-----------------------------------------------------------
Operating Highlights:
New Britannia Mine               1998         1997
      (100 percent)
-----------------------------------------------------------
Gold Production (ounces)        97,603       91,415
Total Cash Cost (US$/oz)          238          279
Tonnes Milled                  733,745      688,169
Grade (grams/tonne)              4.54         4.60
Recovery percent                91.1         89.8
-----------------------------------------------------------
/T/

Diluted reserves and in-situ resources at year end increased to 
910,000 ounces from 890,000 ounces in the previous year.  A gold 
price of US $325 per ounce and an exchange rate of 1.5 were used 
to estimate 1998 reserves.  Exploration drilling in 1998 and 
previous years has more than replaced total mine production to 
date of 272,000 ounces.  The Dick and Ruttan Zones remain open to 
depth below the 3000 foot level and preliminary drilling down to 
the 3650 foot level indicates the mineralized structure continues 
to that level. 


/T/

-----------------------------------------------------------
Gold Mineral 
Inventory:    
as at 
December 31             1998                 1997
New Britannia   -------------------------------------------
Mine          tonnes  grade ounces   tonnes   grade  ounces
(100 percent)         (g/t)                   (g/t)
-----------------------------------------------------------
Diluted     3,603,000 4.98  576,000  4,040,000  4.7  606,000
Reserves

In-Situ     1,996,000 5.21  334,000  1,730,000  5.1  284,000
Resources
            ---------       -------  ---------       -------
Total 
Mineral     5,599,000 5.06  910,000  5,770,000  4.8  890,000
Inventory
------------------------------------------------------------
/T/

In addition to its interest in the New Britannia Mine, High River 
is operator of the advanced Taparko Gold Project in Burkina Faso, 
West Africa, which is currently the subject of a feasibility 
study.  A report will be issued shortly on the progress of the 
feasibility study and on the Company's exploration activities.  
High River is also the largest shareholder of the Russian Company,
Buryatzoloto, which has two low-cost producing gold mines in 
southern Siberia. 

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