NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

FEBRUARY 10, 2003 - 16:35 EST

High River Gold To Acquire Equity Interest In Jilbey

TORONTO, ONTARIO--(TSX:HRG) - High River Gold Mines Ltd. ("High 
River") is pleased to announce that it has executed a letter of 
intent with Jilbey Enterprises Ltd. ("Jilbey" -TSXV:JLB) which 
will result in Jilbey obtaining from High River two mineral 
exploration permits adjacent to High River's Taparko property in 
Burkina Faso in exchange for Jilbey common shares. High River has 
made application for the permits. Following execution of the 
transaction, High River will hold an approximate 9.95% interest 
in Jilbey. The agreement is conditional upon the permits being 
acquired by High River, regulatory approval and board approval of 
both companies. David Mosher, President and CEO of High River, 
has agreed to join Jilbey's Board of Directors. 

High River's corporate strategy is to directly focus on advanced 
projects and to maintain exposure to potential grass roots 
discoveries, on prospective properties within trucking distance 
of its existing and future processing facilities, through 
preferred status agreements with well-managed exploration 
companies. 

High River will operate Jilbey-funded exploration programmes on 
these permits using High River's existing resources and 
infrastructure in Burkina Faso. In the event a deposit is 
discovered, High River will have the right to purchase a 50% 
interest in each property at a cost of 1.5 times Jilbey's 
expenditures to date on that property. If High River exercises 
its right, a joint venture would be formed and High River would 
be operator during the mine development and production stage. 

The two mineral exploration permits adjoin the east boundary of 
the Taparko property, which is covered by a Mining Investment 
Agreement and is held 80% by High River and 20% by the Burkina 
Government. The permits were acquired to protect extensions of 
known significant gold-related anomalies which extend off the 
Taparko property and along prospective stratigraphy and 
structures. 

As exploration operator of the programmes in Burkina Faso, there 
will be continuity of High River's technical expertise to the 
benefit of both companies. Exploration programmes are currently 
being planned and work is to commence as soon as possible on both 
properties. 

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