NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

OCTOBER 17, 2003 - 12:00 ET

Harmony Sells Its Shareholding Of High River Gold

TORONTO, ONTARIO--High River Gold Mines Ltd. reported that on 
Thursday October 16, Harmony Gold Mining Company Limited sold its 
16.2% shareholding in the Company through a block trade for a 
price of Cdn. $1.75 per share, a discount of 12.5% from the 
previous day's closing price of Cdn. $2.00.  The shares were 
placed with various institutions by BMO Nesbitt Burns of Toronto. 


Harmony previously stated that its decision to retain its 
investment in High River, as with all its strategic investments, 
depended on its assessment of whether it could add value to High 
River or gain control or significant influence over the Company.  
Harmony's board recently concluded these criteria could not be 
achieved in the short term and decided to sell its shareholding. 

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