NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

NOVEMBER 3, 2003 - 08:39 ET

High River Gold Mines Ltd.: Increasing Operating Costs
At New Britannia

TORONTO, ONTARIO--(TSX:HRG) - An increase in the mine operating 
costs at the New Britannia Mine, located in Snow Lake, Manitoba, 
has caused Kinross Gold Corporation (mine operator) and High 
River Gold Mines Ltd. to re-evaluate the mine and its future 
operations. 

Although both companies remain committed to extending operations 
as long as economically viable, the increased operating costs 
resulting from mining at deeper levels, a reduced strike length 
of the ore zones and a flattening of the ore zones adjacent to 
the McLeod Road Thrust Fault (causing increased dilution) could 
reduce the previous forecast life of the mine. 

At this time, Kinross and High River expect the mine will 
continue to operate at least until the end of 2004. Regional 
exploration activities are ongoing and a number of priority 
targets have been defined for future drilling that, with success, 
could have a positive impact on the mine over the longer term. 

Should efforts at extending the mine life prove unsuccessful both 
companies are committed to an orderly shutdown of operations. 

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