NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

MAY 10, 2004 - 16:20 ET

High River Gold and Kinross Gold to Suspend Development
at the New Britannia Mine

TORONTO, ONTARIO--(CCNMatthews - May 10, 2004) - (TSX:HRG) - 
Today, High River Gold Mines Ltd. ("High River") and Kinross Gold 
Corporation ("Kinross") announced they have reached agreement to 
suspend development at the New Britannia Mine, located in Snow 
Lake, Manitoba. High River and Kinross each own a 50% interest in 
the mine with Kinross being the mine operator. The mine is 
expected to go into reclamation and closure at the end of the 
third quarter of 2004. 

Production at New Britannia is being negatively impacted by a 
thinning and flattening of the orebody in the current area of 
mining, contributing to fewer tonnes and a diluted grade. The 
increased 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 caused High River and 
Kinross to re-evaluate the mine and its future operations. 

Various options for the site were reviewed with the preferred 
operating option being to stop underground development and mine 
the developed ore over the next four months. As a result, the 
companies have revised downward the expected 2004 production 
levels to 33,000 ounces (100%) from the planned 68,000 ounces. It 
is expected, however, that the mine will generate positive cash 
flow until closure. 

The New Britannia mine team has done an outstanding job of 
operating the mine. Since commencing production in November 1995, 
the mine has produced in excess of 785,000 ounces of gold, 
approximately 100,000 ounces above original expectations. The New 
Britannia Mine has achieved an outstanding record in mine safety 
and for the year 2003 earned the prestigious John T. Ryan Safety 
Award, given to Canada's safest underground mine. The team at New 
Britannia has earned this award a total of five times (the Canada 
Trophy twice and the Regional Trophy three times) over the course 
of its eight years of eligibility. During this period, the New 
Britannia Mine Rescue Team were Provincial Champions a total of 
three times, including 2003, and received the Mine Rescue 
Technician Award twice. 

During fiscal 2003, High River incurred a non-operating loss of 
Cdn $14.2 million resulting from the write-down of the Company's 
share of the assets of New Britannia. In the future, High River 
expects to recognize a non-operating gain equal to the full 
amount (Cdn $30.3 million as at December 31, 2003) of the 
non-recourse joint venture obligation carried on the Company's 
balance sheet, once the disposition of its venture interest in 
New Britannia is finalized. 

The New Britannia gold deposit has had two periods of operation 
from 1947-1957 and more recently from 1995-present. Over the 
total life of the mine approximately 1.4 million ounces of gold 
has been recovered. 

The Snow Lake area remains an attractive area for gold 
exploration and High River is continuing its discussions with 
Kinross to consider new initiatives under which High River could 
pursue an aggressive exploration program in the area. 

High River and Kinross would like to thank the entire team at New 
Britannia for their hard work and dedication over the years, and 
for a job well done. 

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