NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

JULY 7, 2004 - 14:37 ET

High River Gold Granted Exploitation Permit for Taparko
Project

TORONTO, ONTARIO--(CCNMatthews - Jul 7, 2004) - High River Gold 
Mines Ltd. ("High River") is pleased to announce that the 
"exploitation permit" for the Taparko Gold Project has been 
granted by the Burkina Faso Government. Following the permit 
grant, High River management and the Minister of Mines, Quarries 
and Energy of Burkina Faso met in Toronto to discuss the plan for 
developing the mine. Construction is to begin in the third 
quarter of 2004 with commercial production scheduled for the 
fourth quarter of 2005. 

The bankable feasibility study for the project was released on 
June 14, 2004 and the Technical Report under NI 43-101 will be 
filed shortly on SEDAR. Annual gold production will average 
approximately 91,000 ounces over a seven year period but will 
exceed 100,000 ounces in each of the first three years. High 
River believes there is excellent potential to expand both the 
annual production rate and the mine life. The plant is being 
designed for expansion. 

Negotiations for bank financing are well advanced and High River 
expects to finalize the term sheet this month and provide a 
mandate for the bank to begin due diligence on the project. 

High River recently hired Mr. Roger Lacerte as Taparko Project 
Manager, reporting to Daniel Vanin, the Company's Executive VP 
and Chief Operating Officer. Mr. Lacerte is a mining engineer 
with over 25 years of experience in mine operating and management 
positions in North America and Africa. He is fluent in French and 
English; his project management skills and African experience 
will play an important role in the successful development of the 
Taparko Project. 

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