NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR:  HIGH RIVER GOLD MINES LTD.

TSX SYMBOL:  HRG

OCTOBER 4, 2004 - 12:00 ET

High River Gold Begins Dismantling The 'Mill 4 
Processing Facility'

TORONTO, ONTARIO--(CCNMatthews - Oct. 4, 2004) - (TSX:HRG) - High River 
Gold Mines Ltd. is pleased to announce that, having received approval 
from the State of Nevada, it has begun the dismantling and relocation of 
the "Mill 4 Processing Facility" recently acquired from Newmont Mining 
Corporation (press release - August 30, 2004). The Company intends to 
relocate the complete plant and other purchased equipment to its 
Berezitovy Project, presently under development in the Amur Region of 
southern Siberia, Russian Federation. The current plan is to have all 
components relocated to Russia and available for reassembly by March 
2005. Excellent progress is being achieved connecting the Berezitovy 
site to the low-cost regional power grid and local power is expected to 
be available in time for the reassembly activity.

With respect to the development of the Taparko-Bouroum gold mine in 
Burkina Faso, West Africa, High River is pleased to report the purchase 
of the complete fleet of nine haulage trucks. These off-highway trucks, 
Caterpillar 773D, can haul a load of 54 metric tonnes and will be the 
first use of this size of truck in the country. The cost of the trucks 
totalled approximately US $4 million. Two of the trucks are currently in 
transit to Burkina Faso and the remainder are expected to be delivered 
early in the new year.

In April, High River announced the results of a sensitivity study 
undertaken to evaluate the impact of a higher gold price (US $400 per 
ounce) on the economics of the Taparko Project and the potential for 
increased production levels and/or extending planned mine life. The 
study more than doubled the in-pit gold resource to over 1.3 million 
ounces from the 605,000 ounces, calculated at a gold price of US $350. 
High River recently engaged SRK to further this study to calculate the 
economic reserves using a US $400 gold price based on new pit designs 
taking into account the deeper pits and longer in-pit ramping system. 
The study will also review the impact of the higher gold price on the 
Bouroum deposits purchased by the Company in June. The study results are 
expected to be available by the end of October.

Forward-Looking Statements

This report contains forward-looking statements based on current 
expectations. These forward-looking statements entail various risks and 
uncertainties that could cause actual results to differ materially from 
those reflected. Risk and uncertainties about the Company's business are 
more fully discussed in the Management's Discussion and Analysis 
published in the Company's Annual Report and Annual Information Form.

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