By Marketwire,
April 20, 2009 at 9:00 PM
TORONTO, ONTARIO--(Marketwire - April 20, 2009) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announced today that both credit facilities with Standard Bank Plc ("Standard Bank") have been assigned by Standard Bank to OAO Severstal ("Severstal"). Both the credit agreement dated as of July 6, 2007 (the "High River Facility") between Standard Bank, High River, High River Gold Mines (West Africa) Ltd. and Jilbey Burkina SARL, as amended, and the credit agreement dated as of April 19, 2007 (the "Somita Facility") between Standard Bank, Societe des Mines de Taparko SA (known as Somita) and High River, as amended, were assigned by Standard Bank to Severstal as of April 17, 2009. Severstal is indirectly High River's largest shareholder, holding approximately 53% of the issued and outstanding common shares of High River.