Closing of Private Placement of $2.71 Million

4/27/2007 – RENO, NV – Bullion River Gold Corp. closed a private placement consisting of two parts. A private equity placement consisting of 2,280,336 units raised $1,710,250. A new secured convertible debenture agreement with Elton Participation Group that closed March 12, 2007 raised $1,000,000. Elton received a six month convertible debenture bearing simple interest at 10% per annum. The debenture is convertible into the company’s common stock at a price equal to $0.75 and is secured with the shares of French Gulch (Nevada) Mining Corp., the company’s subsidiary carrying out the mining activity in French Gulch.

These funds are being used for working capital and to improve the company’s production equipment at the French Gulch mine in Shasta County, NV. The company purchased two new state-of-the-art crushers for its mill. Installation of these new crushers is planned for early April and is expected to take approximately two weeks. Once installed, the new crushers will improve the continuous mill feed. The new crushers will increase the calculated mill capacity to 250 tons per day. The crushers have an ultimate capacity of 1,000 tons per day. This capacity will be used to crush waste rock and improve mill capacity after other equipment in the mill is upgraded. In addition, new haulage equipment and other mining equipment have been installed. Further upgrades to the mine’s equipment fleet, mill and infrastructure are planned during the coming months to increase tonnage and efficiency and lower production cost.

The company reported that it has successfully expanded into new production areas in the French Gulch Mine using the newly developed main decline; this expansion, which was originally slated for fourth quarter 2006, began in mid January 2007. Development continues to open up more stopes in the Lucky 7 vein system and to create access to the Washington vein system, which is located north of the Lucky 7. In addition, underground and surface exploration has led to the discovery of an additional vein system in the south of the Lucky 7. Additional exploration will be conducted to develop more ore resources in both known and new vein systems as well as the 257,800 ounces identified.

Peter M. Kuhn, president of Bullion River Gold Corp., said the company would continue to make equipment and production improvements to speed development in the mines. “We are taking a systematic approach to bringing on new equipment, analyzing our ore zones and handling our high-grade ore,” he said. “Although recovery remains near 90%, we are not yet satisfied with our production results. We believe these new steps announced today along with our continued daily focus on improving our operations will position us to yield the results we are seeking,” he said.