High River Gold Mines Ltd and ZAO Severstal Resources the mining division of OAO Severstal jointly announced that High River and Severstal's affiliate, Lybica Holding BV have mailed a take over bid circular dated June 24th 2009, a directors' circular dated June 24th 2009 and related documents to High River's shareholders.

The Offer Documents are in connection with the previously announced offer by Severstal for all of the issued and outstanding common shares of High River at a price of USD 0.22 per Share in cash. The Offer expires at 5:00 PM Toronto time on July 31st 2009 unless extended or withdrawn by Lybica.