Bullion River was incorporated under the laws of the State of Nevada on June 29, 2001 under the original name "Dynasty International Corporation.” Bullion River Gold Corp. made their initial public offering in January 2004. Bullion River Gold Corp. is a mineral exploration company focused on discovering and developing gold-silver deposits in the western U.S., chiefly in Nevada and California. The Company's goal is to become Americas next great gold producer as early as 2005. Nevada is the world's third leading gold producer behind South Africa and Australia. Significant discoveries continue to be made, and Bullion River Gold is positioned to be a part of this continuing success. California is famous for its high-grade veins, which produced significant gold in the past, and the states new business-oriented approach is opening up new opportunities for mining. From its offices in Reno, Nevada, Bullion River Gold is actively exploring a number of gold-silver properties in the most prospective mineral belts, properties with the potential to become producing mines.

Bullion River Gold Corp.'s current projects are well positioned, both within productive gold-silver districts as well as in potential new frontier areas where geologic evidence leads them. Their portfolio contains a mix of advanced-stage development projects and early-stage exploration projects. They are aggressively exploring and developing their properties through surface and underground drilling, surface geologic mapping and sampling, geophysical surveys and the use of 3D computer-based models.

On January 9, 2004, Antone Canyon Mining Corp. ("Antone Canyon") was assigned an option to acquire a 100% undivided interest in 60 unpatented mineral claims located in Nye County in the State of Nevada (the "Antone Canyon Property"). The option was assigned from Golden Spike Mining, a Nevada corporation, for an assignment fee of $146,142. Antone Canyon paid for the assignment fee by way of a loan from Bullion River. The Antone Canyon Property is within the regional north-trending mineralized belt, which includes the volcanic-hosted and sediment-hosted gold-silver deposits of Goldfield, Tonopah, Midway, Manhattan, Round Mountain, Gold Hill, and Northumberland. The local geology consists of Lower Paleozoic, variably metamorphosed sedimentary rocks, including limestone, calcareous siltstones, argillites, phyllites, schist, and quartzite, occupying a northeast-trending wedge between two large Cretaceous plutons. The Antone Canyon Property is located within the Barcelona Mining District, which is a zoned, polymetallic mineral system genetically related to the Cretaceous intrusive activity, which contains zones of high-grade gold-lead-zinc, gold-silver, silver, mercury-antimony veins as well as copper and molybdenum mineralization.

On February 18, 2004, Corcoran Canyon Mining Corp. ("Corcoran Canyon") was assigned an option to acquire a 100% undivided interest in 41 unpatented mineral claims located in Nye County in the State of Nevada. The option was assigned from Golden Spike Mining, a Nevada corporation, for an assignment fee of $43,596. Corcoran Canyon paid for the assignment fee by way of a loan from Bullion River. During 2005, they are planning to conduct exploration to determine what amount of minerals, if any, exist on the Corcoran Canyon Property and if any minerals that are found can be economically extracted and profitably processed. Their exploration program is designed to economically explore and evaluate the Corcoran Canyon Property. Their proposed exploration program consists of designing and completing a phase 1 drilling program to test extensions of the known resource and the New Target. The 3-dimensional analysis of the silver-gold resource has been completed. Preliminary work indicates potential for additional mineralization down dip and to the west, northwest, and possibly northeast of the resource, and these extensions include areas concealed by alluvium and post-mineral volcanics. Additional targets are expected to be developed through continued analysis of the volcanic stratigraphy, structure, and district alteration and mineralization patterns. They started their phase 1 proposed mineral exploration program in October 2004; however, due to inclement weather, the program had to be abandoned with the first hole. The program will resume in approximately May of 2005 and they expect to complete it during the third quarter of 2005. The decision to extend the proposed mineral exploration program on the Corcoran Canyon Property to phase 2 will be contingent upon reasonable encouragement from the results of the proposed mineral exploration program. When they complete phase 1 of the proposed mineral exploration program, and the results are positive, they will still have to undertake an extensive second phase that might consist of further soil sampling, geophysical surveys, trenching or drilling before they will be able to identify commercially viable reserves. The costs of phase 2 of the proposed mineral exploration program will be significantly more than the costs set forth above for phase 1.

On June 23, 2004, Bullion River entered into a letter agreement, whereby it proposed to acquire a 100% interest in the Washington Niagara Partnership by acquiring an option to buy all the outstanding partnership units for an aggregate purchase price of $1,500,000. On August 17, 2004, Bullion River staked an additional 21 mineral claims in the French Gulch district in Shasta County, California. On September 30, 2004 French Gulch Mining Corp., another wholly owned subsidiary of Bullion River was incorporated in the state of Nevada to conduct a surface and underground drilling campaign on the Washington Niagara property and French Gulch claims.

On September 28, 2004, Thomas Creek Mining Corp. changed its name to Wenban Spring Mining Corp. During June 2004, Bullion River acquired a 100% interest in the Wenban property by staking claims covering approximately 7.25 square miles in the Cortez Hills region of Nevada. In addition, during the period ended September 30, 2004 Bullion River terminated its option on the Thomas Creek property. The Wenban Spring Property covers approximately 7.25 square miles (19 sq km) southwest of the Cortez Hills gold deposit (+5 Moz gold @ - 4.4 g/t Au) controlled by the Cortez Joint Venture ("CJV"). The property directly adjoins claims held by the CJV and lies within 6 miles (9.6 km) southwest of the Cortez Hills deposit. Placer Dome Inc. (NYSE, TSX, ASX: PDG) is operator and 60% owner of the CJV, with Kennecott Minerals Company (subsidiary of Rio Tinto plc) owning 40%. Cortez Hills is a world-class, bulk-mineable Carlin-type gold system discovered in 2002. It is covered by post-mineralization alluvium at the north end of Grass Valley. Wenban Spring is on the west edge of the same valley. Four miles (6 km) southwest of Wenban Spring is the Toiyabe Carlin-type gold deposit, which produced about 90,000 ounces of gold from an open pit operation from 1987 to 1993. Regional structural analysis and project-scale geologic data indicate that a north-northwest trending range-front fault zone passes through the property. Fault systems of this orientation are the dominant control to gold deposits in the Cortez region, both Carlin-type sediment-hosted and volcanic-hosted epithermal systems. South of the property, the range-front orientation has a northeast trend that is the more typical range-front orientation. The switch to this north-northwest trend creates an embayment in the northern Toiyabe Range in the project area in which post-mineral alluvial cover may be thin. Rocks exposed in the range on the wet side of the structure are upper-plate siliciclastic rocks, which overlie potentially productive carbonate units like those that host the Toiyabe and Cortez Hills gold deposits. Preliminary fieldwork has identified an altered northwest-trending dike on the property. The altered dike is a further indication that the northwest fault zone is significant, deeply tapping and potentially mineralized. Intersecting the northwest fault on the north side of the property is a regional east-trending fault separating the upper-plate rocks to the south from Tertiary volcanic rocks to the north. The volcanics (Caetano Tuff, 35 Ma) are syn- to post-mineralization with respect to the Carlin-type gold systems, and are older than the productive volcanic-hosted systems in the region (e.g., Buckhorn). The intersection of the two structures under alluvial cover is considered a favorable setting for mineralization.

On February 23, 2004, North Fork Mining Corp. ("North Fork") was assigned three options to acquire a 100% undivided right, title and interest in an aggregate 42 unpatented mineral claims located in Sierra County in the State of California. Bullion River intends to carry out exploration activities primarily in regions containing gold or silver deposits, such as the Great Basin in the western United States and the Mother lode belt in California. Bullion River is seeking projects that contain or have the potential to contain high grades and large tonnage of gold or silver as well as projects that contain the potential for mineralization concealed under post-mineral cover. There is no assurance that Bullion River will locate any high grade and large tonnage or locate projects that contain the potential for mineralization concealed under post-mineral cover.

Bullion River Gold Corp. has completed the drilling of 16 underground core holes totaling approximately 9,000 feet at its French Gulch project, in California. The 16 holes represent about 30% of the planned 31,000-foot, 58-hole, and phase-1 program aimed at delineating reserves on the Lucky-7 and Washington veins. The 16 holes completed to date have targeted the down-dip projection of mineralization on the Lucky-7 structure below previously mined levels and have been successful in defining high-grade vein-stockwork gold mineralization, as reported last week. Four of the first 5 holes intersected at least one interval grading above 1 opt Au. Bullion River Gold Corp. is pleased to present strong assay results from the first 15 underground core holes at its fully permitted French Gulch mine near Redding, California. Results include: 1.89 ounces per ton (opt) gold (Au) over 13 feet within 30 feet of 0.84 opt Au in RBU-14; 1.95 opt Au over 6.9 feet in RBU-1; 2.18 opt over 2.2 feet within 0.27 opt over 24 feet in RBU-3; 1.26 opt Au over 1.5 feet within 0.21 opt over 31.5 feet in RBU-2; and 7.06 opt Au over 0.7 feet within .43 opt Au over 17 feet. The drilling was completed across the western part of the Lucky-7 vein in the Washington mine. Results confirm the presence of high-grade mineralization to at least 200 feet below levels mined previously (1990's), confirm the presence of coarse visible gold within a quartz-vein stockwork, and confirm that high-grade mineralization is present across mineable widths. Visible gold was encountered in 9 of the 15 assayed holes.

As of December 31, 2004 Bullion River had four fulltime employees in the corporate offices: Peter Kuhn - President, Jake Margolis - V.P. Exploration, Glenn Blachford - V.P. Engineering, and Gary Meckler - Officer Manager. Mr. Kuhn (50 years old) has been a director and the CEO of Bullion River since December 2003. Mr. Kuhn has been the sole director and officer of each of the five subsidiaries since December 2003. Mr. Kuhn received a Masters of Engineering Degree (M.E.) from Technical University of Clausthal (Germany) in 1983 and has been an engineer since 1983. Mr. Kuhn has more than 28 years experience in the mineral exploration and mining industry. Since May 2001, Mr. Kuhn has worked as a mining consultant. From November 1999 to April 2001, Mr. Kuhn was the President of BLM Service Group providing management and supervisory services. From August 1987 and October 1999, Mr. Kuhn worked for Thyssen Mining Construction of Canada providing management services, supervision and was responsible for the direction of the company. Mr. Kuhn is also a non-executive director of Capstone Gold Corp., a TSX Venture listed company.

Mr. Bradley (68) has been a director of Bullion River since February 2004. In the past five years, Mr. Bradley has been involved with Yamana Gold Inc., and until recently, was the founder, president, chief executive officer and a director of Yamana Gold Inc. Mr. Bradley is currently the chairman and a director of Yamana Gold Inc., which is a publicly traded company listed on the TSE in Toronto, the AMEX in New York and the AIM in London. Mr. Bradley is a chartered accountant and has been a director or officer of more than 11 mineral exploration companies. Mr. Bradley is also a non-executive director of Frontier Pacific Mining Corporation, a TSX Venture listed company. Mr. Dan Graves (49) has been the CFO of Bullion River since March 2005. From 2000 to 2004, Mr. Graves was the CFO of Northstar-at-Tahoe, a year round resort company in the Lake Tahoe area of California engaging in recreational operations and real estate development. Along with his financial duties, Mr. Graves was also responsible for the resort's $40 million lodging, food & beverage, rental equipment, golf, retail, and ski related businesses. From 1998 to 2000, Mr. Graves was V.P. of Finance for Killington Resort in Vermont and held other analytical positions within the winter resort industry for nine years. Mr. Graves has a Bachelor's Degree in Business Administration from California State University at Long Beach, California. Mr. Margolis (43) has been Bullion River's vice-president of exploration since December 2003 and the vice-president of exploration for North Fork Mining Corp. since June 2004. Mr. Margolis' duties are to direct and supervise Bullion River's exploration activities. For the past five years, Mr. Margolis has worked for Homestake Mining as a project geologist and with Anglo Gold USA as a senior geologist. Mr. Blachford (54) was initially retained as an independent consultant to prepare the underground rehabilitation and drilling program on the North Fork Property. Since May 1, 2004, Mr. Blachford has been a full time employee of Bullion River. Since June 2004, Mr. Blachford has been the vice-president of engineering of North Fork Mining Corp. Mr. Blachford's duties and responsibilities include preparing the underground and mill rehabilitation, and drilling program at French Gulch, as well as rehabilitating the underground for drilling at North Fork Property. Mr. Blachford was the chief estimator and chief engineer for Thyssen Mining Construction of Canada from 1996 to 2001 and has been an independent mining consultant for the past three years.

WFNN sees the stock moving up to $3.00 per share in the short run. With this management team, WFNN believes that their business prospects look bright. Seldom you find management with such properties to discover the gold.

Investor Relations

Leann Pinguelo
Bullion River Gold Corp.
1325 Airmotive Way, Suite 325, Reno, NV 89502
Tel (775) 324-4881 Ext. 116 Fax (775) 324-7893
Toll Free Tel - 1-800-540-2578 (BLRV)

Email: leann@bullionriver.com

Analyst: Dr. Joseph de Beauchamp
All financial numbers have been restated according to United States accounting standards and appear in millions of USA dollars. Data is updated daily at market close.
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