Bullion River Gold Corp.: Acquisition of Thomas Creek Project.

Business Editors

RENO, Nev.--(BUSINESS WIRE)--Feb. 23, 2004

Bullion River Gold Corp. (OTCBB: BLRV) has acquired an indirect interest in mineral claims in furtherance of its new business direction for the exploration of gold and silver in the western United States.

Thomas Creek Mining Corp., a wholly-owned subsidiary of Bullion River ("Thomas Creek"), has been assigned an option to acquire a 100% undivided right, title and interest in 76 unpatented mineral claims located in Eureka County in the State of Nevada. The option was assigned from Golden Spike Mining, a Nevada corporation wholly-owned by Peter M. Kuhn, the director and president of Bullion River, for an assignment fee of $53,740. The owner of the mineral claims has consented in writing to the assignment.

The option agreement provides for a term of 10 years that expires on December 20, 2012. In order to keep the option in good standing, Thomas Creek is required to pay the owner of the mineral claims (1) $20,000 on or before the second anniversary date, (2) $25,000 on or before the third anniversary, (3) $30,000 on or before each subsequent anniversary. Also, Bullion River will be required to issue 30,000 restricted common shares to the owner each year during the option term beginning with the effective date of the assignment and on each anniversary of the effective date of the option. The cash payments and the share issuances will have to be made each year to keep the option in good standing until Thomas Creek exercises the option or the option expires.

If, and when, Thomas Creek exercises the option, it will have to choose between granting (1) a 3% net smelter royalty ("NSR") to the owner with an option to reduce the 3% NSR to a 1% NSR by paying to the owner $1.3 million for each 1% NSR repurchased, or (2) a 2.5% NSR to the owner with an option to reduce the 2.5% NSR to a 1% NSR by paying $3.25 million to the owner.

The Thomas Creek project is in northeastern Nevada, 56 kilometers southwest of Elko and 23 kilometers southwest of the Rain gold mine operated by Newmont Mining Corp. The project contains a north-trending, high-level epithermal vein system traceable for 3.7 kilometers along a range-front fault. Rock-chip samples of banded to massive chalcedony with local bladed calcite, bladed silica-after-calcite, and pyritic zones have yielded gold values to 130 ppb Au with strongly-elevated Hg and other trace elements. The geochemistry and mineralogy are indicative of the high levels of an epithermal system above the main boiling zone, where high-grade gold-silver mineralization is deposited. Exposures of the veining occur at the edge of post-mineralization valley alluvium (pediment cover), dip west under the alluvial cover and reach widths of at least 30 meters. There has been no previous drilling.

The Thomas Creek project offers an opportunity to discover high-grade epithermal gold-silver vein mineralization along a relatively large strike length and with similarities to the productive, multi-million ounce Sleeper and Midas districts of northern Nevada. An exploration notice has been submitted to the Bureau of Land Management, and a 7-hole drilling program is expected to commence in March 2004, aimed at testing the deeper levels of the vein system.

About Bullion River Gold Corp.

Bullion River Gold Corp. is a mineral exploration company focusing on regions containing gold-silver deposits. The company's primary focus is the Great Basin in the Western United States and the Motherlode belt of California. Bullion River Gold Corp. seeks projects that contain or have potential to contain high grades and large tonnage potential. The company will also focus on projects that contain potential for mineralization concealed under post-mineral cover.

Approved by the Board of Directors:

BULLION RIVER GOLD CORP.

PETER M. KUHN, President

For more information, contact Bullion River Gold Corp. at [phone] or at [e-mail] or visit the U.S. Securities & Exchange Commission's website at www.sec.gov/ to review the Bullion River's latest filings.

This release contains certain statements that are "forward-looking" statements (as the term is defined in the Private Securities Litigation Reform Act of 1995). Any such forward-looking statements are inherently speculative and are based on currently available information, operating plans and projections about future expectations and trends. As such, they are subject to numerous risks and uncertainties, such as general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, and other factors over which Bullion River Gold Corp. has little or no control. Actual results and performance may be significantly different from expectations or trends expressed or implied by such forward-looking statements. Bullion River Gold Corp. expressly disclaims any obligation to update the statements contained in this release.