Richview Resources Inc.

Richview Resources Inc.

January 03, 2008 08:53 ET

Richview Resources Inc. Completes $870,000 Private Placement

TORONTO, ONTARIO--(Marketwire - Jan. 3, 2008) - Richview Resources Inc. ("Richview") (TSX:RVR) is pleased to announce that it has completed a private placement for gross proceeds of $870,000 through the sale of 3,480,000 flow-through units at an issue price of $0.25 per unit.

Each unit consists of one flow-through common share and one-half non flow-through common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one additional non flow-through common share at an exercise price of $0.50 for a period of two years following the closing date.

All securities issued pursuant to the private placement will be subject to a four month hold period following the closing date.

Richview paid a finder's fee in respect of the private placement in the amount of $69,600, being 8% of the gross proceeds raised pursuant to the private placement.

About Richview

Richview is the sole owner of the past-producing Thierry Mine property in north-western Ontario, adjacent to the town of Pickle Lake. Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.

This press release is available on the Richview IR HUB for investor commentary, feedback and questions. Investors are asked to visit Alternatively, investors are asked to e-mail all questions and correspondence to where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to Richview. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. Richview has no intention or obligation to update the forward-looking statements contained in this press release.

Neither the TSX, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

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