Riverstone Resources Inc.
TSX VENTURE : RVS
FRANKFURT : 3RV

Riverstone Resources Inc.

March 26, 2010 17:25 ET

Riverstone Announces Closing of $9.65 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2010) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE OR DISSEMINATION IN THE UNITED STATES

Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement financing and successfully raised $9,654,000 (the "Offering"). A syndicate of Fraser MacKenzie Limited, Macquarie Capital Markets Canada Ltd. and PI Financial Corp. (the "Underwriters") acted as underwriters on the Offering.

The Company issued 16,090,000 units at a price of $0.60 per unit, each unit consisting of one common share and one-half of one non-transferable common share purchase warrant, each whole such warrant entitling the holder to purchase one additional common share of the Company at a price of $0.85 per share until September 26, 2011.

In consideration for their services, the Underwriters received a cash commission of 6% of the gross proceeds received from the sale of the units and 965,400 compensation options (equal to 6% of the units sold). Each compensation option entitles the holder to purchase one common share of the Company until September 26, 2011 at an exercise price of $0.60 per share.

The shares and any shares issued upon exercise of the warrants and compensation options are subject to a hold period and may not be traded until July 27, 2010 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

The net proceeds of the private placement will be used for the further exploration of the Company's gold projects in Burkina Faso and for working capital.

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of six high quality exploration projects covering 2,300 square kilometres. For further information about the company and its activities, please refer to the company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.

ON BEHALF OF THE BOARD
"Michael D. McInnis"
 
______________________________________
 Michael D. McInnis, P. Eng., President & CEO

Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of Canadian securities laws, specifically with respect to the use of proceeds of the financing. Forward-looking statements are subject to risks which could cause actual events or results to differ from those disclosed in the forward-looking statements, including risks and uncertainties relating to the Company's surface access, labour disputes and the potential for unexpected costs and expenses. Forward-looking information is based on various assumptions including that the Company will maintain required permits and access to surface rights, that the Company can access appropriate equipment and sufficient labour and that the political environment in Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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