Riverstone Resources Inc.

Riverstone Resources Inc.

August 12, 2008 15:44 ET

Riverstone Continues to Expand Gold Mineralization at Karma

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2008) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report that the latest results of drilling continue to extend the known near-surface gold mineralization on the Kao Main Zone. Riverstone has completed a fifth phase of shallow reverse circulation (RC) drilling at Kao, which forms part of the Company's Karma Project in Burkina Faso. Results include:

- 11.18 g/t gold over 8 m

- 2.56 g/t gold over 10 m (including 5.67 g/t gold over 4 m)

- 1.48 g/t gold over 28 m

- 1.51 g/t gold over 14 m

A total of 167 holes have been drilled to date on a grid at the Kao Main Zone where a shallow, gold mineralized zone some 800 metres by 400 metres has been identified. The latest results confirm continuation of the extension of near-surface gold mineralization to the northeast. The mineralized zone is still open to the north, to the northeast, to the southwest, and at depth (see attached map). In view of these encouraging results, six additional holes are being drilled to test the emerging northeast trend to the deposit.

This current phase of RC drilling comprised 2,064 metres in 17 drill holes drilled at -60 degrees. Most holes were limited to 100 metres in length with each hole covering a vertical depth of approximately 87 metres. The main objective of the program was to determine further extensions of the shallow oxide gold mineralization at the Kao Main Zone, particularly to the north and northwest, in preparation for an independent resource estimate. A secondary objective of the program was to provide material for metallurgical test work. Wardrop Engineering Inc. will undertake the resource estimate and supervise the metallurgical test work (see news release dated July 10, 2008).

Significant results from the drilling program are summarized in the table below.

Hole From To Hole Interval Grade
Number (metres) (metres) (metres) (g/t Au)
KAO-08-RC-151 96 124 28 1.48
KAO-08-RC-152 64 74 10 1.06
KAO-08-RC-153 118 138 20 1.36
KAO-08-RC-154 86 108 22 0.66
including 86 90 4 1.20
or including 102 108 6 1.32
KAO-08-RC-155 80 112 32 0.86
KAO-08-RC-158 16 34 18 0.83
including 22 26 4 1.97
and 116 126 10 2.56
including 116 120 4 5.67
KAO-08-RC-160 6 8 2 1.99
and 18 44 26 1.04
including 34 40 6 2.37
KAO-08-RC-161 18 22 4 1.17
and 38 46 8 11.18
and 94 108 14 1.51
KAO-08-RC-162 76 84 8 1.43
KAO-08-RC-163 32 36 4 1.21
and 76 78 2 1.05
KAO-08-RC-165 10 18 8 1.16
and 52 62 10 0.85

All holes were drilled at -60 degrees. Intervals reported are drilled intercepts, which may not represent true widths of the mineralized zones.

In addition to drilling at the Kao Main Zone, the Company also drilled on the adjacent Goulagou and Rambo permits at the Company's Karma project and results will be released when assays have been received and verified. The Kao Main Zone and Goulagou deposits are approximately 12 kilometres apart, separated by flat terrain, with Rambo essentially midway between.

The contiguous Kao, Goulagou, Rambo and Rounga permits make up the Company's Karma project. Goulagou contains a NI 43-101 compliant indicated resource of 280,000 ounces of gold at a grade of 1.70 g/t and a further inferred resource of 270,000 ounces of gold at a grade of 1.49 g/t (see news release dated October 11, 2007). The Company's strategy is to develop sufficient gold resources within the Karma project area to support a mining operation utilizing a central processing plant. Riverstone has an initial target of developing at least 1,000,000 to 1,250,000 ounces of gold at Karma by late 2008 (see note below).

The Company maintains a rigorous quality control program involving the use of repeat assays, inserted blanks, and the use of verifiable standards from an accredited Canadian laboratory. All RC samples were assayed using standard fire assay with atomic absorption techniques, with samples grading in excess of 2.00 g/t gold re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of high quality exploration permits covering 3,500 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.


Michael D. McInnis, P.Eng., CEO & President

Note: The target estimate of at least 1,000,000 to 1,250,000 ounces of gold is based on the potential for gold resources in all categories of some 20 to 25 million tonnes containing an estimated average of 1.5 g/t gold which in turn is based on a reasonable projection of the results to date from drilling the mineralized zones on the Goulagou, Kao and Rambo permits at Karma and from the existing NI 43-101 resource estimates for the Goulagou deposits. The figures are intended to provide an indication of management's expectations and are conceptual in nature. To date, insufficient exploration has been undertaken to define this size of mineral resource and therefore it is uncertain whether the target will be delineated as a mineral resource or whether production will ensue.

Paul G. Anderson, P. Geo is a Qualified Person for RVS and has reviewed and approved the contents of this release.

To view accompanying map, please click on the following link: http://media3.marketwire.com/docs/RVS812Map.pdf

Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

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