Riverstone Resources Inc.

Riverstone Resources Inc.

December 12, 2007 13:15 ET

Riverstone Intercepts Significant Gold Mineralization at Kao

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2007) - Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) is pleased to report further results from the Phase 3 drill program recently completed on its Kao Exploration Permit in Burkina Faso, West Africa. The latest reverse circulation ("RC") drilling continues to extend known areas of significant gold mineralization within a large, near surface gold-bearing system.

New results include a 10 metre intersection of 7.82 g/t gold in Hole 079, 10 metres of 2.80 g/t gold in Hole 075, 18 metres of 2.22 g/t gold in Hole 076, 22 metres of 1.06 g/t gold in Hole 085 and 10 metres of 1.93 g/t gold in Hole 088 as shown in the table of results below and on the attached sketch.

Previously reported results (see news release dated November 15, 2007) from the Phase 3 program include 1.36 g/t gold over 100 metres, including 64 metres of 2.00 g/t gold in Hole 062, 26 metres of 1.77 g/t gold in Hole 063, 26 metres of 2.05 g/t gold in Hole 068, 22 metres of 1.79 g/t in Hole 069 and 24 metres of 1.73 g/t in Hole 070.

The Kao permit is contiguous with the company's Rambo permit and also the Goulagou permit. The Goulagou permit is held by the company under an option to purchase, and previous work has identified a National Instrument 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 will be undertaking further work programs commencing in January, including RAB (Rotary Air Blast) and RC drilling, on the Goulagou, Rambo and Kao permits with the objective of defining a combined resource of at least one million ounces of gold in 2008.

The Phase 3 drill program recently undertaken at Kao comprised 5,703 metres in 57 drill holes. Highlights of holes 071 to 089 are reported in the table below. All holes were drilled at -60 degrees. Intervals reported are drilled intercepts, which may not represent true widths of the mineralised zones.

Hole From To Interval Grade
Number (metres) (metres) (metres) (g/t Au)
KAO-07-RC-071 76 94 18 1.04
including 78 84 6 1.93
KAO-07-RC-072 2 6 4 1.14
and 18 22 4 1.32
and 44 48 4 1.89
KAO-07-RC-075 12 22 10 2.80
and 56 64 8 2.23
KAO-07-RC-076 18 42 24 1.84
including 22 40 18 2.22
KAO-07-RC-077 26 54 28 1.51
including 40 54 14 2.03
KAO-07-RC-078 64 78 14 1.39
KAO-07-RC-079 88 98 10 7.82
including 94 96 2 31.86
KAO-07-RC-080 24 28 4 1.25
and 48 50 2 1.37
and 60 72 12 0.93
including 66 70 4 1.37
KAO-07-RC-081 40 52 12 0.96
including 46 52 6 1.24
KAO-07-RC-082 58 64 6 1.29
KAO-07-RC-083 20 26 6 1.49
KAO-07-RC-084 72 86 14 1.04
KAO-07-RC-085 20 42 22 1.06
KAO-07-RC-086 96 100 4 1.65
KAO-07-RC-087 30 38 8 1.13
and 82 86 4 1.13
KAO-07-RC-088 54 64 10 1.93
and 68 70 2 1.57
KAO-07-RC-089 16 22 6 1.07

The Phase 3 drill program was designed to extend and infill drill a portion of the permit area now called the Kao Main Zone, which had been identified in previous RC drill programs (see news releases dated April 4, April 16, and September 12, 2007 and attached sketch). So far, the zone covers an area of approximately 300 metres by 300 metres. It remains open in most directions, including at depth.

The Company maintains a rigorous quality control program involving the use of repeat assays, check assays at independent labs, 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. 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

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


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

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.

To view the map accompanying this release please click on the following link: http://www.ccnmatthews.com/docs/1212rvs.JPG

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

Contact Information

  • Riverstone Resources Inc.
    Michael D. McInnis
    (604) 801-5020
    (604) 801-6075 (FAX)
    Email: info@riverstoneresources.com
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    (403) 240-0555
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    (604) 986-0112
    Website: www.riverstoneresources.com