Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

November 15, 2007 11:04 ET

Riverstone Intersects 64 Metres of 2.0 g/t Gold at Kao

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Riverstone Resources Inc. (TSX VENTURE:RVS) is pleased to report initial results from the Phase 3 drill program recently completed on its Kao gold permit in Burkina Faso, West Africa. Previous work has shown encouraging results and the latest reverse circulation ("RC") drilling continues to intersect wide zones of gold mineralization within a large gold-bearing system.

Results include a 64-metre thick intersection from 6 metres to 70 metres of 2.00 grams per tonne (g/t) gold in Hole 062. The hole averaged 1.36 g/t gold over the whole length from 0 metres to 100 metres where the hole was stopped in mineralization.

Additional selected gold intercepts recently received include 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 as shown in the table of results below.

The Kao permit is contiguous with the company's Rambo permit and also the Goulagou permit. The Goulagou permit is held 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 is undertaking further work programs, including RC drilling, on the Goulagou, Rambo and Kao permits with the objective of defining a combined resource of at least 1,000,000 ounces of gold in 2008.

Highlights of the Phase 3 results so far 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.



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Hole From To Hole Interval Grade
Number (metres) (metres) (metres) (g/t Au)
------------------------------------------------------------------
KAO-07-RC-062 0 100 100 1.36
including 6 70 64 2.00
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KAO-07-RC-063 44 70 26 1.77
including 52 70 18 2.35
------------------------------------------------------------------
KAO-07-RC-068 50 96 46 1.45
including 70 96 26 2.05
or including 72 86 14 2.68
------------------------------------------------------------------
KAO-07-RC-069 38 74 36 1.33
including 46 68 22 1.79
------------------------------------------------------------------
KAO-07-RC-070 14 38 24 1.73
and 74 92 18 1.02
------------------------------------------------------------------


The drill program recently undertaken at Kao comprised 5,703 metres in 57 drill holes. It 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, available at the following link: http://www.ccnmatthews.com/docs/rvs1115.pdf). So far, the zone covers an area of approximately 300 metres by 300 metres. It remains open in most directions, including at depth, and is expected to remain so after all results from the recent drill program are received. Complete results of the Phase 3 drilling available to date are shown in the table below and further results will be reported when available. 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 Hole Interval Grade
Number (metres) (metres) (metres) (g/t Au)
------------------------------------------------------------------
KAO-07-RC-044 48 56 8 1.25
------------------------------------------------------------------
KAO-07-RC-047 2 26 26 0.58
or including 12 24 12 1.04
or including 20 22 2 2.74
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KAO-07-RC-049 0 32 32 0.62
or including 8 14 6 1.38
------------------------------------------------------------------
KAO-07-RC-050 4 6 2 1.03
and 24 34 10 0.58
including 24 26 2 1.17
------------------------------------------------------------------
KAO-07-RC-051 26 28 2 1.67
------------------------------------------------------------------
KAO-07-RC-052 64 70 6 1.03
------------------------------------------------------------------
KAO-07-RC-053 56 58 2 2.17
and 66 74 8 0.54
and 86 100 14 0.69
------------------------------------------------------------------
KAO-07-RC-054 42 44 2 1.40
------------------------------------------------------------------
KAO-07-RC-055 62 96 34 0.48
including 64 70 6 1.29
------------------------------------------------------------------
KAO-07-RC-056 40 62 22 0.83
including 42 44 2 1.12
and including 54 62 8 1.34
------------------------------------------------------------------
KAO-07-RC-057 26 28 2 1.81
and 34 44 10 1.30
------------------------------------------------------------------
KAO-07-RC-059 8 16 8 1.06
------------------------------------------------------------------
KAO-07-RC-061 0 96 96 0.52
including 14 32 18 0.91
and including 46 56 10 1.04
------------------------------------------------------------------
KAO-07-RC-062 0 100 100 1.36
including 6 70 64 2.00
including 8 18 10 2.86
or including 26 56 30 2.26
------------------------------------------------------------------
KAO-07-RC-063 0 108 108 0.55
including 44 70 26 1.77
including 52 70 18 2.35
------------------------------------------------------------------
KAO-07-RC-068 0 102 102 0.72
including 50 96 46 1.45
including 70 96 26 2.05
including 72 86 14 2.68
------------------------------------------------------------------
KAO-07-RC-069 0 96 96 0.60
including 38 74 36 1.33
including 46 68 22 1.79
------------------------------------------------------------------
KAO-07-RC-070 0 96 96 0.75
including 14 38 24 1.73
and including 74 92 18 1.02
------------------------------------------------------------------


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 with drilling programs currently in progress, including a 2,000 metre RC drill program underway at the company's Yaramoko property. 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, P.Eng., CEO & President

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

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.

Contact Information

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