Richview Resources Inc.
TSX VENTURE : RVR

Richview Resources Inc.
YSV Ventures Inc.
NEX BOARD : XSVH

May 26, 2006 16:26 ET

Press Release: YSV Ventures Inc. and Richview Resources Inc.

TORONTO, ONTARIO--(CCNMatthews - May 26, 2006) - YSV Ventures Inc. ("YSV") (NEX Board of the TSX Venture Exchange:XSVH) and Richview Resources Inc. ("Richview") (TSX VENTURE:RVR) are pleased to announce that they have entered into a non-binding letter of intent (the "Letter of Intent") pursuant to which YSV intends to acquire from Richview and Richview intends to sell to YSV interests in certain mineral exploration properties in the Kirkland Lake-Larder Lake area of Ontario (the "Properties"). Pursuant to the terms of the Letter of Intent, YSV will acquire the Properties in exchange for the issuance to Richview of a number of common shares of YSV at a deemed issue price of $0.10 per share ("Proposed Transaction"). The actual number of shares to be issued will be negotiated between the parties, and, will primarily be based on the value ascribed to the Properties pursuant to a valuation of the Properties to be completed by an independent qualified valuator. The Proposed Transaction is an arm's length transaction and is subject to certain conditions as described below.

The Properties

The Properties consist of the following:

Kirkland Lake Property

The Kirkland Lake property is located approximately 12 km west of the Town of Kirkland Lake. The Kirkland Lake Property consists of 25 staked mining claims, comprising 138 units, covering an area of 2,346 hectares and 16 patented claims covering an area of 249.7 hectares for a total of approximately 2,595 hectares. At closing, Richview will convey to YSV a 100% interest in the mining claims comprising the Kirkland Lake Property.

Eby-Otto Properties

The Eby-Otto Properties consist of a West and a Central Property. The West Property consists of 12 leased, non-patented contiguous claims covering approximately 189 hectares in Eby and Otto Townships, approximately 12 km west of Kirkland Lake, Ontario. The Central Property consists of three leased, non-patented contiguous claims covering approximately 240 hectares in Otto township approximately 9 km west of Kirkland Lake, Ontario.

At closing, Richview will convey to YSV its option to earn a 100% interest in the Eby-Otto Properties. The 100% interest in the properties will be earned upon: (i) the payment to the option or of $35,000, of which $10,000 has been paid, a further $10,000 is to be paid on September 7, 2006, and a final $15,000 is to be paid on September 7, 2007; and (ii) incurring certain exploration costs in relation to the Eby-Otto Properties in the amounts of $75,000 during the first year of the agreement, an additional $75,000 during the second year and an additional $100,000 during the third year of the agreement. The 100% interest, once earned, will be subject to a 2% net smelter royalty in favour of the original optionor from any and all production from the property.

Lar Add Property

The Lar Add Property consists of 13 contiguous patented claims covering 204.7 hectares in the Larder Lake area, approximately three km southwest of Virginiatown, Ontario.

At closing, Richview will convey to YSV its option to earn a 100% interest in the Lar Add Property. The 100% interest in the property will be earned upon: (i) the payment to the optionor of $35,000 (which has been paid); (ii) the payment and issuance of $50,000 and 15,000 Richview common shares, respectively, on or before December 31, 2007; (iii) the payment and issuance of $50,000 and 25,000 Richview common shares, respectively, on or before December 30, 2008; and (iv) the incurring of certain exploration costs in relation to the property in the amounts of $100,000 on or before December 31, 2006, an additional $250,000 on or before December 31, 2007 and an additional $250,000 on or before December 31, 2008. The 100% interest, once earned, will be subject to a 2% net smelter royalty in favour of the original optionor from any and all production from the property.

Concurrent Financing

Concurrent with the closing of the Proposed Transaction, YSV intends to complete a financing on a private placement basis of up to $750,000 (the "Financing"). The net proceeds of the Financing will be used to fund exploration on the Properties and working capital.

YSV also intends to complete an interim financing of up to $350,000. The interim financing will be used primarily for working capital.

Sponsorship

YSV will be seeking an exemption from the sponsorship requirements of the TSX Venture Exchange (the "TSXV").

Description of Significant Conditions to Closing

Completion of the Proposed Transaction and Financing are subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. The Proposed Transaction and the Financing cannot close until the required shareholder approval is obtained. In addition, other conditions include all other necessary regulatory, court and third party approvals and authorizations, the completion of a definitive agreement setting forth the terms and conditions set forth in the Letter of Intent and discussed above and the completion of due diligence. There can be no assurance that the Proposed Transaction or the Financing will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Proposed Transaction and the Financing, any information released or received with respect to the Proposed Transaction and the Financing may not be accurate or complete and should not be relied upon. Trading in the securities of YSV should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Proposed Transaction or the Financing and has neither approved nor disapproved the contents of this press release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe YSV's or Richview's future plans, objectives or goals, including words to the effect that YSV or Richview management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

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

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