Renforth Resources Inc.

Renforth Resources Inc.

March 16, 2009 13:23 ET

Renforth Announces Completion of Purchase Agreement

TORONTO, ONTARIO--(Marketwire - March 16, 2009) - Renforth Resources Inc. ("Renforth") is pleased to announce that it has entered into an asset purchase agreement with Casey Enterprises Inc. (the "Vendor") concerning certain claims located in the McFaulds Lake Area "Ring of Fire" in Northern Ontario. These claims consist of 18 mining claims containing 288 units ("the Claims").

The Vendor shall sell the Claims to Renforth, for a purchase price consisting of the following:

(i) a cash payment of $150,000 to the Vendor; and

(ii) the issuance to the Vendor of 3,200,000 common shares in the capital of Renforth at a deemed issue price of $0.28 per share to be payable within ten business days of the Purchaser commencing trading on the TSX Venture Exchange.

About Renforth

Renforth Resources Inc. is a Toronto-based diamond and base metals exploration company with significant concessions in and around the McFaulds Lake "Ring of Fire" discovery area of northern Ontario. Renforth has an option to earn 55% interest in five diamondiferous kimberlites referred to as the Kyle kimberlites: two of which have undergone detail diamond drilling, providing sufficient sample volume for initial diamond content investigations, these are ready for a mini bulk-sampling stage; the remaining three kimberlites were targeted for detail drilling and preliminary diamond content evaluation, where up to 4 tonnes of sample were to be procured. Additional mineral claims lie within ten kilometres of Noront Resources Ltd.'s recent base metal discoveries at its Double Eagle Project. Renforth intends to continue to explore high-priority sulphide targets and kimberlite targets in 2009.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to Renforth. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. Renforth has no intention or obligation to update the forward-looking statements contained in this press release.

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

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