Richview Resources Inc.

Richview Resources Inc.

April 11, 2006 09:50 ET

Richview Announces Resource Report for the Thierry Deposit

TORONTO, ONTARIO--(CCNMatthews - April 11, 2006) - Richview Resources Inc. (TSX VENTURE:RVR) ("Richview") - Richview is pleased to announce that it has now received a full report in support of the resource calculation for its 100% owned Thierry Mine property (the "Thierry Property") from its consultants P&E Mining Consultants Inc. ("P&E") and filed the report on SEDAR ( The report has been prepared in compliance with National Instrument 43-101 and provides detailed information in support of the resource calculation for the Thierry Property as set out in the company's press release dated February 22, 2006 and reproduced below.

Resource Estimate @ 1.3% Cu Cut-Off Grade

Cu Ni
Cu Ni (million (million
Classification Tons (%) (%) lbs) lbs)
Measured 17,000 1.71 0.25 0.6 0.1
Indicated 4,606,000 1.81 0.20 166.7 18.4
Measured & Indicated 4,623,000 1.81 0.20 167.3 18.5
Inferred 4,366,000 1.71 0.18 149.3 15.7

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

(2) The quantity and grade reported in this inferred resource estimation are conceptual in nature and there has been insufficient exploration to define an indicated mineral resource on the property and it is uncertain if further exploration will result in discovery of an indicated or measured mineral resource on the property.

Report Recommendations

Based on the existing resource, P&E is of the opinion that the Thierry Property is a project of merit and warrants a development program to assess the technical feasibility and economic viability of proceeding to re-open the mine and place the project into production. The report recommends that a preliminary assessment (scoping study) be undertaken by Richview as the first stage in establishing the technical feasibility and economic viability of the project. This assessment should include:

- further definition of the existing resources with the aim of converting inferred resources into the indicated category

- evaluation of the content of copper-nickel platinum group elements ("PGE") within the resource base and the economic impact on the project of PGE recovery

- delineation of high priority zones for drilling in part to define extensions of known mineralized zones

- additional technical and economic evaluation of the K1-1, G, and J mineralized zones

- establishing operating parameters for mining the deposit

- establishing preliminary economic parameters for development of the mine

Although the high tonnage, low grade resources contained within the K1-1, G, and J deposits were not considered economic by Union Miniere Exploration Company ("UMEX") (see historical resource calculations below) using the then prevailing metal prices, the current era of relatively high base and precious metal prices provides an opportunity to re-assess these resources.

Historical Drill Indicated Resources (Reserves) Reported for the J, G
and K1-1 Deposits

Deposit Historical Reserve
Parameters Tons Cu % Ni % Remarks
Drill indicated,
in-situ reserves
K1-1 Surface to 1000 75,000,000 0.38 0.11 UMEX 1973, 1981

J & G -surface to level 600 44,700,000 0.40 0.11 UMEX 1974, 1981
-surface to level 1000 55,000,000 0.40 0.11 UMEX 1974, 1981

(The preceding resource estimates are historical in nature and as such are based on prior data and reports prepared by previous operators. The work necessary to verify the classification of the mineral resource estimates has not been completed and the resource estimates, therefore, cannot be treated as NI 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon and there can be no assurance that any of the resources, in whole or in part, will ever become economically viable.)

The P&E report concludes that the economic significance of these deposits as potential sources of feed for a processing plant at a recommissioned Thierry Mine warrants evaluation using current metal prices.

Richview is now preparing a plan and budget to implement the recommendations of the P&E report and continue the development of the Thierry Property. Amongst other things, Richview intends to commence a scoping study to determine the technical feasibility and economic viability of the project and to set out the parameters for proceeding with dewatering the mine and conducting delineation drilling and extension of the copper and nickel mineralization.

About Richview

Richview is listed as a tier 1 issuer on the TSX Venture Exchange. The company is currently conducting exploration and participating in joint ventures for base metal and gold. The company's primary property is the Thierry Property, located near Pickle Lake, Ontario. This property was previously mined by UMEX in the late 1970's and early 80's. Operations ceased due to the depressed commodity prices prevailing at that time. Richview is continuing exploration to assess the potential to re-commence operations at the property.

Eugene Puritch, P.Eng. Tracy Armstrong, P.Geo. and Dr. Wayne Ewert, P.Geo. from P & E, are qualified persons as identified by National Instrument 43-101, and have reviewed and verified the technical content of this press release.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Issued Capital: 63,777,350 Common Shares

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

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