Richview Resources Inc.
TSX VENTURE : RVR

Richview Resources Inc.

November 28, 2006 16:12 ET

Richview Resources Inc. Announces $4 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2006) - Richview Resources Inc. ("Richview") (TSX VENTURE:RVR) is pleased to announce that it intends to proceed with a non-brokered private placement for gross proceeds of up to $4 million.

The Company intends to issue up to 11,428,571 flow-though common shares at a price of $0.35. The private placement is subject to all required regulatory approvals and all securities issued pursuant to the private placement will be subject to a four month hold period following the closing date. The private placement is expected to close on or before December 15, 2006.

A commission of up to 10% of the gross proceeds raised may be paid by the Company in connection with this financing.

Richview intends to use the proceeds of the private placement to continue exploration including diamond drilling on the Pickle Lake property (Richview 75%, Kings Bay Gold 25%) and to further delineate and upgrade historical surface resources at the Thierry mine property.

About Richview

Richview Resources is a Tier 1 TSX Venture Exchange Company that is conducting exploration and participating in joint ventures for base metal and gold. The Company's primary property is the copper/nickel Thierry Mine property near Pickle Lake, Ontario. This property was previously mined by Union Minere Exploration Company in the late 1970's and early 1980's. Operations ceased due to the depressed commodity prices prevailing at that time.

Richview has delineated a copper/nickel resource on the Thierry property that also contains economic values of platinum, palladium, gold and silver. The Company is now proceeding with a scoping study to determine the technical feasibility and economic viability of the project. This study will set out the parameters for proceeding with dewatering of the mine, metallurgical studies and conducting underground delineation drilling on extensions of the copper/nickel mineralization. The Company is also proceeding with surface exploration and evaluation of its 75% owned Pickle Crow gold property.

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.

This press release is available on the Richview Resources IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/richview. Alternatively, investors are asked to e-mail all questions and correspondence to RVR@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

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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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