Richview Resources Inc.
TSX : RVR

Richview Resources Inc.

September 15, 2008 15:59 ET

Richview Resources Inc. Completes Private Placement for Gross Proceeds of $1,476,440

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2008) - Richview Resources Inc. ("Richview")(TSX:RVR) is pleased to announce that is has completed a private placement for gross proceeds of $1,476,440 through the sale of 10,376,400 non flow-through units at a price of $0.10 per unit and 3,989,089 flow-through units at a price of $0.11 per unit.

Each non flow-through unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one common share of Richview at an exercise price of $0.25 for a period of 24 months following the closing date. Each flow-through unit consists of one flow-through common share and one half of one share purchase warrant, each whole warrant entitling the holder to acquire one non flow-through common share of Richview at an exercise price of $0.25 for a period of 24 months following the closing date. A total of 14,365,489 common shares and 12,370,944 share purchase warrants are being issued by Richview pursuant to the private placement, and all securities being issued will be subject to a four month hold period following the closing date.

A finder's fee of $117,000 was paid to an arm's length third party in connection with the private placement.

About Richview Resources Inc.

Richview is the sole owner of the past-producing Thierry Mine property in northwestern Ontario, adjacent to the town of Pickle Lake. Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.

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

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