Richview Resources Inc.

Richview Resources Inc.

February 28, 2008 16:13 ET

Richview Resources Inc.: Deep Drilling Proves Up Continuity of Mineralization to Depth at the Past Producer-Thierry Mine, Pickle Lake, Ontario

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2008) - Richview Resources Inc. ("Richview") (TSX:RVR) is pleased to announce preliminary assay results from an on-going diamond drill program on the company's wholly-owned past producer, the Thierry Mine. The Thierry deposit hosts copper, nickel, silver, gold, platinum and palladium mineralization and is located near Pickle Lake, Ontario. The drill program which began August, 2007 has seen the completion of 14 holes, RV-07-1 to 14, as of Jan 30, 2008. The drill program will continue through to the summer of 2008.

To facilitate the interpretation of this press release a longitudinal section (Figure 1) is included depicting 43-101 compliant reserves and resource of the Thierry deposit as defined by P& E Consulting of Brampton, Ontario. Figure 1 also shows the location of all drill holes completed in 2007, current drill hole and several of the next proposed drill holes. Assay data is presented in Table 1 below.

The following drill hole review begins with holes drilled at surface on the west side of the deposit and progresses to the east with deeper drilled holes.

At the west end of the Thierry deposit, four near surface holes (RV-07-9, 10, 11 and 13) were drilled to target potential up-dip mineralization between sections 8,400E and 9,000 E. The objective was to locate near surface mineralization for open-pit mining. From these holes grades range from 0.51% to 0.69 % copper over downhole widths ranging from 2.1 to 9.0 feet.

Drill holes RV-07-6, 7 and 8 centered near section 8,5000E tested the western limit of the Thierry deposit at moderately shallow depths. Hole RV-07-6 intersected 1.34 % copper over a down hole length of 36.7 feet and extends the zone of mineralization very modestly to the west. Holes RV-07-7 and 8 delineate the western limit of mineralization.

Drill holes RV-07-1, 2A and 14 centered near section 9,000E confirmed historical drill results obtained by UMEX while they were in production between 1976 and 1982. Mineralized intercepts encountered grades ranging from 0.89% to 1.34 % copper over downhole lengths ranging from 15.1 feet to 23.1 feet.

Drill holes RV-07-3B, 4A, 5 and 12A, located between sections 9,700E and 10,700, target the main body of the Thierry deposit at depth. Holes RV-07-03B and 04A appear to define the western limit of the mineralization at depth and encountered grades ranging from 0.5% to 1.25% copper over downhole lengths of 14.9 feet to 16.5 feet respectively. Holes RV-07-05 and 12A, located progressively west of the latter holes, approach the main trend of mineralization (Figure 1) and as such have encountered significantly higher copper grades and mineralized widths. Hole RV-07-5 intersected 1.34% copper over a down hole core length of 45.2 feet. Hole RV-07-12A intersected 1.77% copper over a down hole core length of 23.1 feet (including 2.43% copper over 17.9 feet).

Hole RV-07-12A, the deepest hole of the current drill campaign, clearly indicates the continuity of mineralization from surface to depth (approximately 3200 vertical feet from surface). Mineralization in this hole is controlled by the "CBS structure", the dominant mineral controlling feature of the Thierry deposit. The CBS structure represents a high strain zone (shear zone) that is as strong and continuous at these depths as it is on surface. This bodes well for the continuity of this structure, and the mineralization that it controls, with continued depth.

The current hole, RV-08-15, on section 10,150 E, is being drilled to test the down dip extension of an historical UMEX drill hole that intersected 1.98% copper over a downhole length of 100 feet at a vertical depth of about 2400 feet.

Figure 1 shows the main zone of mineralization that extends from surface (shaft area, section 10,000E) to depth in a southeast direction. The company believes this zone of known mineralization may extend even further to the southeast (in direction of the arrow shown in Figure 1). Several proposed holes are planned to confirm this interpretation (Figure 1). The company now plans to fully channel its drilling efforts in this area to prove up this potential mineralization. Proving up the continuity of mineralization to these depths should add substantially to the know resource base of the project.

Along with copper, significant constituents of the mineralization from the Thierry Mine are varying amounts of silver, gold, platinum and palladium which contribute as "credits" to the potential economic viability of the project. Assays for these elements from each drill hole mineralized intercept have been converted to a copper equivalent value expressed in percent and presented in Table 1. These copper equivalent values have been calculated using an algorithm which takes into account individual metal prices (Jan 2008 24 month trailing averages), process recoveries, payable metal and refining charges are shown in the following table:

Metal Price Process Payable Refining
Charges US$
Element $US Recovery Metal
Cu $3.20/lb 90% 93% $0.60/lb
Ag $12.77/oz 50% 75% $0.40/oz
Au $665/oz 50% 75% $0.50/oz
Pt $1,247/oz 50% 75% $15.00/oz
Pd 342/oz 50% 75% $15.00/oz

The Cu equivalency algorithm is as follows CuEq equals Cu% + (Ag g/t x 0.0029) + (Au g/t x 0.1517) + (Pt g/t x 0.2875) + (Pd g/t x 0.0763). The copper equivalents are considered to represent close approximations of the value of the contained silver, gold, platinum and palladium in the Thierry mineralization.

All technical information in this release has been reviewed by Eduard Sawitzky, P.Geo, the Qualified Person, consulting geologist to Richview. All samples are sent to ALS Chemex prep laboratory in Thunder Bay, Ontario then shipped by ALS to their analytical laboratory in Vancouver, British Columbia. Copper, nickel, cobalt analyses employ ICP fusion. Silver analysis employs aqua regia and atomic absorption techniques. Gold, platinum and palladium analyses utilize fire assay, ICP-AES techniques.

Table 1


Hole ID Cu% (i)Cu Equiv% Length(ft) From(ft) To(ft)
RV-07-01 1.34 1.46 17.4 1556.0 1573.4
RV-07-02 0.89 1.10 17.6 1761.0 1774.6
RV-07-03B 1.25 1.33 16.5 2175.0 2191.6
RV-07-04A 0.5 0.60 14.9 2964.1 2979.0
RV-07-05 1.33 1.40 45.2 2876.9 2910.9
RV-07-06 1.34 1.42 36.7 997.7 1014.4
RV-07-07A 0.35 0.36 2.8 1353.0 1355.8
RV-07-08 0.19 0.24 20.0 929.8 949.8
RV-07-09 0.69 0.77 5.5 235.8 241.3
RV-07-10 0.51 0.58 2.1 288.6 290.7
RV-07-11 0.46 0.49 6.2 603.7 609.9
RV-07-12A 1.77 1.89 23.1 3141.4 3164.5
3141.4 3159.3
including 2.43 2.59 17.9
RV-07-13 0.56 0.61 9.0 587.0 596.0
RV-07-14B 1.34 1.50 23.1 1497.8 1520.9
(i)includes Au+Ag+Pd+Pt

To view Figure 1, a map of the longitudinal section, please visit the following link:

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.

This press release is available on the Richview IR HUB for investor commentary, feedback and questions. Investors are encouraged to visit Alternatively, investors can e-mail all questions and correspondence to where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

Some statements in this news release may contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

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

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