Richview Resources Inc.
TSX : RVR

Richview Resources Inc.

April 20, 2007 13:53 ET

Richview Resources Issues Clarifications

TORONTO, ONTARIO--(CCNMatthews - April 20, 2007) - Richview Resources Inc. (TSX:RVR) today issued the following clarifications, at the request of the Ontario Securities Commission (OSC) (Staff Notice: 51-703) related to published corporate communications. The request by the OSC was made upon review of certain of Richview's continuous disclosure materials pursuant to the OSC's Continuous Disclosure Review Program. Specifically, Richview issued clarifications relating to statements previously made regarding:



(1) contained metal values: Though the results of an Economic Analysis
and its subsequent reporting were prepared and authorized by
Richview's internal Qualified Person. The results were not
reviewed by an independent Qualified Person nor were they supported
by independent technical reports; and

(2) the current stage of development at the company's Thierry mine
project.


(1) Richview's PowerPoint presentation dated January 5, 2007, which appeared on the company's website, contained two slides that should not have been included in the presentation entitled: Contained Metal Value, and Economic Development Parameters. Such valuations are strongly discouraged by NI 43-101 because it does not account for capital costs associated with bringing a property into production, nor allow for adjustments due to recovery percentages, metallurgical issues (i.e. undesirable minerals), the availability of infrastructure (i.e. roads, electric power, rail lines, labour, mills etc.), mining and taxation laws, reclamation costs and other relevant factors. Disclosure of Economic Development Parameters (economic analysis) without a supporting technical report by an independent qualified person is prohibited by NI 43-101.

Richview has removed the PowerPoint presentation from the website and a revised presentation is being prepared. Richview retracts any previous disclosure of metal value or projected revenue.

(2) Richview is currently undertaking a preliminary economic assessment that will evaluate the tonnage and grade available for potential extraction at the Thierry mine project. Richview has also completed environmental impact studies that have not yet been publicly disclosed and has received all necessary permits and clearances for an initial phase of mine de-watering. This will allow access for an underground advanced exploration and delineation drill program designed to establish the technical feasibility and economic viability of the project.

As a note of clarification, Richview's corporate strategy is to execute all the necessary steps for the commencement of production at the Thierry mine project; however, there are a number of developmental phases that must first be completed. Production at Thierry is not assured at this time and is contingent upon a number of factors including completion of a feasibility study, additional environmental impact studies, necessary permitting and adequate financing going forward.

The press release has been reviewed by Brian Newton, Qualified Person (P.Geo) of Billiken Management Services Inc., who is independent of the company.

The Board of Directors and management of Richview are committed to ensuring that Richview, as a responsible issuer and market participant, adheres to all the rules and regulations of the Ontario Securities Commission and the TSX.

About Richview Resources Inc.

Richview is the sole owner of the past-producing Thierry Mine property in northwestern Ontario. The company is continuing exploration on gold joint venture projects at Pickle Lake (RVR 75%) and Headway in the Red Lake camp (RVR 15%). 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 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.

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.

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

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