Richview Resources Inc.
TSX VENTURE : RVR

Richview Resources Inc.

January 30, 2006 16:00 ET

Richview Resources Receives Encouraging Drilling Results at its Thierry Mine Property, Pickle Lake, Ontario

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2006) - Richview Resources Inc. ("Richview") (TSX VENTURE:RVR) announces encouraging results from its 2005 drilling program at its 100% owned Thierry Mine property located in Pickle Lake, Ontario (the "Thierry Mine"). This material includes and updates information released in earlier press releases dated January 25, 2006 and June 12, 2005.

During the period from October to December 2005, Richview continued its exploration program, drilling 8 diamond drill holes for a total of 14,968 feet (see accompanying table below for detailed results). These holes targeted the mineralization in and around the 1,200 foot level at various locations across the Thierry Mine deposit. This infill drilling was undertaken and designed to supplement limited historic data, which data is necessary to demonstrate the continuity of the mineralization, and to validate the previous drilling and sampling undertaken by the previous operator, Union Miniere Exploration and Mining Corporation, during the period 1978 to 1982 when the mine was operational.

In addition to the copper and nickel values, the mineralization also contains measurable amounts of platinum, palladium, gold and silver ("PGM's"). Additional work is required to assess the economic impact of these metals.

The results of this program clearly demonstrate the continuity of the mineralized zones at the 1,200 foot level. It also ties the intersections to the current and historic drilling intersections at deeper levels in the mine. The mineralized zones appear to be continuous along a 6,000 foot strike length to depths of up to 3,000 feet and widths up to 125 feet. A resource estimate based on the recent re-compilation of all available data is currently in progress and is expected shortly.

Work Program

The company is encouraged by the positive results obtained from the previous and most recent drill programs at the Thierry Mine property. The results indicate the continuity of the mineralization as well as potential for extending the mineralization and delineating higher-grade zones below the bottom (1,600 level) of the previous workings, which could be mined.

Richview is now completing a detailed re-interpretation of all the existing data to redefine the known mineralized zones with an emphasis on outlining zones for a resource calculation. In addition, a detailed evaluation of the relationships between the economic minerals (copper, nickel, and PGM's) is currently being undertaken.

In preparation for proceeding with the next phase of the exploration of the Thierry Mine property, the company has conducted an environmental review and submitted an application to obtain the permits necessary to de-water the mine workings for future underground exploration. A representative selection of mineralized drill core samples (400kg) have been submitted to SGS Lakefield Research for preliminary metallurgical testing to assess the recoverability of the various economic minerals at the Thierry Mine.

Quality Control

All analytical results reported herein are from samples collected during the normal logging process of the drill core as conducted by: Brian Newton (B.Sc.), James Burns (P.Eng.), Howard Lahti (Ph.D.), and Neil Willoughby (B.Sc.) all of whom are "Qualified Persons" as defined by National Instrument National Instrument 43-101.

Assaying and analytical work was performed by ALS Chemex. All samples were shipped to the ALS Chemex sample preparation lab in Thunder Bay, Ontario via bonded carrier. Once pulverized and crushed the individual samples were sealed and sent via bonded air carrier to the Vancouver offices of ALS Chemex. In Vancouver all samples underwent multi-element analysis for 41 elements, (ALS Chemex code ME-ICP41) as well as PGM analysis for platinum, palladium and gold (ALS Chemex code PGM-ICP23). Any over detection limit samples (all copper and nickel values greater than 1%) were re-assayed using Atomic Absorption (ALS Chemex code AA62) for a final assay reading in percent metal.

Additional Information

The full table of drilling results is attached to this 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.



Diamond Drill Hole Locations

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Drillhole # Location X Location Y Dip Azimuth Length (ft)
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PGM-05-52 L90+50E 11+774N -70 131 1634
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PGM-05-53 L10+783E 12+241N -60 127 922
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PGM-05-54 L11+246E 11+700N -70 129 1548.6
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PGM-05-55 L11+498E 12+700N -70 130 1640.4
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PGM-05-56 Not yet drilled - - - -
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PGM-05-57 L88+00E 11+410N -70 133 1266.4
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PGM-05-58 L88+00E 11+335N -74 135 1178
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PGM-05-59 L89+00E 11+620N -85 133 1651.2
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PGM-05-60 L90+00E 11+200N -80 144 941.6
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Mineralized Intersections

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Drillhole # From (ft) To (ft) Length (ft) Cu % Ni % Pt ppm Pd ppm
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PGM-05-52 1298.5 1313.3 14.8 2.105 .159 .024 .015
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PGM-05-53 1725.7 1756.6 31.2 .963 .119 .103 .364
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Incl. 1740.5 1745.4 4.9 1.42 .115 .086 .338
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PGM-05-54 1345.5 1358.9 13.4 2.213 .26 - -
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PGM-05-55 1345.1 1364.8 19.7 .935 .205 .137 .43
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less
than
1532.8 1537.7 4.9 3.93 .154 .005 .015
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PGM-05-57 1138.5 1157.5 19 1.417 .122 .058 .217
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Incl. 1148.3 1157.5 9.2 2.11 .1335 .064 .264
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PGM-05-58 909.1 923.8 14.7 2.861 .212 - -
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PGM-05-59 1270.3 1271.7 1.4 .61 .09 .037 .112
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1273 1277.6 4.6 .42 .07 .029 .106
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PGM-05-60 860.2 880.6 20.4 2.006 .168 .171 .593
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Incl. 864 876 12 2.513 .188 .216 .744
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Issued Capital: 63,777,350 Common Shares

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