VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2009) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI) is pleased to announce that it has acquired the Maravillas Gold Project in Durango, Mexico. The Maravillas Property is a large 340 km2 concession that the Company acquired through the use of its extensive mineral and geologic database. The Property lies within the Mesa Central Region of Mexico, which is subject to the Precious Metals Exploration Alliance (the "Alliance") that was established by Kinross Gold Corporation ("Kinross") and Riverside in early 2009 (News Release January 22, 2009) and accordingly, Kinross may elect to participate with Riverside in this opportunity at its discretion. Exploration on the Property has identified a large structurally controlled gold anomaly at surface with various centers of mineralization which Riverside is now actively exploring. Chip samples on the 33,984 hectares (340 km2) Property have produced gold grades ranging up to 1.5 g/t gold, 77g/t silver, and 1.5% copper.
"Riverside's Mexico Exploration Team has been actively assessing potential projects, with the use of Riverside's Mexican Mineral Database and local knowledge. The Company continues to be operator of the Alliance's exploration activities with various prospective projects actively being evaluated," Commented John-Mark Staude, President & CEO of Riverside. "With strong neighboring deposits such as Mapami and San Sebastian, the Maravillas Project has a location that is fitting for a new discovery."
Maravillas Gold Project:
Maravillas is located west of Penoles's historic Ojuela Ag-Pb-Zn mining operation on a north-south trending structural corridor parallel to the Ojuela and Descubribora/ Km 66 districts. The gold mineralization identified so far on the Maravillas Property is related to jasperoid occurrences controlled by a regional system of thrust faults with nearby and likely related silver and copper mineralization. It is most likely associated with a series of porphyritic intrusive dikes and sills. The intrusions are dacite porphyry, similar in mineralogy and textures to the intrusions at other significant metal districts in the Mesa Central such as the Penoles District, San Martin Zacatecas, and Velardena. The intrusions are interpreted to be of Tertiary age and mineralized the Jurassic-Cretaceous sequence of shales and limestone. A silica-alunite alteration zone that contains gold and silver mineralization occurs along the border of a graben structure and is associated with Jurassic volcanic rocks. Riverside's current program of sampling and mapping aims to delineate the extents and tenor of mineralization in order to identify the high impact target in the area.
About Riverside Resources:
Riverside is well financed, with over $3,200,000 in the treasury and 21,855,080 shares outstanding. The Company operates under a joint-venture, shared-risk business model that capitalizes on the Company's technical knowledge, proprietary mineral database focused on Mexico, and vast experience in the field. Riverside has a total of seven properties and has optioned three of its properties in Mexico. Riverside is predominantly active in Mexico and Arizona, where a 1000m drill program is underway on the Sugarloaf Peak Gold Project. Additional property information and diagrams that have been completed by Riverside's in-house exploration team can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
The technical content of this news release has been prepared and supervised by Marc Pryor, P. Geo who is the Company's Qualified Person (QP) under National Instrument 43-101 (NI43-101).
QA-QC Procedures: The Company has implemented a quality control program to ensure best practices in sampling and analysis in all its exploration programs. Duplicates, standards and blank samples are randomly inserted into the sample stream. Samples were delivered in secure, sealed bags to the assay labs for analysis. Gold is determined by fire assay with atomic absorption finish.
Certain statements in this press release may be considered forward-looking information, which statements can be identified by the use of forward looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks - including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.