Riverside Resources Inc.
TSX VENTURE : RRI

Riverside Resources Inc.

September 16, 2008 17:01 ET

Riverside Resources Mexico Gold Projects Options Accepted and Work Program to Commence

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2008) - Riverside Resources Inc. (TSX VENTURE:RRI) is pleased to report that the TSX Venture Exchange has accepted an independent National Instrument 43-101 Technical Report and other documentation submitted by Arcus Development Group Inc. (TSX VENTURE:ADG) related to the previously announced (April 14, and April 17, 2008) options on two of Riverside's Mexican gold exploration projects. The projects are the Chapalota and La Ventosa properties and were optioned to Arcus by Riverside by way of letter agreements dated April 10, 2008.

"Riverside is excited to see Arcus progress with its firm commitments to carry out exploration at two of Riverside's 100% owned Mexico projects. This should see a minimum of $350,000 and $250,000 in expenditures on Chapalota and Ventosa over the next 12 months," said Dr. John-Mark Staude, Riverside's President and CEO. "This agreement with Arcus is a good example of Riverside executing on its business model which involves using its technical team to generate quality early-stage exploration opportunities for its portfolio and then partnering with third parties to further the exploration. This strategy combined with Riverside furthering the exploration of select properties on its own, exposes our shareholders to a wider scope of exploration opportunities. In addition, our current working capital position should allow us to continue to execute on our business plan for the foreseeable future."

Eric Tweedie, the Arcus VP of Exploration stated, "We look forward to starting our work programs on the Mexican properties later this fall. We are currently outlining specific work plans and budgets for each property. The initial phase of work on both projects will identify drill targets. Phase two will include the drill testing of specific targets. At present, priority will be given to the work at Chapalota, based on the historic artisanal gold production in the area."

The Chapalota property is located in southern Sinaloa, Mexico near Geoinformatics' La Noria Project and south of US Gold's Magistral Mine. Arcus can acquire a 51% interest in the Chapalota property by making $300,000 in cash payments, issuing 350,000 Arcus shares and incurring exploration expenditures of $4,000,000 prior to September 12, 2012. Exploration expenditures in year one include a firm commitment of $350,000. Arcus can also exercise a second option to acquire an additional 14% interest in the property by incurring a further $2,500,000 in exploration expenditures and paying Riverside $500,000 within two years of acquiring its initial 51% interest in the property.

La Ventosa property is located in a relatively unexplored area of southeastern Oaxaca. Arcus can acquire a 51% interest in the La Ventosa property by making $150,000 in cash payments, issuing 200,000 Arcus shares and incurring exploration expenditures of $2,000,000 prior to September 12, 2011. Exploration expenditures in year one include a firm commitment of $250,000. A second option to acquire an additional 14% interest can be exercised by Arcus incurring a further $2,000,000 in exploration expenditures and paying Riverside $300,000 within two years of acquiring the initial 51% interest in La Ventosa property.

Neither property is subject to any underlying third party interests. Each property is the subject of an independent NI 43-101 technical report prepared by Derrick Strickland, P.Geo. Both reports will be available at SEDAR.com.

The intial payments from Arcus to Riverside will include at total of $75,000 and 100,000 shares of Arcus and will help add to Riverside's working capital. At the end of July 2008 cash on hand was estimated to be approximately $4,000,000.

Per the interim financial statements (filed on www.sedar.com on August 20, 2008), for the nine month period ended June 30, 2008. Riverside spent $986,036 in exploration on eight properties in three countries. The primary exploration focus was the Capitan Project in the Penoles District, Durango, Mexico where drilling has been completed and total expenditures of $429,851 have been incurred.

More information on Riverside as well at its portfolio of mineral projects can be found on its website www.rivres.com.

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" or "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. Riverside disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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