Riverside Resources Inc.

Riverside Resources Inc.

November 14, 2008 09:00 ET

Riverside Resources Receives NI 43-101 Report on Historic 1.2 Million Ounce Gold Body at Sugarloaf Peak, Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2008) - Riverside Resources Inc. (TSX VENTURE:RRI) is pleased to announce that it has received an independent NI 43-101 technical report for the Sugarloaf Peak Gold Project near Quartzsite, Arizona. The new report describes a number of historic non-NI 43-101 compliant resource estimations including 100 million tons at approx. 0.5 g/t gold average grade for a total of 1.5 million ounces gold (N.E. Dausinger, Jr., 1983, Westworld Inc. report concluded 100 million tons of 0.015 oz/t gold) from shallow drilling averaging less than 130m depth. A more recent report describes a higher grade historic, non-NI 43-101 compliant, estimated resource of 60 million tons of approx. 0.6 g/t average grade (N.E. Dausinger Jr., 1987) for a total of 1.2 million ounces gold with mineralization open to depth and along strike. These estimates are of historic resources and the Riverside geologic team has not yet completed sufficient work to confirm a NI 43-101 compliant resource. Therefore, the estimates cannot, and should not be relied upon. This historic resource estimation along with other estimations are summarized in the new NI 43-101 technical report which will be filed on www.sedar.com as well as made available on Riverside's website.

"We are delighted to be progressing and delivering on our deadlines with this new report that pulls together our data along with previous work spanning more than 30 years and has found additional non-NI 43-101 compliant resource estimations along with a treasure of previous exploration data," said John-Mark Staude, Ph.D., President and Chief Executive Officer, Riverside Resources. "Our geological team believes that there is an open pit gold body at Sugarloaf Peak which has ample room to expand laterally and with depth. The recent work adds significant value to both the project and the Riverside shareholders because now the project can cost effectively build upon previous work and has targeted the highest potential gold zones. The Sugarloaf Peak Gold Deposit is one of the cornerstone projects for Riverside and our exploration team will build on our recent work and compiled data from this report to move this project toward expanded discovery. In addition, we are continuing to look for high quality projects as well as partnerships with third parties on our Mexico portfolio of properties to ensure those projects continue to be advanced."

Sugarloaf Peak is in the same region of Arizona as the formerly open pit gold producing mines of the American Girl, Mesquite, Picacho and Copperstone. The Sugarloaf Peak project has favorable infrastructure and can be worked on year round. For over 50 years the property has been the object of intermittent drilling and small scale mining. During the 1950s through 1990s work on the property resulted in various historic, non-NI 43-101 compliant, resource estimations which Riverside has now compiled and is using for targeting in the next stage of exploration. The data compilation has also identified higher grade zones which indicate the potential for multi-gram high grade gold, with wide shear zones that will be part of the focus for the next stages of exploration work. The property's hydrothermal system has extensive quartz-sericite-pyrite alteration consistent with a large mineralized system. The historic drilling tested less than half the area exposed at surface and generally only to 100m depth thus leaving large volumes to further drill test. The wide spaced drilling did not focus on finding high grade zones but instead began outlining a bulk tonnage, large body of shallow mineralization with possible high grade zones which could positively impact the economics of a potential mine.

The technical content of this news release has been approved and field review completed by Mr. Locke Goldsmith, P Eng. and P. Geo, an independent qualified person as defined in NI 43-101. For more details on the mineralization and previous exploration of the Sugarloaf Peak Property, please visit www.rivres.com.

Riverside is well capitalized with more than $3.5 million in cash, no debt and less than 18 million shares issued and outstanding. The Company is moving forward with the Sugarloaf Peak project as scheduled. Recent results from the project can be found in the September 8, 2008 news release on the Riverside website www.rivres.com.

Riverside operates with a generative exploration business model using experienced local prospectors, explorers and geologists to identify and acquire high quality mineral opportunities. Riverside looks for the most cost effective ways to build share value. To date, Riverside has announced five property acquisitions in Mexico which are summarized at www.rivres.com and the Company continues building and joint-venturing a diverse mineral property portfolio.

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.

Contact Information