Riverside Resources Inc.

Riverside Resources Inc.

August 24, 2009 08:30 ET

Riverside Signs Definitive Agreement to Option Libertad Gold Project, Mexico to Geologix Explorations Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2009) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI) is pleased to announce that Geologix Explorations Inc. ("Geologix") (TSX VENTURE:GIX) and Riverside Resources Inc. have signed a Definitive Agreement to option the Libertad Gold Project in Sonora, Mexico (previously announced Letter Of Intent on June 22, 2009).

As mentioned in the June 22, 2009 news release (www.rivres.com/s/NewsReleases.asp), Geologix can earn an interest of up to 60% in Riverside's 100% owned Libertad Gold Project, located in Sonora, Mexico by incurring $3,000,000 in exploration expenditures and making payments totaling $400,000 over four years. During the option Geologix will take over all underlying property payments and claim maintenance fees. Once the initial option is complete Geologix has an additional option to earn a further 25% by spending another $2,000,000 on the Libertad property and making payments totaling $500,000 to Riverside within an additional two years.

About Riverside Resources:

Riverside is well financed with over $3,800,000 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 Mexico mineral database, and vast experience in the field. Riverside is currently operating an Exploration Alliance with Kinross Gold Corporation, and has optioned three of its properties in Mexico. Riverside is predominantly active in Mexico and Arizona where a drill program is expected to begin this fall at 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.


Dr. John-Mark Staude, President & CEO

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.

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