Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

June 14, 2007 11:26 ET

Riverstone Acquires New Permits in Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) - Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) is pleased to report the acquisition of two new exploration permits in Burkina Faso, West Africa. The Company now controls a total of 15 separate permits in seven project areas of the country, covering approximately 3,000 square kilometres. These properties are illustrated in the attached figure.

The two new permits, the 125 square kilometre Teyango permit and the 130 square kilometre Yantera permit, are adjacent to the Company's Solna permit in the eastern part of the country near the border with Niger. The permits were acquired to cover the possible strike extensions of the gold-bearing zone on the Solna permit. The three permits cover a 40 kilometre strike length of a prospective northeasterly trending deformation zone which cuts through each of the permits. Within this zone, sedimentary and volcanic rocks are highly sheared and locally brecciated, and a number of artisanal gold sites are present.

The portion of the deformation zone which underlies the Solna permit contains a three kilometre long gold-in-soils anomaly, defined by gold values in excess of 50 ppb, up to a maximum of 1950 ppb gold. The gold-in-soils anomaly contains a number of quartz and quartz-tourmaline veins, of various orientations plus two active artisanal gold mining sites. Rock sampling over the entire geochemical anomaly returned highly anomalous gold values, with an average grade of 3.56 g/t gold for all twenty-nine rock samples that graded in excess of 1.0 g/t gold.

The Company has excavated a number of trenches on the Solna permit perpendicular to the regional strike. The best trench results include 1.2 g/t gold over 3.0 m in SL-TR-06, 1.5 g/t gold over 3.0 m, 1.5 g/t gold over 4.5 m (including 3.6 g/t gold over 1.5 m) and 2.8 g/t gold over 3.0 m in SL-TR-07 and 7.3 g/t gold over 7.5 m (including 11.85 g/t gold over 1.5 m) and 7.4 g/t gold over 1.5 m in SL-TR-08.

The Company has initiated a program of regional mapping and sampling on the new Teyango and Yantera permits, which has already discovered several new artisanal gold mining sites. A regional soil geochemistry program is also in progress over both permits. Drilling is planned for later this year.

For further information about the Company and its activities in Burkina Faso, please refer to the Company's website at www.riverstoneresources.com and on www.sedar.com.

ON BEHALF OF THE BOARD

Michael D. McInnis, P.Eng., CEO & President

Paul G. Anderson, P. Geo., is a Qualified Person for RVS and has reviewed and approved the contents of this release.

Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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

Contact Information

  • Riverstone Resources Inc.
    Michael D. McInnis
    President
    (604) 801-5020
    or
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    (403) 240-0555
    or
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    (604) 986-0112
    Email: info@riverstoneresources.com
    Website: www.riverstoneresources.com