Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

December 19, 2006 19:02 ET

Riverstone Announces Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 19, 2006) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES

Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) has now closed its recently announced private placement of 1,000,000 units of the Company at the price of $0.29 per unit, each unit consisting of one common share and one-half of one non-transferable warrant, each whole warrant entitling the holder to purchase one additional share of the Company at a price of $0.35 per share for a period of 12 months, until December 19, 2007. The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until April 20, 2007, except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.

The net proceeds of the private placement will be used to provide working capital for the Company and funds for further exploration of the Company's gold projects in Burkina Faso.

ON BEHALF OF THE BOARD

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

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

Contact Information