Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

December 04, 2006 15:04 ET

Riverstone Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES

Riverstone Resources Inc. ("Riverstone" or the "Company") (TSX VENTURE:RVS) announces that it has agreed to sell on a non-brokered private placement basis of up to 1,000,000 units ("Units") of the Company at a price of C$0.29 per Unit for gross proceeds of C$290,000. Each Unit consists of one common share of the Company and one half of one share purchase warrant. Each full share purchase warrant will be exercisable to purchase one additional common share of the Company for a period of 12 months at a price of C$0.35 per share. The private placement is subject to regulatory approval. Securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing date.

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 project 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.

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