Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

July 16, 2007 09:00 ET

Riverstone Commences Additional RC Drilling on Kao Main Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2007) - Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) is pleased to announce the start of a second phase of Reverse Circulation (RC) drilling on the Kao Exploration Permit in Burkina Faso, West Africa. Previous drilling programs carried out by the Company on the Kao Main Zone have outlined multiple parallel gold zones that appear amenable to the development of a bulk tonnage gold deposit. The present program is designed to confirm the direction and dip of these gold zones and to test for continuity along strike. The zones are open in all directions. This phase of drilling will comprise approximately 1,400 metres, and will be concentrated on the Kao Main Zone.

Selected results from the first RC drilling program carried out in March 2007 on the Kao Main Zone include the following:

- 1.20 g/t gold over 8 m in 07-RC-001,

- 1.69 g/t gold over 12 m in 07-RC-002,

- 1.36 g/t gold over 24 m and 1.26 g/t gold over 10 m in 07-RC-004,

- 1.22 g/t gold over 30 m in 07-RC-006,

- 3.55 g/t gold over 10 m in 07-RC-012,

- 1.03 g/t gold over 12 m in 07-RC-014,

- 2.20 g/t gold over 8 m in 07-RC-016,

- 6.77 g/t gold over 4 m in 07-RC-017

"Our work on the Kao permit continues to produce high quality drill targets," commented M.D. McInnis, President of Riverstone Resources. "Results to date on the property indicate the presence of a very large gold system, with both significant strike and width potential."

The Kao Main Zone is located at the southern end of a 5.0 kilometre long gold-in-soils anomaly. Recent rock chip sampling within a 900 metre by 700 metre area of artisanal gold workings near the northern limit of the soil anomaly returned gold values ranging from 1.35 g/t to 23.8 g/t gold (See News Release dated June 4, 2007). This exciting new discovery indicates the potential for significant extension of the gold mineralized areas at Kao and is being mapped in detail before drill testing later this year.

The Kao permit is contiguous with the southern boundary of the Company's Rambo permit. Previous RC and core drilling on the Rambo permit by the Company delineated a gold zone over a strike length of 350 metres and for 170 metres down dip. Gold grades within the zone range from 1.16 g/t to 21.4 g/t over widths ranging from 3.0 metres to 18.5 metres. Orezone's Sega property is 25 kilometres southeast of the Kao permit and Golden Star's Goulagou property adjoins Kao on the northwest.

The Company maintains a rigorous quality control program involving the use of repeat assays, check assays at independent labs, and the use of verifiable blanks and standards from an accredited Canadian lab. All RC drill samples were assayed using standard fire assay with atomic absorption techniques, with samples grading in excess of 2.00 g/t gold re-assayed with a gravimetric finish, at the independent Abilab Burkina laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.

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
    (604) 801-6075 (FAX)
    Email: info@riverstoneresources.com
    Website: www.riverstoneresources.com
    or
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    (403) 240-0555
    or
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    (604) 986-0112