Riverstone Resources Inc.

Riverstone Resources Inc.

May 07, 2008 13:52 ET

Riverstone Extends Goulagou Mineralization to Depth at Karma

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report the results from a reverse circulation ("RC") drilling program recently completed on the Goulagou 2 Zone at its Karma project in Burkina Faso, West Africa. Highlights include:

- 2.45 g/t gold over 60 m (including 3.81 g/t gold over 32 m)

- 3.34 g/t gold over 26 m

- 4.21 g/t gold over 28 m

- 2.89 g/t gold over 22 m (including 4.34 g/t gold over 12 m)

- 2.24 g/t gold over 50 m (including 3.88 g/t gold over 16 m), and

- 2.00 g/t gold over 84 m (including 3.70 g/t gold over 36 m or 6.29 g/t gold over 14 m)

The Goulagou 2 Zone remains open to the east and west along strike, and also to depth.

The Goulagou permit contains a NI 43-101 compliant indicated near-surface resource of 280,000 ounces of gold at a grade of 1.70 g/t and a further inferred resource of 270,000 ounces of gold at a grade of 1.49 g/t within the Goulagou 1 and Goulagou 2 deposits (see news release dated October 11, 2007). The Goulagou deposits are part of the Company's Karma project, which also include the Kao Main and Rambo gold zones.

"We are very pleased with these results from our initial drill program at Goulagou," commented Michael D. McInnis, President of Riverstone. "We expect to undertake further drilling in preparation for an updated independent resource estimate. Along with continued exploration success at Kao Main and elsewhere on the Karma project, our target is to identify a resource of at least 1,000,000 to 1,250,000 ounces of gold in all categories at Karma in 2008." (See note below)

This phase of RC drilling by the company at Goulagou comprised 3,164 metres in 25 holes. The objective of the program was to drill test areas within the known mineralized zones where information is lacking and to test the deposit at depth. Significant results are summarized in the table below. All holes were drilled at -45 degrees to -60 degrees. Intervals reported are drilled intercepts, which may not represent true widths of the mineralized zones. One of the holes was lost before reaching the targeted depth.

Hole From To Hole Interval Grade
Number (metres) (metres) (metres) (g/t Au)
RVS-GLG-08-RC-001 42 44 2 6.02
RVS-GLG-08-RC-003 90 150 60 2.45
including 116 148 32 3.81
RVS-GLG-08-RC-004 38 48 10 3.62
RVS-GLG-08-RC-011 80 90 10 1.03
RVS-GLG-08-RC-013 64 90 26 3.34
RVS-GLG-08-RC-014 116 144 28 4.21
RVS-GLG-08-RC-015 102 138 36 1.18
including 102 110 8 2.25
and including 124 130 6 2.95
RVS-GLG-08-RC-016 82 92 10 1.01
and 120 140 20 1.99
RVS-GLG-08-RC-017 10 32 22 2.89
and 92 104 12 4.34
RVS-GLG-08-RC-019 2 52 50 2.24
including 8 24 16 3.88
RVS-GLG-08-RC-020 26 110 84 2.00
including 26 62 36 3.70
including 36 50 14 6.29
and including 90 110 20 1.02
RVS-GLG-08-RC-025 142 150 8 3.14

The Company is aggressively exploring the Karma project, which contains the Goulagou 1 and Goulagou 2, Kao Main and Rambo gold deposits. The three deposits form a triangle, and are 6 to 12 kilometres apart, separated by flat terrain. Riverstone has an initial target of developing at least 1,000,000 to 1,250,000 ounces of gold at Karma and expects to complete an updated NI 43-101 compliant resource for Goulagou as well as the first NI 43-101 compliant resource estimates for the Kao Main and Rambo deposits by late 2008.

Note: The target estimate of at least 1,000,000 to 1,250,000 ounces of gold is based on the potential for gold resources in all categories of some 20 to 25 million tonnes containing an estimated average of 1.5 g/t gold which in turn is based on a reasonable projection of the results to date from drilling the mineralized zones on the Goulagou, Kao and Rambo permits at Karma and from the existing NI 43-101 compliant resource estimates for the Goulagou deposits. The figures are intended to provide an indication of management's expectations and are conceptual in nature. To date, insufficient exploration has been undertaken to define this size of mineral resource and therefore it is uncertain whether the targets will be delineated as a mineral resource or whether production will ensue.

The Company maintains a rigorous quality control program involving the use of repeat assays, inserted blanks, and the use of certified standards from an accredited Canadian laboratory. All RC 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 SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of high quality exploration permits covering 3,500 square kilometres. For further information about the company and its activities, please refer to the company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.


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 Canadian securities acts or "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 of the United States of America. 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.

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