Riverstone Resources Inc.
TSX VENTURE : RVS
FRANKFURT : 3RV

Riverstone Resources Inc.

July 13, 2010 11:22 ET

Riverstone Grants Options on Three Gold Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2010) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to announce that it has entered into option agreements with 0877148 B.C. Ltd. granting 0877148 B.C. the right to earn a 60% interest in Riverstone's Bissa West, Solna and Yaramoko properties in Burkina Faso. To earn its interest in each property 0877148 B.C. will be obliged to make payments totaling $100,000, incur minimum work expenditures of $1,500,000 and issue 360,000 common shares for each property. Under the Agreement, 0877148 B.C. is committed to an expenditure in the first year of $350,000 on each property for a total of $1,050,000. The option period is three years for the Solna and Yaramoko properties and two years for the Bissa West property. Riverstone will be the operator for the initial work programs on the properties.

"We are very pleased that additional aggressive exploration will now be funded by a third party for these three properties, allowing Riverstone to focus its activities on its principal Karma and Liguidi Malguem projects" said Michael D. McInnis, President of Riverstone. "Riverstone will be the beneficiary of substantial annual work commitments on these projects and, in the event a joint venture is formed, will still retain a significant interest."

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of six high quality exploration permits covering 2,300 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.

ON BEHALF OF THE BOARD

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Riverstone Resources Inc. - Vancouver Office
    Michael D. McInnis
    President
    604-801-5020
    info@riverstoneresources.com
    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