Riverstone Resources Inc.
TSX VENTURE : RVS
OTCQX : RVREF
PINK SHEETS : RVREF
FRANKFURT : 3RV

Riverstone Resources Inc.

October 31, 2011 09:15 ET

Riverstone Intersects 26 Metres Averaging 1.34 g/t Gold at the Kao Zone on the Karma Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(PINK SHEETS:RVREF)(FRANKFURT:3RV) is pleased to report additional results from 9 diamond drill holes from the on-going diamond drill program on the Kao Zone, which forms part of the company's flagship Karma Gold deposit in Burkina Faso, West Africa. (See Maps on Website: http://www.riverstoneresources.com/i/pdf/2011-10-28_NRM.pdf). The diamond drilling program on Kao is designed to test and upgrade known mineralized zones and to explore down dip and to the east from the existing resource. These results confirm the existing mineralization and also extend the mineralized zones up to 150 metres along strike to the east and down dip beyond the existing resource. The deposit remains open along strike to the east and down dip. It is significant that all of the 9 holes have intersected potentially economic grades and widths. Drilling is currently in progress to further confirm and extend the known mineralization.

Significant assay intervals are as follows:

  • 1.34 g/t Au over 26.0 metres
  • 1.11 g/t Au over 28.0 metres including 1.59 g/t Au over 14.0 metres
  • 1.7 g/t Au over 8.0 metres
  • 1.29 g/t Au over 10.0 metres and 2.18 g/t Au over 8.0 metres
  • 1.51 g/t Au over 8.0 metres

"These results continue to be very encouraging and exciting to the overall project," commented M.D. McInnis, CEO of Riverstone. "Kao is a shallow dipping zone and we are confirming and extending the presence of good grade gold mineralization along strike and down dip from the existing known resource. We expect that a substantial increase in the potential open pittable resource can be achieved by drilling that is planned to increase the overall resource."

Hole number Interval (m) Intercept Average
From To (metres) Grade (g/t Au)
KAO-DD-11-018 38.0 40.0 2.0 1.05
and 126.0 132.0 6.0 0.67
and 172.0 178.0 6.0 1.73
including 172.0 174.0 2.0 4.40
and 188.0 190.0 2.0 1.07
and 196.0 212.0 16.0 0.65
including 206.0 212.0 6.0 0.88
KAO-DD-11-019 38.0 50.0 12.0 0.94
including 40.0 44.0 4.0 2.25
and 82.0 94.0 12.0 0.58
including 88.0 92.0 4.0 1.09
and 108.0 114.0 6.0 1.12
and 128.0 130.0 2.0 1.25
and 146.0 150.0 4.0 0.86
and 186.0 196.0 10.0 0.58
KAO-DD-11-020 88.0 92.0 4.0 0.94
and 118.0 124.0 6.0 0.58
and 136.0 176.0 40.0 0.65
including 136.0 144.0 8.0 1.51
and 244.0 246.0 2.0 1.58
KAO-DD-11-021 144.0 148.0 4.0 0.91
and 160.0 186.0 26.0 1.34
KAO-DD-11-022 Previously released July 18,2011
KAO-DD-11-023
190.0 204.0 14.0 0.61
KAO-DD-11-024 24.0 26.0 2.0 1.20
and 112.0 140.0 28.0 1.11
including 116.0 130.0 14.0 1.59
and 152.0 162.0 10.0 0.69
and 182.0 190.0 8.0 0.71
KAO-DD-11-025 64.0 80.0 16.0 0.44
and 88.0 96.0 8.0 1.70
including 88.0 92.0 4.0 2.59
and 108.0 132.0 24.0 0.41
and 156.0 158.0 2.0 1.40
KAO-DD-11-026 90.0 100.0 10.0 1.30
and 174.0 182.0 8.0 2.18
KAO-DD-11-027 110.0 134.0 24.0 0.90
including 110.0 114.0 4.0 2.90
and including 128.0 134.0 6.0 1.10
and 246.0 248.0 2.0 3.58

The Kao deposit is part of the company's Karma Project which comprises a NI 43-101 compliant gold resource of 810,600 ounces of gold in 22,845,000 tonnes grading 1.10 g/t gold in the indicated category and 1,119,100 ounces of gold in 44,100,000 tonnes grading 0.79 g/t gold in the inferred category. (See news release dated February 28, 2011). Since the resource was calculated in February 2011, the company has drilled an additional 37,000 metres, and it is expected that the results of this drilling will add to the resource.

Riverstone maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. All core samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over one gram gold per tonne 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 six high quality exploration projects 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., CEO

Paul G. Anderson, P. Geo. is the 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.

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.
    Dwayne L. Melrose
    President
    604-801-5020

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    403-240-0555

    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    604-986-0112

    Riverstone Resources Inc.
    Don Mosher
    Corporate Development
    604-685-6465
    info@riverstoneresources.com
    www.riverstoneresources.com