Riverstone Resources Inc.

Riverstone Resources Inc.

July 18, 2011 09:20 ET

Riverstone Intersects 58 Metres Grading 1.13 g/t Gold at Karma

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) is pleased to report additional results from the on-going diamond drill program on the Kao Zone, which forms part of the Company's Karma Gold deposit in Burkina Faso, West Africa (see Map on Website: www.riverstoneresources.com/i/maps/110714-091112_KaoMain_Plan.jpg). Significant results include 58 metres grading 1.13 g/t gold, including 16 metres grading 2.14 g/t gold, and 22 metres grading 1.14 g/t gold, including 6 metres grading 2.46 g/t gold. The diamond drilling program on Kao is designed to test mineralized zones down dip and to the east from the existing resource. These results confirm the continuation of the mineralized zones up to 150 metres to the east beyond the existing resource, and show that they are still open for extension. Drilling is continuing.

"These results continue to be very encouraging," commented M.D. McInnis, President and CEO of Riverstone. "We are confirming the presence of good grade mineralization below and down dip from the existing resource. We expect that a substantial increase in the resource can be achieved by drilling both along strike to the northeast, where the deposit remains open within shallow oxide material, as well as drilling deeper and down dip."

Hole number Interval (m) Intercept Average
From To (metres) Grade (g/t Au)
KAO-DD-11-014 142 146 4.0 0.78
and 306 308 2.0 2.09
KAO-DD-11-015 46 48 2.0 1.36
and 72 80 8.0 0.88
and 96 98 2.0 0.81
and 160 172 12.0 0.99
and 196 206 10.0 2.62
KAO-DD-11-016 122 130 8.0 2.32
and 150 172 22.0 1.14
including 156 162 6.0 2.46
and 180 184 4.0 0.80
KAO-DD-11-017 156 164 8.0 0.55
and 214 226 12.0 1.11
including 216 224 8.0 1.43
KAO-DD-11-022 96 154 58.0 1.13
including 96 104 8.0 1.59
and including 130 146 16.0 2.14
and 206 208 2.0 1.18

*Assays are pending for Holes 018 to 021 inclusive. "True thicknesses" are not known with certainty, but are estimated to be in excess of 90% of drilled lengths.

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.


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

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.

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

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations

    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations

    Riverstone Resources Inc.
    Don Mosher
    Corporate Development