Riverstone Resources Inc.

Riverstone Resources Inc.

March 28, 2011 09:30 ET

Riverstone Reports More Positive Results From Karma

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 28, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report additional positive results from the diamond drill program on the Kao deposit, part of the company's Karma Gold project in Burkina Faso, West Africa (See map on website: http://www.riverstoneresources.com/i/maps/KaoMainZone-Map.jpg). Significant results include 50 metres grading 1.36 g/t gold, including 10 metres grading 3.21 g/t gold, and 12 metres grading 3.13.g/t, including 6 metres grading 5.35 g/t gold. These results follow the first five holes in the program which were announced on February 9th, 2011 which included 38 metres grading 3.32 g/t gold in Hole DD-10-004 and 16 metres grading 5.08 g/t gold in Hole DD-10-005. These latest results support the new geological interpretation that new mineralized zones exist below and down dip from the existing resource and are open for expansion.

"These results continue to be very encouraging," commented M.D. McInnis, President and CEO of Riverstone. "The Kao deposit comprises several stacked, shallowly dipping zones and we are confirming the presence of good-grade mineralization below and down dip from the mineralized zones included in the resource model. We expect that a substantial increase in the resource can be achieved by drilling deeper and down dip."

Hole number Interval (m) Intercept Average Grade
  From To (metres) (g/t Au)
KAO-DD-11-006 44 56 12 0.77
and 96 108 12 1.04
KAO-DD-11-007 4 44 40 0.76
incl 30 40 10 1.33
and 56 68 12 0.97
KAO-DD-11-008 136 186 50 1.36
incl 140 146 6 2.38
and incl 174 184 10 3.21
KAO-DD-11-009 80 126 46 1.09
incl 82 100 18 1.72
KAO-DD-11-010 142 162 20 0.88
incl 156 162 6 1.36
KAO-DD-11-011 0 12 12 0.68
KAO-DD-11-012 76 88 12 3.13
incl 78 84 6 5.35
KAO-DD-11-013 196 210 14 0.65
incl 196 200 4 1.53
Note: The "true thicknesses" are in excess of 95% of core length except for holes 007 and 012 which are about 75% of core length.

The Kao deposit consists of a series of stacked mineralized lenses, which dip shallowly to the east and are open to the north and down dip to the east. All of the holes in the Kao diamond drill program were designed to confirm intersections in previously drilled RC holes, to provide material for metallurgical test work, or to test for deeper extensions of easterly dipping zones.

Hole KAO-DD-11-008 is noteworthy in that it is a 50 metre downdip step-out below KRC-10-206, which had intersections of 6 metres of 1.72 g/t and 26 metres of 1.32 g/t in the same zone.

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 the indicated category and 1,119,100 ounces of gold in the inferred category. (See news release dated February 28, 2011)

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"
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