Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

June 21, 2005 18:55 ET

Riverstone Resources Inc.: C$150,000 Private Placement Proposed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 21, 2005) - Riverstone Resources Inc. (TSX VENTURE:RVS) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES

Riverstone Resources Inc. ("Riverstone" or the "Company") announces that it has agreed to sell on a non-brokered private placement basis up to 500,000 units ("Units") of the Company at a price of C$0.30 per Unit for gross proceeds of up to C$150,000. Each Unit consists of one common share of the Company and one half of one share purchase warrant. Each full share purchase warrant will be exercisable to purchase one additional common share of the Company for a period of 12 months at a price of C$0.36 per share. Directors and officers of the Company may participate in the private placement and shareholdings of insiders in the Company may increase as a result of such participation. The private placement may close before twenty-one days following the filing of the material change report respecting this announcement, if management determines it is necessary or desirable for sound business reasons. The private placement is subject to regulatory approval.

The net proceeds of the private placement will be used to provide funds for further exploration of Riverstone's gold projects in Burkina Faso and to improve the working capital position of the Company. The Company has recently completed a financing of C$1,007,000.70 under a private placement announced on May 10, 2005. Further financing under the May 10, 2005 private placement will not proceed.

Riverstone is listed on the TSX Venture Exchange with the symbol RVS and is exploring for gold in Burkina Faso. The Company is commencing work on its Yaramoko and Ligidi gold permits. Results of recent work at Ligidi and also at the Company's Solna permits were announced in a news release on April 26, 2005. Further information is available on 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, President


The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

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