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

Riverstone Resources Inc.

August 24, 2012 15:46 ET

Riverstone Resources Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2012) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") announces that, subject to approval of the TSX Venture Exchange ("Exchange"), it will issue 300,000 common shares to Dwayne Melrose, President and Chief Executive Officer of the Company and 125,000 common shares to Peter Carter, Vice President Engineering of the Company in lieu of the cash bonuses that became payable pursuant to the terms of their respective employment agreements upon completion of the preliminary economic assessment on the Company's Karma Project in Burkina Faso. Issuance of the shares will preserve cash and further align the interests of these key officers with the Company's shareholders.

The shares will be subject to a hold period under the policies of the Exchange and applicable securities legislation for a period of four months following issuance.

Riverstone is active in Burkina Faso, West Africa, where it holds a portfolio of four high quality exploration projects covering in excess of 2,000 square kilometres. Additional information about the Company and its activities may be found 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, Chairman

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
    604-801-5020

    Riverstone Resources Inc.
    Don Mosher
    Corporate Development
    604-685-6465

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

    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    604-986-0112
    info@riverstoneresources.com
    www.riverstoneresources.com