Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

June 09, 2005 19:03 ET

Riverstone Resources Inc.: First Tranche of Brokered Private Placement Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 9, 2005) - Riverstone Resources Inc. (TSX VENTURE:RVS) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES.

Riverstone Resources Inc. (the "Company") announces that it has closed the first tranche of its previously announced brokered private placement. The Company received gross proceeds of $1,007,000.70 through the sale of 3,356,669 units at a price of $0.30 per unit. Each unit is comprised of one common share and one-half of one transferable common share purchase warrant, each whole warrant exercisable into one additional common share at a price of $0.36 per share until June 9, 2006.

Toll Cross Securities Inc. acted as agent in connection with the private placement and received a cash commission equal to 6.5% of the gross proceeds of the private placement and compensation options equal to 8% of the number of units sold. Each compensation option is exercisable into one unit at a price of $0.30 per unit until June 9, 2006. Each such unit is comprised of one common share and one-half of one non-transferable common share purchase warrant, each whole warrant exercisable into one additional common share at a price of $0.36 per share until June 9, 2006.

The securities are subject to a hold period and may not be traded until October 10, 2005, except as permitted by Canadian securities legislation and the TSX Venture Exchange.

The net proceeds of the private placement will be used for further exploration of the Company's gold properties in Burkina Faso and for general corporate purposes.

The independent directors of the Company approved the participation by one director of the Company in the private placement on the same terms as arm's length investors in the amount of 27,000 units. Shareholdings of insiders in the Company have increased as a result of such participation.

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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