Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

July 15, 2005 18:10 ET

Riverstone Resources Inc.: Non-Brokered Private Placement Completed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 15, 2005) - NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES

Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) announces that it has closed its previously announced non-brokered private placement. The Company received gross proceeds of $150,000 through the sale of 500,000 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 July 12, 2006.

The securities are subject to a hold period and may not be traded until November 13, 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 two directors and an officer of the Company in the private placement on the same terms as arm's length investors in the amount of 60,000 units. Shareholdings of insiders in the Company have increased as a result of such participation.

On behalf of the Board,

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

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

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