Ria Resources Corp. Announces Sale of 5% Working Interest and Farmout Agreement in Bonnie Glen Unit

    




 CALGARY, Feb. 22, 2012 /CNW/ - Ria Resources Corp. ("RIA" or the  "Corporation") announces that it has completed the sale of an undivided  five percent (5.0%) working interest in RIA's Bonnie Glen Cardium "A"  Unit # 1 and the related joint lands and joint wells (the "Bonnie  Glen Assets") to an arms-length third party purchaser (the "Purchaser")  for an aggregate of $250,000.  RIA has granted the Purchaser an option  (the "Option") to purchase in aggregate, up to an additional undivided  twenty percent (20%) working interest in the Bonnie Glen Assets.  The  exercise of the Option is subject to applicable regulatory approval and  is exercisable by the Purchaser in five percent (5%) increments at  $250,000 per 5% increment until April 1, 2012 (which may be extended to  June 1, 2012).   In addition, RIA has entered into a farm out agreement  with the Purchaser under which the Purchaser may earn an additional  undivided 5% working interest in the Bonnie Glen Assets by providing  certain work over and service work for an aggregate value of services  of $250,000 on the Bonnie Glen Assets. 

 RIA is a company listed and trading on the TSX Venture Exchange, symbol:  RIA. 

  

 Neither the 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. 

Ria Resources Corp.


CONTACT:  Glenn HamiltonChief Financial OfficerRIA Resources Corp.Telephone No. [phone] 


    

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