Riverstone Resources Inc. (TSX
VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the
"Company") is pleased to announce that it has today filed via SEDAR
a NI 43-101 compliant independent Technical Report titled,
"Technical Report and Updated Resource Estimate on the Karma
Project, Burkina Faso, West Africa", dated effective October 1,
2012 co-authored by Dr. Wayne Ewert, P.Geo., Mr. Eugene Puritch,
P.Eng., Ms. Tracy Armstrong, P.Geo., Mr. Yungang Wu, P.Eng., Mr.
Antoine Yassa, P.Geo., Mr. Ken Kuchling, P.Eng., of P&E Mining
Consultants Inc., Mr. Wayne Corso, P.E., Mr. Ali Sheykholeslami,
P.Eng., and Mr. Robert L. Matter, P.E., of JDS Energy & Mining
Inc., Mr. Hoe Teh P.Eng., of Hoe Teh Consulting Inc., and Mr.
Martin Stapinsky, P.Geo., Roche Ltd., Consulting Group (the
"Technical Report"), to support the independent updated Mineral
Resource estimate announced October 3, 2012 on the Company's
flagship Karma Gold Project (the "Karma Project") in Burkina Faso,
West Africa. The Technical Report is authored by independent
Qualified Persons and is available under the Company's profile at
www.sedar.com.
About Riverstone
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 km. Riverstone's flagship project is
the Karma Project, which comprises a NI 43-101 compliant in-pit
Whittle total indicated resources of approximately 1.9 million
ounces of gold in 56.5 million tonnes with an average grade of 1.07
g/t gold and total inferred resources of approximately 492 thousand
ounces of gold in 15.4 million tonnes with an average grade of 1.0
g/t gold (see Riverstone's news release dated October 3, 2012 and
the Technical Report filed on SEDAR (www.sedar.com)). The results
of an independent Preliminary Economic Assessment ("PEA"), which
has recently been released (see Riverstone news release dated
August 20, 2012 and NI 43-101 Technical Report titled, "Preliminary
Economic Assessment Report for the Karma Project, Burkina Faso,
West Africa", with an effective date of August 2, 2012, filed on
SEDAR (www.sedar.com) September 17, 2012), highlights the Karma
Project to have robust economics. The PEA is based on Riverstone's
previous January 9, 2012 resource estimate and while relevant and
valid in regards of the January 9, 2012 estimate cannot necessarily
be extrapolated to the updated resource estimate. The results of
the updated resource estimate announced on October 3, 2012, for
which the Technical Report was filed on SEDAR November 7, 2012, are
expected to further enhance project value as the Karma Project is
advanced.
The PEA is considered preliminary in nature and includes
Inferred Mineral Resources that are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as Mineral Reserves and
there is no certainty that the production profile concluded in the
PEA will be realized. Mineral Resources that are not Mineral
Reserves have not yet demonstrated economic viability.
Paul G. Anderson, M.Sc., P. Geo., the Company's Vice-President,
Exploration, is the Company's Qualified Person for the purposes of
National Instrument 43-101 and has reviewed and approved the
technical contents of this release.
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.
Dwayne L. Melrose, President & CEO
Certain statements made and information contained in this news
release and elsewhere constitutes "forward-looking information"
within the meaning of Canadian securities legislation. Such
forward-looking statements are based on certain assumptions and are
subject to risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking
statements, including, without limitation, with respect to
statements regarding the PEA and updated resource estimate, the
assumptions set forth in this news release and in the Company's
news release of January 9, 2012, August 20, 2012 and October 3,
2012 and risks and uncertainties relating to the interpretation of
drill results and the estimation of mineral resources, the geology,
grade and continuity of mineral deposits, the possibility that
future exploration, development results will not be consistent with
the Company's expectations, accidents, equipment breakdowns, risk
of undiscovered, title defects and surface access, labour disputes,
the potential for delays in exploration and permitting activities,
the potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, political risk and other risks
and uncertainties, including those described under Risk Factors in
each management discussion and analysis and in the Company's annual
information form which are available under the Company's profile at
www.sedar.com. Forward-looking information is based on various
assumptions including, without limitation, the expectations and
beliefs of management, the assumed long term price of gold, that
the Company will receive required permits and access to surface
rights, that the Company can access financing, appropriate
equipment and sufficient labour and that the political environment
within Burkina Faso will continue to support the development of
environmentally safe mining projects. Should one or more of these
risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements.
This news release may use the terms "measured", "indicated" and
"inferred" as these terms are defined under Canada's National
Instrument 43.101. U.S. Investors are advised that, while such
terms are recognized and required by Canadian regulations, they are
not recognized by the United States Securities and Exchange
Commission ("SEC") and may not be comparable to similar information
for United States mining or exploration companies. As such, certain
information contained on this news release concerning descriptions
of mineralization and resources under Canadian standards is not
comparable to similar information made public by United States
companies subject to the reporting and disclosure requirements of
the SEC. U.S. investors are cautioned not to assume that any part
or all of the mineral deposits described in these categories will
ever be converted into proven or probable reserves, as defined in
the SEC's Industry Guide No. 7.
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.
Contacts: Riverstone Resources Inc. - Vancouver Office Dwayne L.
Melrose President & CEO
604-801-5020info@riverstoneresources.com 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
www.riverstoneresources.com