Riverstone Receives Liguidi Exploration Permit
Riverstone Resources Inc. (TSX-V; RVS) ("Riverstone" or the "Company") is pleased to report that it has received the formal transfer documentation from the Burkina Faso Minister of Mines evidencing the transfer of the Liguidi Malguem exploration permit (the "Liguidi EP") from Orex Ressources sarl ("Orex") to Riverstone.
As previously disclosed (See Company's news release dated September 18, 2012), Riverstone has concluded an agreement to acquire Orex's retained 14% non-participating interest (the "Interest") in the Property. The Interest was applicable in relation to any future Burkina Faso mining company formed for the purpose of gold production from the Property pursuant to a mining permit.
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. The Company's flagship project is the Karma Gold Project (the "Karma Project"), which comprises a NI 43-101 compliant in-pit Whittle indicated resource of 1.6 million ounces of gold in 47.3 million tonnes grading 1.1 g/t gold and an inferred resource of 0.6 million ounces of gold in 18.9 million tonnes grading 0.93 g/t gold (see Company's news release dated January 9, 2012 and NI 43-101 Technical Report titled, "Technical Report and Resource Estimate on the Karma Project, Burkina Faso, West Africa" filed on SEDAR (www.sedar.com) February 23, 2012). Since the data cut-off for the resource estimation, the Company has completed in excess of an additional 85,000 metres of drilling on the Karma Project, and it is expected that the results of this drilling will add to the overall resource of the Karma Project deposits for which a new resource estimate is expected to be released this quarter. The results of a Preliminary Economic Assessment have recently been released (see Company 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), highlighting the Karma Project to be a robust project.
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
"Dwayne L. Melrose"
Dwayne L. Melrose, President & CEO
September 26, 2012 (Source: Riverstone Resources Inc.)
Disclosure: Riverstone Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #3. Members of the GGR team are actively accumulating shares of RVS.V or RVREF and continue to hold a speculative long position in the company.