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Riverstone Announces Change in Financial Year-End

Date : 12/12/2012 @ 5:30PM
Source : Marketwired
Stock : Riverstone Resources Inc. (3RV)
Quote : 0.4  0.0 (0.00%) @ 9:20AM
Riverstone Resources Inc. share price Chart

Riverstone Announces Change in Financial Year-End

Riverstone Resources Inc. (XE:A0MX39)
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Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") announces that effective in 2012 it has changed its financial year-end from October 31 to December 31 in order to align the Company's year-end with that of its various subsidiaries, which operate on a calendar fiscal year-end. On December 11, 2012 the Company filed an interim financial report for its transition year for the period ended October 31, 2012 and will file annual financial statements for the year ended December 31, 2012 on or before April 30, 2013.

In accordance with National Instrument 51-102 Continuous Disclosure Obligations the Company also filed a Notice of Change of Financial Year-End, which can be found 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 Gold Project in Burkina Faso, West Africa (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 independent NI 43-101 compliant Technical Report titled, "Technical Report and Updated Resource Estimate on the Karma Project, Burkina Faso, West Africa", dated effective October 1, 2012, filed on SEDAR (www.sedar.com) November 7, 2012).

Paul 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 Riverstone and its activities may be found on Riverstone's website at www.riverstoneresources.com and under Riverstone's profile at www.sedar.com.

ON BEHALF OF THE BOARD

Ryan E. Torvik, Chief Financial Officer

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 updated resources estimate, the assumptions set forth in this news release and in the Company's news release of 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 Ryan E. Torvik Chief Financial Officer 604-801-5020 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 604-986-0112info@riverstoneresources.com www.riverstoneresources.com



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