Richview Resources Inc.

Published : May 09th, 2007

Re-affirms its Continuous Program Aiming to Reactivate the Thierry Mine

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May 9, 2007
Richview Resources - Press Release


Richview Re-affirms its Continuous Program Aiming to Reactivate the Thierry Mine


Toronto, Canada, (May 9, 2007) - Richview Resources Inc. ("Richview"), (TSX: RVR) announces that it is commencing its summer validation and exploration program on its Thierry Mine property near Pickle Lake, Ontario. Richview has developed a complimentary approach to the two aspects of the Thierry Mine Project which management feels will maximize shareholder value.

The Company has determined that the summer and near future projects will consist of two separate areas of focus, the historically productive open-pit and underground Thierry Mine, and the K 1-1 open-pit project. Richview intends to develop and re-open the wholly owned Thierry Mine and initiating the K-1-1 Zone pending validation and verification of its historical and current resource data, as well as a current ongoing Economic Analysis. The company is actively examining an appropriate strategy to do so, both technically and monetarily.

The Company has engaged a deep drilling program to confirm and validate dip strike continuity of the known mineralization to the 3000 foot level. The anticipated extensions to the mineralized zone may potentially augment the known tonnage to be added to the current estimates in the measured, indicated and inferred categories.

An independent resource evaluation was completed by P & E Mining Consultants Inc. ("P & E"; Brampton, Ontario) for the Thierry underground Cu-Ni and released in a September 14, 2006 press release. This resource estimate is compliant with current NI 43-101 standards. This estimate includes values for the Platinum Group metals, Gold and Silver that are present in the mineralization. Recent drill programs (2003-2004-2005), historic surface and underground Diamond drill data and previous production information were incorporated into the resource estimate.

The resource was reported within constraining domains at a 0.5% Cu value for outline delineation purposes. A cut-off grade was based on an NSR value of C$45.53/tonne.

Resource Estimate:


To access a table outlining the resource estimate please click on the following link:
http://www.agoracom.com/images/RVRTABLEPR050907.pdf



The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

Based on the continuity and grade of the Cu-Ni mineralized material evident in the resource, P & E believes excellent potential exists to upgrade significant portions of the inferred mineralization to the indicated category. In addition, deep drilling has intersected zones of mineralization below the areas containing the delineated resources such that there is potential to enlarge the resource base through additional drilling below the delineated zones.

Based on the results of this study the company has immediate plans for the property which include up to a $2.75 million surface Diamond drilling program with the objective of further defining the Thierry underground inferred mineralization primarily at depths below the 1600 foot level where limited drilling has identified the down-dip extension of the zone. Richview will also conduct a surface Diamond drilling program around the K 1-1 open pit area in order to confirm and validate historic drilling by UMEX and to further define the open pit potential of the near surface mineralization along its identified 2500 foot strike length. The objective of this program will be to develop a current NI 43-101 compliant resource estimate for this area of the property.

Richview has retained P & E Mining Consultants to carry out the Preliminary Economic Analysis on the Thierry Mine to study the economic viability of placing the Thierry Project back in to production. Richview is also in the process of engaging various Labs, in Canada and the U.S. in an effort to maximize the identification and extraction of Ni and other PGM elements, using newly available procedures and techniques such as Platsol. The inclusion of Ni and PGE's in future economic evaluations may have a positive effect on the economics and mineability of the deposit.

Pending the receipt of a positive result of this study the Company would at that time proceed with the dewatering and underground rehabilitation of the Thierry Mine. This work would allow the Company to carry out underground definition drilling and bulk metallurgical tests as part of the feasibility study process and for project development

The press release has been reviewed by Brian Newton, Qualified Person (P.Geo) of Billiken Management Services Inc., who is independent of the company.

The Board of Directors and management of Richview are committed to ensuring that Richview, as a responsible issuer and market participant, adheres to all the rules and regulations of the Ontario Securities Commission and the TSX.

About Richview Resources Inc.

Richview is the sole owner of the past-producing Thierry Mine property in northwestern Ontario. The company is continuing exploration on gold joint venture projects at Pickle Lake (RVR 75%) and Headway in the Red Lake camp (RVR 15%). Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.

Investors are asked to email all questions and correspondence to info@richviewresources.com, where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.


CONTACT INFORMATION

Corporate Inquiries
Sol Prizant
President &CEO Richview Resources
416 703-5435
Email: info@richviewresources.com

Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Richview
RVR@agoracom.com

   
   
FEATURED LINKS

Richview Resources Web Site

Richview Resources IR HUB


   


Contact Us
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Richview Resources Inc.

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CODE : RVR.TO
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Richview Resources Inc. is a gold and copper exploration company based in Canada.

Richview Resources Inc. holds various exploration projects in Canada.

Its main exploration properties are THIERRY and PICKLE LAKE in Canada.

Richview Resources Inc. is listed in Canada. Its market capitalisation is CA$ 4.3 millions as of today (US$ 4.3 millions, € 3.0 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.24, and its lowest recent point on October 02, 2009 at CA$ 0.02.

Richview Resources Inc. has 143 046 000 shares outstanding.

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Annual reports of Richview Resources Inc.
Annual Report 2007
Financings of Richview Resources Inc.
1/3/2008Completes $870,000 Private Placement
Financials of Richview Resources Inc.
11/19/2008Files Third Quarter Statements
Project news of Richview Resources Inc.
2/29/2008(Thierry)Deep Drilling Proves Up Continuity
5/9/2007(Pickle Lake Claims)Re-affirms its Continuous Program Aiming to Reactivate the T...
Corporate news of Richview Resources Inc.
4/15/2008SIGN MEMORANDUM OF UNDERSTANDING
3/25/2008Signs Loan Agreement for Up to Euro 20..0 Million
3/12/2008Confirms $0.50 Target Price
10/12/2007President Sol Prizant Update Shareholders on the Latest Info...
10/4/2007Analytical Results From Drill Program
10/1/2007Drill Contract Doubled by Richview Resources
9/13/2007Commission a second drill to arrive at Thierry
8/15/2007COMMENCES DRILLING PROGRAM
5/16/2007Financial Statements and Management Discussion
5/9/2007Results From Its Annual and Special Meeting of Shareholders
3/3/2007resignation of Michael Newbury as the company's President
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