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Riverstone Engages Senet to Conduct Karma Gold Project Feasibility Study
Published : November 19, 2012
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2012) - Riverstone Resources Inc. (News - Market indicators) (OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to announce that Senet (Pty) Ltd. ("SENET") of Johannesburg, South Africa has been engaged to conduct the independent definitive Feasibility Study for the Company's flagship Karma Gold Project (the "Karma Project") in Burkina Faso, West Africa. The Feasibility Study will entail development of a comprehensive operating plan and cost estimate for a 3 to 4 million tonne per annum ("Mtpa") open pit, heap leach gold mine similar to that described in the independent Preliminary Economic Assessment ("PEA") (see Riverstone news release dated August 20, 2012 and in dependent NI 43-101 compliant 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") September 17, 2012) on the Karma Project. The Feasibility Study will be based on a total indicated, in-pit, resource of free-leaching material containing 1.03 million ounces of gold (see Riverstone 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 November 7, 2012) and will focus on mining and processing of the free-leaching portions of the deposit only. The Feasibility Study is scheduled to commence November 2012 and is expected to be completed in mid-2013.

SENET has a wealth of experience engineering and building mining projects in Africa. They have demonstrated expertise in heap leach and were engaged in the construction of the Kalsaka Mine, a 1.6 Mtpa heap leach operation located in Burkina Faso, 50 km south of the Karma Project site. SENET proposes to subcontract the mining and heap leach pad and hydrology design portions of the Feasibility Study to SRK Consulting and Knight-Piesold (Pty) Ltd., respectively, also of South Africa. 

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 as reported in the PEA, 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. The results of the PEA, which highlights the Karma Project to have robust economics, 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 announced on October 3, 2012. 

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 and under the Company's profile at


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, updated resource estimate and Feasibility Study, 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, completion date of the Feasibility Study, SENET engagement of subcontractors 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 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.

Vancouver Office: Riverstone Resources Inc.
Dwayne L. Melrose
Riverstone Resources Inc.
Don Mosher
Corporate Development
Riverstone Resources Inc.
Raju Wani
Investor Relations
Riverstone Resources Inc.
Ron Cooper
Investor Relations
Companies Mentionned : Mineral Deposits | Mineral Resources | Reliance | Robust | Total |
Data and Statistics for these countries : Burkina Faso | Canada | South Africa | All
Gold and Silver Prices for these countries : Burkina Faso | Canada | South Africa | All

True Gold Mining

ISIN : CA89783T1021
CUSIP : 768906
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True Gold. is a gold development stage company based in Canada.

True Gold. holds various exploration projects in Burkina Faso.

Its main asset in development is KARMA in Burkina Faso and its main exploration properties are LIGIDI, BISSA, SOLNA, YARAMOKO and GOULAGOU / RAMBO / KAO in Burkina Faso.

True Gold. is listed in Canada and in United States of America. Its market capitalisation is CA$ 71.8 millions as of today (US$ 55.5 millions, € 49.2 millions).

Its stock quote reached its highest recent level on October 19, 2012 at CA$ 0.72, and its lowest recent point on October 31, 2014 at CA$ 0.14.

True Gold. has 398 840 000 shares outstanding.

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In the News and Medias of True Gold Mining
7/13/2015Construction on True Gold’s Karma project progressing rapidl...
5/19/2015True Gold restarts Burkina Faso project construction
1/30/2015Fluid Burkina Faso situation undermines progress at True Gol...
1/21/2015True Gold taking steps to refocus efforts in Burkina Faso fo...
1/15/2015True Gold’s Karma project suffers damage during demonstratio...
12/24/2014True Gold draws down $20.7m of $100m facility
11/18/2014True Gold mine-build in Burkina still on track
10/22/2014PEA outlines significant extra cash flow for True gold’s Kar...
9/19/2014True Gold receives two more Burkina Faso permits
8/13/2014Gold streamers partner to give True Gold $120m Karma financi...
6/9/2014True Gold: 6m @ 29.5 g/t Au in deposit extension
5/27/2014True Gold looks toward good fortune as it turns sod at Karma...
1/9/2012Riverstone Resources shareprice falls on resource update
Financings of True Gold Mining
5/17/2011Withdraws Public Offering of Common Shares
5/9/2011. Announces Equity Financing
6/2/2009Announces Non-Brokered Private Placement
10/1/2008Announces Proposed C$1.98 million Private Placement with IFC
6/23/2008Closes 1.75 Million Unit Private Placement at $0.60
6/13/2008Announces Closing of Private Placement
5/26/2008reases Private Placement to Raise C$1.9 Million
Option Grants of True Gold Mining
2/11/2011Grant of 300,000 options to PR Firm
10/8/2010Grant of 200.000 options to a director
9/9/2009Grant of 2.460.000 stock options
1/28/2009GRANT OF 730.000 STOCK OPTIONS TO directors, officers, emplo...
2/6/2008GRANT OF 1.010.000 STOCK OPTIONS TO directors, officers, emp...
7/9/2007GRANT OF 1.255.000 STOCK OPTIONS TO directors, officers, emp...
2/27/2006GRANT OF 250.000 STOCK OPTIONS TO Mr. Ron Cooper for PR Ser...
1/26/2006GRANT OF 500.000 STOCK OPTIONS TO directors
5/5/2004GRANT OF 805.000 STOCK OPTIONS TO directors, officers, emplo...
1/12/2004GRANT OF 440.000 STOCK OPTIONS TO directors, officers, emplo...
8/19/2003GRANT OF 610.000 STOCK OPTIONS TO directors, officers, emplo...
Nominations of True Gold Mining
3/26/2015Appoints Christian Milau as Chief Executive Officer
2/11/2011Announces Investor Relations Advisor, Stock Options
6/9/2006announces hiring of exploration manager
Financials of True Gold Mining
6/2/2015Reports Q1 2015 Financial & Operating Results
4/28/2015Reports Q4 2014 Financial Results
Project news of True Gold Mining
7/13/2015True Gold provides construction update for Karma mine
11/19/2012(Karma)Engages Senet to Conduct Karma Gold Project Feasibility Stud...
6/9/2011(Karma)Intersects New Gold Zone at Karma
6/1/2011(Karma)Reports 38 Metres Grading 5.6 g/t Gold From Karma
5/26/2011(Yaramoko)Starts Major Drill Program at Yaramoko and Reports Additiona...
5/26/2011(Bissa)Starts Major Drill Program at Yaramoko and Reports Additiona...
4/26/2011(Karma)Reports More Positive Gold Results from Karma
4/8/2011(Yaramoko)Reports 28.61 g/t Au Over 20 Metres on Yaramoko Gold Project...
3/24/2011(Karma)Intersects High Grade Gold at Karma
2/28/2011(Karma)Increases Gold Resources at Karma by 70 Percent
1/19/2011(Nami (karma))Intersects 14 Metres Grading 1.92 g/t Gold at Nami
1/10/2011(Nami (karma))Intersects 20 Metres Grading 3.27 g/t Gold at Nami
12/15/2010(Karma)Extends Depth of Kao Deposit at Karma
12/7/2010(Karma)Expands Footprint of Kao Deposit at Karma
7/13/2010(Bissa)Grants Options on Three Gold Properties
1/18/2010(Karma)Defines High Grade Gold Mineralized Trend
1/6/2010(Karma)Drilling Defines Gold Mineralized Trend
11/4/2009(Karma)New Gold Zone
9/24/2009(Karma)Commences Drilling on Karma Gold Project
8/26/2009(Karma)Drilling Plans on Karma Gold Project
7/6/2009(Karma)Independent Technical Report on the Karma Gold Project
5/11/2009(Karma)Announces NI 43-101 Resource Estimate of 1.14 Million Ounces...
9/18/2008(Karma)Extends Gold Mineralization at Karma
8/12/2008(Karma)Continues to Expand Gold Mineralization at Karma
7/10/2008(Karma)Initiates Resource Estimate for Karma Project
5/7/2008(Goulagou / Rambo / Kao)Extends Goulagou Mineralization to Depth at Karma
3/10/2008Intersects 16.7 g/t Gold (0.49 oz/ton) over 12 Metres at Kar...
4/16/2007Intersects 10 metres of 3.55g/t Gold on Kao
4/5/2007(Rambo - Kao)Confirms And Extends Multiple Gold Zones On Kao
6/6/2006(Ligidi)plans 15,000m of RAB drilling on Burkina properties
Corporate news of True Gold Mining
9/25/2015Karma Mine Update
9/17/2015Karme Mine Update
9/17/2015True Gold: Karma Mine Update
9/9/2015True Gold Mining, Inc. Earnings Q2, 2015
8/24/2015True Gold Mining reports Q2 2015 financial & operating resul...
8/11/2015Endeavour Mining Corp. Earnings Q2*, 2015
7/9/2015Maryse Belanger joins True Gold Board of Directors
6/22/2015True Gold introduces David Laing as Chief Operating Officer
6/19/2015True Gold grants incentive stock options
6/17/2015True Gold provides progress update on Karma
6/16/2015True Gold Mining reports voting results from Annual Meeting
6/15/2015True Gold Mining Reports Voting Results From Annual Meeting
6/2/2015True Gold Mining reports Q1 2015 financial & operating resul...
5/29/2015True Gold strengthens Karma development and operations team
5/19/2015True Gold resumes construction at Karma
4/28/2015True Gold Mining reports Q4 2014 financial results
3/26/2015True Gold appoints Christian Milau as Chief Executive Office...
3/2/2015Ture Gold provides update on Karma Project
3/2/2015True Gold Provides Update on Karma Project
1/29/2015(Karma)Provides Progress Update on Karma
1/29/2015True Gold Provides Progress Update on Karma
1/20/2015True Gold Provides Corporate and Operational Update
1/20/2015Provides Corporate and Operational Update
1/14/2015IIROC Trading Resumption - TGM
1/14/2015(Karma)Temporarily Suspends Operations at Karma
1/14/2015True Gold Temporarily Suspends Operations at Karma
1/14/2015IIROC Trading Halt - TGM
12/24/2014True Gold draws down additional US$20.7M of project financin...
12/9/2014True Gold reports temporary work slowdown
12/6/2014True Gold Files PEA for North Kao and Updated Feasibility St...
11/24/2014True Gold Mining reports Q3 2014 financial results
11/17/2014Karma Gold Mine construction on time, on budget
11/17/2014True Gold Mining Inc.: Karma Gold Mine Construction on Time,...
10/31/2014True Gold Mining provides update on events in Burkina Faso
10/31/2014Burkina president rejects opposition calls to step down afte...
10/30/2014True Gold Mining Provides Update on Events in Burkina Faso
10/30/2014Protesters demand Burkina Faso president quit, burn parliame...
10/21/2014True Gold's North Kao Deposit to generate over US$118 millio...
9/25/2014Sandstorm Gold Remits First Upfront Payment to True Gold
9/25/2014True Gold Commences Draw Down of Project Financing
9/18/2014True Gold Receives All Permits for the Karma Gold Project
9/8/2014True Gold Secures Long-Term Cement Contract at a Price Signi...
2/22/2013.: Directors Approve Name Change
2/13/2013.: Widely Spaced RC Drilling at Liguidi Hits Near-Surface Go...
1/29/2013(Karma).: RAB Program Reveals Widespread Near-Surface Gold Minerali...
12/12/2012Announces Change in Financial Year-End
11/27/2012Starts Drilling on Liguidi Permit
11/7/2012(Karma)Files NI 43-101 Updated Resource Estimate Technical Report o...
10/15/2012.: Corporate Update
10/10/2012(Bissa)Intersects 6.95 g/t Gold Over 6 m at Bissa East Property
9/17/2012Intersects 9.50 g/t Gold Over 12 Metres at Kao Deposit
9/10/2012Intersects 2.39 g/t Gold Over 24 Metres at Kao
7/11/2011Reports Thick Gold Intercepts at Goulagou I
6/20/2011Reports Multiple Mineralized Intervals From Nami
3/23/2010Commences Drilling at Nami Site
12/8/2009HRA Advisories Coverage of Riverstone Resources (RVS: TSX-V)
2/9/2010Sampling Program Underway at Nami Gold Discovery Zone
2/8/2010Raises $1.8 Million
1/28/2010Commences Follow-up Program at Nami Gold Discovery Zone
6/19/2009Raises $2.1 Million
6/16/2008Resumes Drilling at Karma
6/10/2008Receives Notice of Due Diligence and Financing
4/29/2008Grants Financing and Option Rights to Teck Cominco
4/7/2008Expands Kao Main Zone at Karma
3/21/2006(Ligidi)new exploration permits signed in the Bissa area of Burkina ...
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