Riverstone Resources Inc. ("Riverstone" or the "Company ") is pleased to announce that it has now closed its recently announced private placement. 4,165,311 units ("Units") of the Company were issued on a non-brokered private placement basis at a price of C$0.38 per Unit for aggregate gross proceeds of C$1,582,818.52.  Each Unit consists of one common share of the Company and one half of one non-transferable share purchase warrant, each whole share purchase warrant is exercisable to purchase one additional common share of the Company at a price of C$0.60 per share for a period of 18 months until December 12, 2009, subject to acceleration in the event that the Company's common shares trade on the TSX Venture Exchange at or above a weighted average trading price of C$1.20 for a period of 20 consecutive trading days at any time after expiry of the hold period.  In such case the warrants will expire on the 30th day after the date on which notice is given by the Company to the warrant holders pursuant to the terms of the warrants.  The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded in British Columbia until October 13, 2008 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.

Finders' fees were paid pursuant to the policies of the TSX Venture Exchange in the amount of C$33,329.80 in cash and 87,701 compensation options ("Compensation Options"), each Compensation Option is exercisable to acquire a Unit at C$0.38 per Unit, each Unit having the same terms and conditions as the Units issued to the subscribers of the financing.