NEWS: Kinross to buy 7% stake in RRI!!May 27, 2008 - Vancouver, British Columbia: Riverside Resources Inc. (TSX-V: RRI)is pleased to announce that it has closed a private placement financingwith Kinross Gold Corporation ("Kinross"), the third largest goldmining company by reserves in North America. Subject to TSX VentureExchange acceptance, Kinross has purchased 1.25 million common sharesof Riverside at a price of $1.20 per share for proceeds of $1.5million. The investment by Kinross represents approximately 8% of theoutstanding common shares of the Company. The shares are subject to afour month hold period. No warrants or finders fees are attached tothis private placement.
"This is positive recognition for the value of Riverside's businessstrategy, management team and our growing portfolio of quality mineralproperties," said John-Mark Staude, President and Chief ExecutiveOfficer, Riverside Resources. "We look forward to continuing our localbased exploration, particularly in Mexico, to find undervaluedprojects, generate our own grass roots opportunities, and apply thiscapital in a rational, measured way to make valuable mineraldiscoveries. We will continue to build a strong exploration businessusing selective capital such as this significant investment fromKinross."
The proceeds from the private placement will be used to further advanceRiverside's portfolio of seven properties including the El Capitan Goldproject in Durango, Mexico, and the Sugarloaf Peak Gold project inArizona, USA and for general working capital requirements.
Riverside Resources operates a prospect generator business modelleveraging an experienced management team, a proprietary geologicaldatabase and local knowledge to identify and acquire high-qualityexploration opportunities. In its first year, Riverside has acquiredsix properties: five located in Mexico and the Sugarloaf Peak Goldproject located in Arizona, USA. For more information please visit:www.rivres.com.
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This news release does not constitute an offer to sell or asolicitation of an offer to sell any of the above securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended (the "U.S.Securities Act") or any state securities laws and may not be offered orsold within the United States or to U.S. Persons unless registeredunder the U.S. Securities Act and applicable state securities laws oran exemption from such registration is available.
Not For Dissemination in the United States
For additional information contact:
Warwick Smith,
Corporate Communications
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web:
www.rivres.com