Riverside Resources Outlines Corporate Growth Plans for 2012
January 9, 2012 – Vancouver, BC: Riverside Resources Inc. ("Riverside" or the "Company") (TSX-V: RRI) is set to deliver strong growth catalysts and bring value for its shareholders in 2012. Drilling Riverside owned prospects and pushing for discovery will continue to be a main focus for the Company. Riverside anticipates results from five different partner-funded drill programs over the course of the year, and the Company is constantly evaluating new potential deals and partnerships to further increase the junior and alliance partner spending already expected on the portfolio in 2012. The upcoming year will build upon 2011 where Riverside successfully delivered on its goals to:
- Complete multiple JV deals (Sugarloaf Peak, Penoles, Chapalota, Durango Properties)
- Complete IPO with Cerro Azul Project (Guerrero Exploration Inc.)
- Property acquisition with Cliffs (Jalisco Properties)
- Bundled asset deal on Durango gold-silver portfolio (Mexigold Corp.)
- Sonora Gold Belt exploration (New grassroots prospects acquired)
- Diversify portfolio by expanding into new jurisdiction (British Columbia, Canada)
- Deliver new strategic alliance ($1.8M three year alliance with Antofagasta)
Market conditions created a challenging environment for junior explorers in 2011, but Riverside still managed to deliver as promised. In addition to the accomplishments listed above (News release January 13, 2011), Riverside also delivered four completed partner-funded drill programs. In 2012, the Company has its sights set on delivering another five partner funded drill programs; including steps taken toward resource definition at Penoles and Sugarloaf Peak. Should difficult market conditions persist the Company is well positioned with $10M in cash, partners drilling on Riverside properties, and major alliance partners continuing to fund further generative work and potential drilling. Riverside’s business approach is built for market volatility; and should any partner be unable to meet requirements, Riverside would retain 100% ownership of project(s) already advanced through partner funding.
An overview of Riverside’s anticipated corporate growth plans for 2012 are summarized below:
- Completion of several partner-funded drill programs in Mexico
- New 100% owned project acquisitions
- Drilling on 100% owned Riverside project in 2012
- New project generation in British Columbia with Antofagasta
- Drilling and exploration development with Cliffs Natural Resources on Jalisco Properties
- Complete a new JV partnership deal
In addition, Riverside will take steps toward unlocking shareholder value by reviewing the potential of allocating some of its assets to a new vehicle with Riverside controlling a majority interest. Please visit www.rivres.com to view the most recent corporate brochure, presentation and project details.
The scientific and technical data contained in this news release were prepared under the supervision of Howard Davies, M.Sc., VP Exploration, qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
For additional information contact:
Manager, Corporate Development
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect”,” estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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