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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2011) -




NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES



Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) ("Riverstone" or the "Company") announces that it will not be proceeding with the proposed public offering of common shares in the capital of the Company, the terms of which were outlined in its news release of May 9, 2011.


Riverstone will continue to advance exploration on its Karma Project in Burkina Faso with available funds.


Riverstone is active in gold exploration in Burkina Faso, West Africa, where the Company holds an extensive portfolio of six high quality exploration projects covering 2,300 square kilometres. The Company's Karma Project hosts a NI 43-101 compliant gold resource of 22,845,000 tonnes containing 810,600 ounces of gold at a grade of 1.10 g/t in the indicated category, and 44,110,000 tonnes containing 1,119,100 ounces of gold at a grade of 0.79 g/t in the inferred category. The Company's technical report on the Karma Project, entitled "Technical Report on the Karma Project, Burkina Faso, West Africa" prepared by G.R. Peatfield, Ph.D., P.Eng. and John A. Zbeetnoff, P.Geo. dated April 14, 2011, is available under the Company's profile on SEDAR .


For further information about the Company and its activities, please refer to the Company's profile at sedar.


ON BEHALF OF THE BOARD


Michael D. McInnis, P.Eng., President & CEO



This news release includes certain forward-looking statements or forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this news release, including without limitation statements regarding the expected timing and completion of financings, the intended use of proceeds and other future plans and objectives of the Company are forward-looking statements that involve various certain risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals, risks inherent in the mineral exploration and production industry, and other risks detailed herein and in the preliminary prospectus and from time to time in the filings made by the Company with applicable securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.





FOR FURTHER INFORMATION PLEASE CONTACT: Riverstone Resources Inc.
Vancouver Office:
Michael D. McInnis
President
604-801-5020
ORRaju Wani
Riverstone Resources Inc.
Investor Relations
403-240-0555
ORRon Cooper
Riverstone Resources Inc.
Investor Relations
604-986-0112
info@riverstoneresources.com
http://www.riverstoneresources.com/">www.riverstoneresources.com