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February 15, 2008 -- Vancouver, British Columbia: Riverside Resources Inc. (TSX-V: RRI) is pleased to announce that it has closed its previously announced non-brokered private placement. A total of 2,800,000 units of the Company were issued at a price of $0.90 per unit for gross proceeds of $2,520,000. The financing was increased from the $2,295,000 originally announced to accommodate over-subscriptions.
The Lundin family, through their Luxembourg-based holding company Global NR Holding SA, purchased 818,580 units and the Exploration Capital Partners 2005 Limited Partnership, which is controlled by The Rule Family Trust, purchased 1,395,000 units. Other investors purchased the remaining 586,420 units.

Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share for a period of two years at a purchase price of $1.30 per share. If, after the expiry of all resale restrictions, the volume-weighted average share price of Riverside is $1.80 or greater on the TSX Venture Exchange for any consecutive 20 days of trading, Riverside may, at its discretion, provide notice of an earlier expiry date of the warrants, in which case the warrants shall expire 20 business days after giving such notice.

In connection with the private placement, a finder's fee of $148,994 was paid, of which $42,344 was paid in cash with the remaining amount paid through the issuance of 118,500 units at a deemed value of $0.90 per unit.
All of the securities issued in connection with the closing of this private placement, including units issued in payment of finders' fees and shares issuable on the exercise of the warrants, are subject to a hold period in Canada of four months which will expire on June 14, 2008.
"We are pleased that key names in the mineral exploration industry like Lundin and Rule have identified Riverside as a valuable investment for their capital as it validates the hard work to date of Riverside's management team and continues to support our goal of building a solid exploration company" states President and CEO, John-Mark Staude.
The proceeds from the private placement will be used to further advance Riverside's exploration and property acquisition program in Mexico and the Americas as well as fund ongoing working capital requirements.
Riverside operates with a generative exploration business model using experienced local prospectors, explorers and geologists to identify and acquire high quality mineral opportunities. Riverside looks for the best cost effective ways to build share value. To date Riverside has announced four property acquisitions in Mexico which are summarized at www.rivres.com, and continues building a diverse mineral property portfolio.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the above securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available."

For additional information contact:

Robert J. Scott,
Chief Financial Officer
Riverside Resources Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

John-Mark Staude,
President & CEO
Riverside Resources Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.