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RIVERSIDE
RESOURCES AND PARTNER CHOICE GOLD CORP.
BEGIN $2,000,000 WORK PROGRAM ON
SUGARLOAF PEAK GOLD
PROJECT
March 30, 2011 � Vancouver, BC: Riverside Resources Inc.
("Riverside" or the "Company") (TSX-V: RRI) is pleased to announce that
Riverside and its partner Choice Gold Corp. (CNSX: CHF) (formerly CLI
Resources Inc.) (�Choice Gold�) has commenced its work program on
Riverside�s Sugarloaf Peak Gold Project (�Sugarloaf� or �Project�) in
Quartzsite, Arizona. The anticipated $2,000,000 first year work program
starts with an aeromagnetic survey, new geologic and geochemical analysis,
and Quantec Geoscience�s
cutting edge �Titian 24 Deep Earth Imaging� (�Titan 24�)
technology for Induced Polarization testing, which will image Sugarloaf�s
surface and deeper physical features. The system does not analyze
mineralization or grade of metals but will be helpful to visualize the
depth and the extent of the anomaly beyond the historic drilling. The
scheduled aeromagnetic survey and Titan 24 programs are focused to better
define the larger extent of the 4 km� surface gold anomaly which was
outlined in previous exploration and drilling by Riverside. The gold
geochemical anomaly is still open with potential of being a much larger
system in multiple directions. The new program is designed to
evaluate the broader potential, and locate high grade feeder zones.
About Titan 24 Deep Earth Imaging
The Titan 24 is a geological surveying tool used in mineral
exploration to image: conductive mineralization, disseminated
mineralization, alteration, structure and geology from surface to 700 m
depth. This allows targeting of drill holes to more than three times the
depth of previous drilling by Riverside at Sugarloaf Peak. By imaging to
depth first, a focused and more effective drilling campaign can provide key
results faster and more economically. This geophysical system utilizes
three primary data parameters: DC resistivity, Tensor MT resistivity and
IP. The technology employs a vast network of sensors running simultaneously
to collect and deliver a vast array of data more effectively than
traditional methods have proven.
About Sugarloaf Peak Gold Project
The Sugarloaf Peak Gold Project covers an area of 12 km�
and is located west of Quartzsite, Arizona, USA. In 2009, Riverside
completed a diamond core drill program that showed mineralization to a true
depth of 200 meters. Riverside substantiated a portion of the historic
data, while testing the geologic model to twice the depth of previous gold
exploration. Riverside produced surface assay results from <0.005 g/t to
more than 6 g/t gold, indicating the possibility of high grade gold in
feeder structures throughout the anomaly. The new work program,
funded through an option earn-in agreement with Choice Gold, will look to
enhance and better define the mineralization. It will expand surface work
with the aim of finding more high grade zones,
followed by geophysical surveying to image geology at depth. A follow up
drill program will commence later this year.
Option Agreement with Choice Gold Corp.
In February 2011 Riverside Resources, following its prospect
generator business model signed an option agreement with Choice Gold Corp.
whereby Choice Gold can acquire a 100% interest in the Company�s Sugarloaf
Peak Project in Arizona (News Release, February 28, 2011). In order to exercise the
option Choice Gold must issue Riverside an aggregate 13,600,000 Choice Gold
shares, make total cash payments of $1,750,000 to Riverside, and incur
$5,500,000 in exploration expenditures on the Property within 36 months of
the agreement. The issuance schedule of Choice Gold Corp.�s common shares
will be such that Riverside will maintain a significant ownership interest
in Choice Gold�s issued and outstanding shares.
About Riverside Resources
Riverside�s model of growth through partnerships and exploration
looks to use the prospect generation business approach to own resources,
while partners share in de-risking projects on route to discovery. The
Company currently has over $9,000,000 in the treasury and just over
33,000,000 shares issued. Additional property information on the
Company�s projects can be found on the Riverside Resources Inc. website at www.rivres.com. Riverside will have at
least five partners conducting exploration on eight Riverside owned
properties in the next three months, in addition to continuing its
Exploration Alliance with Cliffs Natural Resources.
The scientific and technical data contained in this news release
were prepared under the supervision of Locke Goldsmith, P. Eng., P. Geo.,
an independent 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.
"John-Mark
Staude"
Dr.
John-Mark Staude, President & CEO
For additional information contact:
Joness Lang
Manager, Corporate Communications
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
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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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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