Riverside Resources Inc. (TSX-V: RRI) today announced that Arcus Development Group (ADG) and Riverside have signed a Letter of Intent where by Arcus Development Group may earn a joint venture interest in Riverside's, Chapalota gold prospect, located in southern Sinaloa, Mexico near Geoinformatics La Noria Project and south of US Gold's Magistral Mine. The Chapalota property was acquired by Riverside through staking and is wholly-owned by Riverside.

To exercise an initial option and acquire a 51% interest in the Chapalota property, Arcus is required to pay Riverside $300,000 cash, issue Riverside 350,000 Arcus shares and incur exploration expenditures of $4,000,000 prior to the fourth anniversary of the option agreement. Exploration expenditures in year one of the initial option include a firm commitment of $350,000 and Arcus paying Riverside $25,000 and 50,000 shares upon approval of the transaction by the TSX and completion of mineral title verification. After exercising the initial option, Arcus will have a second option to acquire an additional 14% interest in the property by incurring a further $2,500,000 in exploration expenditures within a two year period and paying Riverside $500,000.

The Chapalota property is not subject to any underlying royalty interests and no finder's fee was paid in connection with this transaction.

John-Mark Staude, the Riverside President and CEO stated, "Riverside is delighted to partner with Arcus on the Chapalota project as this project lies in a major gold belt of western Mexico in a region with hundreds of years of precious metal production. We look forward to collaborating in exploration and unlocking the value to all stakeholders. This type of joint venture is an example of the company operating as a prospect generator where Riverside uses its vast database and on the ground experience to generate quality exploration properties in Mexico and then bring them to partners for early stage exploration."

About Riverside:
Riverside follows a prospect generator business model using experienced local prospectors, explorers and geologists to identify and acquire high quality mineral opportunities. 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.