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Gold/Mining/Energy : RVD-Rio Verde Minerals SERGIPE POTASH PROJECT Brazil -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (11)	6/25/2012 5:32:04 PM
From: Rocket Red	Respond to of 12

Rio Verde finds no potash salts in second Sergipe hole 2012-06-25 17:08 ET - News Release Shares issued 91,164,934 RVD Close 2012-06-22 C$ 0.26 Mr. Stephen Keith reports RIO VERDE MINERALS ANNOUNCES COMPLETION OF SECOND DRILL HOLE AT ITS SERGIPE POTASH PROJECT Rio Verde Minerals Development Corp. has completed the second drill hole at its Sergipe potash project, located in the Sergipe basin in northeastern Brazil. The location of the drill hole, SED-002-12, was selected based on reprocessed and reinterpreted 2D seismic data from Petrobras which was completed in 1995 and 2006. The results of the reinterpretation suggested a possible accumulation of salts, including several potash layers, existing within the geological formation known as the Ibura Member. While this hypothesis was successfully evidenced in the Company's first drill hole (see: February 7, 2012, "Rio Verde Minerals Reports High Grade Sylvinite of 25.0% KCl over 16.7m at the Sergipe Potash Project", Press Release), SED-002-12 intercepted only a thick layer of siliciclastic sediments alternated with carbonates and anhydrite, with no potash salts identified. The absence of the evaporitic sections can be attributed to a combination of basin depositional and/or tectonic causes. With the aid of drill hole SED-002-12, it was possible to obtain valuable information on the distribution of the deposit. Based on the results of the drill hole, an improved interpretation of the seismic data is possible. Through this, reliable input data can be provided for subsequent design phases. After interpreting the results of SED-002-12, the Company has decided to prioritize a seismic program at the Sergi target, with the objective of precisely identifying the sub-basin's limits and the feeder channels in order to define the next drilling locations. This program is in the process of being designed and permitted, and is expected to commence in August 2012. Commenting on the results, Stephen Keith, CEO, stated: "The results of SED-002-12 have not lowered our expectations for proving out a potash resource at the project, particularly given our original drill hole assay results. As with any exploration program, our strategy takes into account a number of contingencies. The upcoming seismic program represents the next logical step in the development of the project. We are confident that the program will substantially increase our understanding of the local geology of the basin and continue to de-risk the project. We would also like to note that the drill result detailed herein does not affect the Company's recently announced private placement (see: May 25, 2012, "Rio Verde Minerals Announces Non-Brokered Private Placement of Up to C$15 Million", Press Release). We are secure in the long-term support of our strategic partners, and believe that our strong cash position, potential cash generation from the Fosfatar Phosphate Project and exploration expertise will allow us to continue working towards the delineation of a significant potash resource at the Sergipe Project." In addition to the seismic program at the Sergi Target, Rio Verde also intends to complete a seismic program at its Capela and Rio do Sal Potash Targets. The objective of this program is to update the historical database acquired from Petrobras, which will significantly increase the likelihood of success of any future drilling. Qualified Person The "Qualified Person," as such term is defined in National Instrument 43-101, who has reviewed and approved the technical information in this new release, is Dr. Henry Rauche of ERCOSPLAN of Erfurt, Germany, an independent consultant for Rio Verde. We seek Safe Harbor.