Rift Basin Announces Private Placement for Gross Proceeds of Up to $1,000,000

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES


Rift Basin Resources Corp. (TSX VENTURE:RIF) (the "Company" or "Rift Basin")
announces that it will proceed with a non-brokered private placement of up to
10,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds
of up to $1,000,000 (the "Offering"). Each Unit will consist of one common share
of the Company (a "Common Share") and one-half of a Common Share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder
thereof to purchase one Common Share at a price of $0.20 for a period of 12
months from the closing of the Offering, subject to the acceleration provision
described below. The Units will be made available by way of prospectus
exemptions in Canada and in such other jurisdictions as the Company may agree
where the Units can be issued on a private placement basis, exempt from any
prospectus, registration or other similar requirements.


The Company will be entitled to accelerate the expiry date of the Warrants to
the date that is 30 days following the date the Company issues a news release
announcing that the published closing price of the Common Shares on the TSX
Venture Exchange (the "Exchange") has been equal or greater than $0.30 for any
ten consecutive trading days after the hold period on the Common Shares has
expired.


The Company may pay a finder's fee on the Offering within the amount permitted
by the policies of the Exchange. Closing of the Offering is subject to a number
of conditions, including receipt of all necessary corporate and regulatory
approvals, including the Exchange. All securities issued in connection with the
Offering will be subject to a statutory hold period of four months plus a day
from the date of issuance in accordance with applicable securities legislation.
The net proceeds from the Offering will be used by the Company for general
corporate purposes and may be used for the acquisition of oil and gas
properties.


About Rift Basin

The Company is listed on the TSX Venture Exchange under the symbol "RIF". The
Company is currently listed as a Tier 2 mining issuer and is seeking to become
an oil and gas issuer. Additional information about Rift Basin is available
under Rift Basin's SEDAR profile at www.sedar.com.


ON BEHALF OF THE BOARD

Wayne Koshman, Chief Executive Officer

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press release are forward-looking
statements and information within the meaning of applicable securities laws.
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties beyond the
Company's control. Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the forward-looking
statements contained in this news release. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company undertakes no
obligation to update publicly or otherwise revise any forward-looking
statements, except as may be required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Rift Basin Resources Corp.
Wayne Koshman
Chief Executive Officer
(604) 608-1999
(604) 688-0854 (FAX)

Rift Basin Resources Corp (TSXV:RIF)
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