Rift Basin Announces Formation of Strategic Alliance With Gulfsands

Rift Basin Resources Corp. (TSX VENTURE:RIF) (the "Company" or "Rift Basin")
announces that it has established a strategic alliance (the "Strategic
Alliance") with Gulfsands Petroleum plc ("Gulfsands"). The intention of the
Strategic Alliance is to facilitate the pursuit and acquisition of petroleum
projects (the "Projects") in Tunisia and elsewhere in the Middle East and North
Africa region for mutual benefit.


The directors of Rift Basin and Gulfsands have until now been pursuing a number
of potential Projects on an informal basis and matters have now reached a stage
where the parties consider it appropriate to more formally establish the basis
of this Strategic Alliance. It is the intention of the parties, unless otherwise
agreed, that Gulfsands will act as the operator of any Project acquired under
the Strategic Alliance and that Rift Basin's and Gulfsands' participating
interests in any Project will be 30% and 70% respectively. Under the terms of
the Strategic Alliance each party will have the right, but not the obligation,
to submit any Project to the other party for consideration and a joint
cooperation committee has been established to facilitate the cooperative review
process between the parties.


Completion of any transactions involving the Company's participation in any
Projects identified by the Strategic Alliance will be subject to a number of
conditions, including but not limited to, TSX Venture Exchange ("TSX-V")
acceptance and if applicable pursuant to TSX-V requirements, majority of the
minority shareholder approval. There can be no assurance that any transaction to
acquire any of the Projects identified by the Strategic Alliance with Gulfsands
will be completed.


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.


About Gulfsands

Gulfsands is an independent oil and gas exploration and production company,
whose shares are traded on the London Stock Exchange (AIM:GPX). Gulfsands' major
focus is on high impact projects in the Middle East and North Africa, where it
has oil exploration, production and development projects in the Syrian Arab
Republic (activities currently suspended in compliance with EU sanctions), and
oil exploration projects in Tunisia. Gulfsands also produces oil & gas from a
portfolio of properties in the USA, offshore Gulf of Mexico. Gulfsands' vision
is to become one of the pre-eminent independent exploration and production
companies in the Middle East and North Africa and a preferred operator and
partner.


ON BEHALF OF RIFT BASIN RESOURCES CORP.

Wayne Koshman, Chief Executive Officer

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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