Rift Basin Provides Update on the Acquisition and Trading Halt

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"),
further to its news release of December 21, 2012 (the "December News Release")
announcing a definitive farmin agreement for the Chorbane exploration permit
(the "Acquisition"), is pleased to announce receipt of approval from ETAP for
the Acquisition. ETAP is the Tunisian state-owned entity responsible for the
petroleum sector as well as the state's partnerships with foreign exploration
and production operators.


The TSX Venture Exchange (the "TSX-V") halted the Company's common shares prior
to the dissemination of the December News Release in accordance with TSX-V
policy. The Company wishes to provide market participants with details of the
TSX-V policy and trading halt which are summarized below.


Trading Halt

The Acquisition is the Company's first acquisition of an oil and gas asset and
for that reason the transaction is subject to a heightened level of regulatory
approval. Specifically, under TSX-V Policy 5.3 the transaction is defined as a
"Fundamental Acquisition" and under such a transaction a trading halt is
triggered concurrent with the dissemination of a comprehensive news release
disclosing such transaction. In summary, the trading halt was normal course for
a transaction of this type and was triggered when the Company disseminated the
December News Release.


Under TSX-V Policy 5.3 the Company's common shares will remain halted pending
TSX-V review of the following:




a.  the definitive farmin agreement for the Acquisition; 
b.  personal information forms or if applicable declarations for any new
    proposed insiders; and 
c.  the geological report for the transaction.



The Company does not expect to create any new insiders in connection with the
Acquisition and accordingly the Company does not expect to trigger TSX-V review
of item (b) above. Similarly, the Company pre-cleared the geological report for
the Acquisition with the TSX-V and the Company does not expect to trigger a
further review of item (c) above. The only item left for the TSX-V to review
prior to lifting the trading halt is the definitive farmin agreement (item (a)
above). Due to delays associated with the holidays the Company expects that
TSX-V's review of the definitive farmin agreement will be completed and that the
stock halt will be lifted in the week of January 7, 2013.


For details on the Acquisition please see the December News Release (a copy of
which is available under the Company's SEDAR profile at www.sedar.com). The
Acquisition is subject to a number of conditions, including but not limited to,
applicable regulatory approval (including approval of the TSX-V). There can be
no assurance that the Acquisition will be completed as proposed or at all.


In the December News Release the Company also announced a private placement (the
"Offering") for gross proceeds of up to $1,100,000. The Company is proceeding
with the Offering and expects to close the same in early January.


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 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)
www.riftbasinresources.com
Rift Basin Resources Corp (TSXV:RIF)
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