Riva Gold shareholders approve acquisition by Wildcat Silver

VANCOUVER, May 3, 2013 /CNW/ - Riva Gold Corporation (TSXV: RIV) ("Riva") and Wildcat Silver Corporation (TSX: WS) ("Wildcat") announce that the acquisition of Riva by Wildcat was approved at Riva's annual general and special meeting of shareholders today. The acquisition of Riva by Wildcat was announced on March 4, 2013 and a definitive agreement was entered into and announced on April 4, 2013 providing for the acquisition by Wildcat of all the outstanding common shares of Riva in consideration for one common share of Wildcat for 4.7 common shares of Riva.

The transaction will be completed by way of the amalgamation of Riva and a wholly-owned subsidiary of Wildcat under the Business Corporations Act (British Columbia).  Full details on the transaction can be found in Riva's management information circular dated April 3, 2013, which is available on SEDAR (www.sedar.com) under Riva's SEDAR profile. Subject to customary regulatory approval, Riva expects the transaction to be completed on May 6, 2013.

About Riva
Riva is a Canadian-based mineral exploration company that was focused on identifying and developing new discoveries. Riva was assessing its strategic alternatives and evaluating potential opportunities with the objective of taking a staged approach to its activities. Riva trades on the TSX Venture Exchange under the symbol "RIV".

About Wildcat
Wildcat is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa silver project located in Santa Cruz County, Arizona. The project currently has a preliminary economic assessment completed which estimates average annual production of over 15 million ounces of silver for the first five years and a 16 year mine life, making it one of the largest undeveloped silver projects in the USA.  Hermosa's measured and indicated mineral resource consists of 194 million tonnes averaging 37.7 grams per tonne silver for a total of 236 million ounces of silver and an inferred mineral resource of 80 million tonnes averaging 30.9 grams per tonne silver for a total of 79 million ounces of silver as announced in the August 9, 2012 press release.

FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, but are not limited to, statements or information with respect to: the proposed amalgamation of Riva with a wholly-owned subsidiary of Wildcat, the exploration and development of mineral properties; and Riva and Wildcat's future business and strategies.

Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, that the transaction between Riva and a wholly-owned subsidiary of Wildcat will complete, that no significant adverse changes will occur to planned exploration expenditures, that there will be no significant delays of the completion of planned exploration programs; as to the continuing availability of capital resources to fund exploration programs; and that Riva and Wildcat will not experience any adverse legislative or regulatory changes. Although management of Riva and Wildcat believe that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such risks, uncertainties and other factors include, among other things: general economic, market and business conditions; land use rights; adverse industry events; the ability of Riva and Wildcat to acquire additional mineral properties of merit; and currency fluctuations.

Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Riva and Wildcat. Accordingly, readers should not place undue reliance on forward-looking statements or information. Riva and WIldcat undertake no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Wildcat Silver Corporation

Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Tel: [phone]
Email: [email protected] or [email protected]