NEWS RELEASE

Proposed Private Placement Amended

July 21, 2004

FOR IMMEDIATE RELEASE

Trading Symbol: RVN – TSX Venture Exchange

Vancouver, British Columbia … Further to its press release of July 19th, 2004, the Company has agreed to amend the price of its proposed non-brokered private placement involving the issuance of 7,000,000 units, each unit consisting of one common share and one share purchase warrant.

The private placement has been amended to reflect 3,500,000 non-flow through Units priced at $0.15 per Unit, and 3,500,000 flow-through Units priced at $0.20 per Unit. The warrants attached to the non-flow-through Units will grant the warrant holder the right to acquire one Common Share at a price of $0.15 per share for a period of 24 months from the Closing Date. The warrants attached to the flow-through Units have an exercise price of $0.20 per share for a similar period of 24 months from the Closing Date. Total gross proceeds from the amended private placement will be $1,225,000.

A finder’s fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange. Proceeds of the financing will be added to working capital and will be applied towards exploration expenditures budgeted for the Company’s mineral properties.

The Company plans to complete an extensive exploration and drilling program on its Raglan area properties in 2004.

ON BEHALF OF THE BOARD

(sgd.) “David Baker”, President

For further information, please call: (604) 685-3317

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.