VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug.
6, 2012) - Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company") announces that Rye Patch Gold US Inc., the Companys wholly owned subsidiary, has staked ten additional unpatented lode claims on the Rochester project on open ground immediately north and northeast of the Rochester open pit mine and on the east and west sides of the Packard open pit mine.
Two of the claims (OG1 and OG2) are located northeast of the pit and cover the strike projection of the main mineral trend from the Rochester pit toward the northeast.
Five of the claims are located in the Packard area to cover fractions among the Rye Patch Gold US Inc.
LH unpatented claims and CRIs patented claims around the Packard open pit.
One claim is located on the east side of the Packard pit and the remaining four claims are to the west.
Mr.
William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Golds CEO and President, is a Qualified Person as defined under National Instrument 43-101.
He has reviewed and approved the contents of this news release.
Rye Patch Gold US Inc.
controls over 100 square kilometres (40 sq.
miles) along the Oreana trend.
The Rochester Property - LH and OG Claims - cover over 30 square kilometres (7,500 acres), and the mineral title is disputed by Coeur Rochester Inc.
The Sixth District Court of Nevada has enjoined Rye Patch Gold US Inc., for safety reasons, from conducting exploration activities on approximately 7.4 square kilometres (1,839.3 acres) covering the active open pit, mine dumps and leach pads in the immediate Rochester Mine area.
It is the position of Rye Patch Gold US Inc.
that all the LH and OG claims are valid senior unpatented lode mining claims, including those claims within the court-ordered enjoined area.
Geologic assessment and drilling confirm discoveries on the LH claims and the land area which covers up to 20% of Rochesters published proven and probable silver and gold reserve along with a significant portion of the published silver and gold resource based on Coeurs December 5, 2011, news release.
The Company is a Tier 1, Nevada-focused and discovery-driven company seeking to build a sizeable inventory of gold and silver resource assets in the mining friendly state of Nevada, USA.
The Companys seasoned management team is engaged in the acquisition, exploration, and development of quality resource-based gold and silver projects.
Rye Patch Gold US Inc.
is developing gold and silver resources along the emerging Oreana trend, located in west-central Nevada, and is exploring 66 square kilometres along the Cortez trend near Barricks two new gold discoveries.
The Company has established gold and silver resource milestones and time frames in order to build a premier resource development company.
For more information about the Company, please visit our website at
www.ryepatchgold.com.
On behalf of the Board of Directors
William C.
(Bill) Howald, CEO & President
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties.
The Companys actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Companys control.
These factors include: the availability of funds, the financial position of Rye Patch to pursue legal undertakings; the outcome of legal action relating to the Rochester property and the LH unpatented claims, the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Litigation is inherently uncertain and factors that could cause actual results to differ materially from those in forward-looking statements include unexpected judicial findings of fact, previously unknown facts arising, and decisions which depart from past legal precedent and similar events.
Forward-looking statements are based on the expectations and opinions of the Companys management on the date the statements are made.
The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
