Rye Patch Updates Rochester Project Resources Based on Coeur

Rye Patch Updates Rochester Project Resources Based on Coeur
d'Alene's Recent Disclosures 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/06/12 -- Rye Patch
Gold Corp. (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the
"Company" or "Rye Patch") updates gold and silver resources on the LH
and OG unpatented lode mining claims in Pershing County, Nevada based
solely on information disclosed by Coeur d'Alene Mines Corporation
("CDE"). The LH and OG unpatented lode mining claims are located on
lands previously staked by CDE's subsidiary, Coeur Rochester Inc.
("CRI"), and which became void prior to the staking of the LH and OG
claims by Rye Patch Gold US Inc., the Company's wholly-owned
subsidiary. 
On September 11, 2012 and October 25, 2012, CDE presented at the
Denver Gold Forum and the Spokane Silver Summit, respectively. In
these presentations, CDE disclosed the amount of reserves and
resources affected by the on-going legal dispute between CRI and Rye
Patch Gold US Inc. Based on CDE's published 2011, yearend reserve and
resource disclosure in its 10-K and the recent presentations, the
mineral resources on the LH and OG unpatented lode mining claims are
shown in Table 1. 


 
Table 1: CDE's Coeur Rochester Inc. Measured, Indicated and Inferred        
Resources                                                                   
                                                                            
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                                                  Contained Ounces(5)       
Rochester Year End                    Grade           (100% Basis)          
 2011 Resources (1)            (Ounces/Ton)              X 1000             
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                 Tons                                                       
                X1000     Silver       Gold     Silver       Gold   Ageq (4)
Measured &                                                                  
 Indicated    251,472       0.45      0.003    112,348        867    155,698
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Inferred       40,543       0.58      0.003     23,619        122     29,719
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                                                          LH and OG         
                           CRI Ounces (2)             Claim Ounces(3)       
Rochester Year End          (74% M+I tons)             (26% M+I tons)       
 2011 Resources (1)             X 1000                     X 1000           
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                 Tons                                                       
                X1000    Silver   Gold  Ageq (4)    Silver    Gold  Ageq (4)
Measured &                                                                  
 Indicated    251,472    83,137    641   115,216    29,210     225    40,481
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                                                          LH and OG         
                              CRI Ounces                Claim Ounces        
                         (59% Inferred tons)         (41% Inferred Tons)    
Inferred       40,543    13,935     71    17,534     9,683      50    12,184
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(1)   Rochester resources from Coeur d'Alene Mines Corporation 2011 yearend 
      resource table at $1,500 per ounces gold and $30 per ounce silver;    
(2)   Coeur d'Alene Mines Corporation disclosure, Denver Gold Forum,        
      September 11, 2012 (website presentation);                            
(3)   Converse of Coeur d'Alene Mines Corporation disclosure showing        
      resources on LH and OG Claims;                                        
(4)   Ageq equals gold ounces times fifty plus silver ounces (Ageq =        
      ((Au(i)50) + Ag); and                                                 
(5)   Separate measured and indicated tons unknown to Rye Patch.            

 
These estimates in respect of the LH and OG unpatented lode mining
claims should not be construed as current mineral resources
attributable to Rye Patch, as they are derived solely from public
information disclosed by CDE, and Rye Patch has not verified any of
the data that CDE has relied upon in estimating CDE's total published
resources on the Rochester project. Although CDE's published report
appears to be prepared by a qualified person and the procedures,
methodology and key assumptions disclosed therein are those adopted
and consistently applied in the mining industry, no independent
qualified person engaged by Rye Patch has done sufficient work to
analyze, interpret, classify or verify CDE's information to determine
any current mineral reserve or resource on the LH and OG unpatented
lode mining claims. Accordingly, the reader is cautioned in placing
any reliance on the above estimates. 
The value and quality of the measured, indicated, and inferred silver
equivalent ounces vary with jurisdiction, infrastructure, geometry,
grade and metallurgy. The quality of these ounces is considered
excellent since Nevada has extraordinary infrastructure, the resource
is near surface, and grades and metallurgy are assumed to be similar
as those immediately adjacent in the Rochester and Packard mines.  
CDE reported on December 5, 2011 that based on the 2010 year end
reserve statement, up to 20% of the proven and probable reserve was
affected by the disputed claims. From its September 11, 2012 and
October 25, 2012 presentations, CDE now reports that no proven or
probable reserves are located on the LH and OG claims,
notwithstanding a 19% increase in gold price ($1,220 vs. $1,025) and
a 42% increase in silver price ($23 vs. $16.25) used in calculating
the December 31, 2011 year end reserve and resource disclosure. 
Last fall, Rye Patch Gold US Inc. located unpatented lode mining
claims on open federally owned public lands of the United States of
America. The federal lands became open for the staking of unpatented
lode mining claims on September 1, 2011 when CRI did not pay the
time-sensitive, mandatory unpatented claim maintenance fee. As a
result of CRI's failure, its former 541 unpatented lode mining claims
were forfeited and void as a matter of law, and the public lands
became open for the location of unpatented lode mining claims by
United States citizens. 
CRI received decision letters from the United States Bureau of Land
Management officially declaring CRI's former 541 unpatented lode
mining claims forfeited and void as a matter of law. CDE reported in
its 10-K that CRI failed to pay the mandatory claim maintenance fees,
resulting in the former 541 unpatented lode mining claims becoming
void.  
Since the federal lands that previously covered the forfeited 541
unpatented lode mining claims were open to mineral location by all
United States citizens, including Rye Patch Gold US Inc., for 56
days, Rye Patch Gold US Inc. began staking the 402 LH unpatented lode
mining claims on the open federal lands. The claim staking commenced
on October 27, 2011, and all monumentation was completed by November
21, 2011. In late November 2011, Rye Patch Gold US Inc. contacted CRI
to notify it that the 402 LH unpatented lode mining claims had been
staked. CRI responded by overstaking the senior 402 LH unpatented
lode mining claims with a junior set of claims denoted as the N
unpatented lode mining claims, and this triggered the legal
proceedings between Rye Patch Gold US Inc. and CRI over title to the
claims. In 2012, an additional 11 unpatented lode mining claims were
staked on open lands bringing Rye Patch Gold US Inc.'s total number
of unpatented lode mining claims to 413 for the Rochester Project. 
Rye Patch Gold US Inc. controls over 100 square kilometres (40 sq.
miles) along the Oreana trend. The LH and OG Claims which comprise
the Rochester Project consist of 413 unpatented lode mining claims
which cover over 30 square kilometres (7,500 acres).  
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 Company's
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 Barrick's
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 Company's 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 Company's 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 Company's 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. 
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. 
Contacts:
Rye Patch Gold Corp.
(604) 638-1588
(604) 638-1589 (FAX)
info@ryepatchgold.com
www.ryepatchgold.com
 
 
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