Rye Patch Clarifies Rochester Project Technical Disclosures

Rye Patch Clarifies Rochester Project Technical Disclosures 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/07/12 -- Rye Patch
Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the
"Company" or "Rye Patch") is issuing this news release to clarify the
disclosure contained in its November 6, 2012 news release. In that
news release, the Company provided estimates of tonnage and grade and
contained ounces of measured and indicated mineral resources and
inferred mineral resources on the Company's LH and OG unpatented lode
mining claims based upon resource information publicly disclosed by
Coeur d'Alene Mines Corporation ("CDE").  
The information in the news release was derived solely from public
information disclosed by CDE, and the Company has not verified any of
the data that CDE has relied upon in estimating CDE's total published
resources on the Rochester property. Accordingly, the Company
withdraws all references stated in the November 6, 2012 news release
and located on the Company's website to the tonnage, grade and
contained ounces estimates calculated on the LH and OG claims. There
are no current mineral resources on the Company's LH and OG claims
and there is no assurance any mineral resources will be established
in the future. 
As disclosed in CDE's presentations at the Denver Gold Forum
(September 11, 2012) and the Spokane Silver Summit (October 25,
2012), written copies of which are accessible on CDE's public
website, CDE reported that 74% of CDE's measured and indicated
mineral resource tons and 59% of the inferred mineral resource tons
on the Rochester property are located on CDE's undisputed mining
claims. CDE's published 2011 year end disclosure of total Rochester
mineral resources was extracted from CDE's 10-K is also available on
CDE's website and is shown in Table 1 below. 


 
Table 1: CDE's Coeur Rochester Inc. 2011 Measured, Indicated and Inferred   
 Resources                                                                  
----------------------------------------------------------------------------
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Rochester Year                                                              
 End 2011                                                      
             
 Resources(1)                Ounces per Ton   Contained Ounces (100% Basis) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                        Tons  Silver    Gold      Silver    Gold     Ageq(2)
                                                                            
Measured         131,085,000    0.46   0.004  60,586,000 501,000  85,636,000
Indicated        120,387,000    0.43   0.003  51,762,000 366,000  70,062,000
                                                                            
M & I            251,472,000    0.45   0.003 112,348,000 867,000 155,698,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Inferred          40,543,000    0.58   0.003  23,619,000 122,000  29,719,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
 
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.  Ageq equals gold ounces times fifty plus silver ounces (Ageq =
    ((Au(i)50) + Ag).

 
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 LH and OG 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
CDE's December 31, 2011 year end reserve and resource disclosure. 
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).   
Mr. William Howald, AIPG Certified professional Geologist #11041, Rye
Patch's CEO and President, is a Qualified Person as defined under NI
43-101. He has reviewed and approved the contents of this 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 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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