Rye Patch Gold Corp.

Published : August 21st, 2007

Acquiring The Jessup Project, Nevada From Midway Gold Corp.

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Rye Patch Gold Corp. Acquiring The Jessup Project, Nevada From
Midway Gold Corp.

Vancouver, British Columbia, August 21, 2007 - Rye Patch Gold Corp.
("Rye Patch Gold") and Midway Gold Corp. ("Midway") are pleased to
announce the following:

Rye Patch Gold has agreed to acquire all of Midway's right, title and
interest in the Jessup project located in Churchill County, Nevada.
Midway, through its plan of arrangement with Pan-Nevada Gold
Corporation ("Pan-Nevada Gold"), acquired the Jessup project in early

The Jessup project is comprised of a total of 36 unpatented mining
claims owned by Midway; one patented mining claim; and 99 unpatented
mining claims held by Midway under leases with the various claim
owners. The Jessup project is located in the historic Jessup mining

A resource estimate for the Jessup project was prepared by Mine
Development Associates (MDA) in February 1998, which reported 8,376,000
tons with a grade of 0.024 oz Au/ton, amounting to approximately
200,000 ounces of gold. The cut-off grade used for the estimate was
0.010 oz Au/ton.

This estimate was not classified under any of the categories of
measured, indicated and inferred resources under National Instrument
43-101 ("NI 43-101") and is considered a historical estimate under NI
43-101. Rye Patch Gold considers the reported numbers to refer to an
aggregate resource incorporating all categories of measured, indicated
and inferred resources. Rye Patch Gold is not treating this historical
estimate as a NI 43-101 defined resource by a qualified person and
cautions that this historical estimate should not be relied upon.

Pan-Nevada previously commissioned MDA to prepare a comprehensive
technical report to update the resource calculation on the Jessup
project based on data drawn from Pan-Nevada's prior work on the
property. This technical report will be completed for Rye Patch Gold
and filed on SEDAR when available.

As consideration for Midway's sale of the Jessup project to Rye Patch
Gold, Rye Patch Gold is to issue to Midway on the closing date of the
acquisition a total of 2,000,000 units ("Units") of Rye Patch Gold,
each Unit comprising of one common share ("Share") of Rye Patch Gold
and one-half of one non-transferable common share purchase warrant
("Warrant"), with each whole Warrant entitling Midway to purchase one
Share for a period of 24 months from the closing date of the purchase
and sale of the Jessup project at an exercise price of Cdn.$1.00. The
Shares comprising the Units will be subject to resale restrictions for
up to 2 years from the closing date.

In addition, Rye Patch Gold will reimburse Midway for costs incurred in
connection with the Jessup project in the amount of approximately
US$252,000, which includes advance royalty payments to underlying claim
owners and claim maintenance fees.

Closing of the sale of the Jessup project is subject to the receipt of
TSX Venture Exchange approval and the satisfaction of other customary
closing conditions.

William C. (Bill) Howald, CEO and President of Rye Patch Gold Corp.
commented, "The acquisition of the Jessup project is exactly along the
lines of our Nevada strategy to bring resource-based projects into the
Company's portfolio. The Jessup property is located near Interstate 80
at the Jessup exit and will allow Rye Patch to increase its portfolio
of properties along the I-80 corridor. This accumulation of
resource-based projects along the main transportation artery of Nevada
has potential to fill unused milling capacity for the major gold miners
in Nevada."

"Our strategy of finding, developing and selling high-grade deposits
near the I-80 corridor can potentially fit the needs of the Nevada
based gold miners."

Alan Branham, President and CEO of Midway Gold stated, "Midway has
chosen to focus our exploration efforts on our developing resources at
Spring Valley, Pan, and Midway, along the major gold trends. Midway
currently has a total of seven drill rigs exploring the expansions of
these three prospective projects. We wish Rye Patch success in their
plans at Jessup."

The underlying lease obligations in respect of 96 unpatented claims on
the Jessup project involve making monthly advance royalty payments of
US$6,000 in 2007, increasing by US$1,000 per month in each successive
year until it reaches US$9,000 per month in 2011 and continues
thereafter at that amount. These claims are subject to a production
royalty in favour of the lessor of between 1% and 3.5% depending on the
average quarterly price of gold, and all advance royalty payments may
credited towards any payments of the production royalty. These claims
are also subject to a 1.6% net smelter return royalty in favour of a
prior claim owner. Rye Patch Gold may purchase these properties
(subject to the 1.6% net smelter return royalty) by paying the lessor
US$2 million if the option is exercised by May 12, 2008, US$2.5 million
if the option is exercised by May 12, 2009 or US$3 million if the
option is exercised by May 12, 2010, less all advance royalty payments
previously paid to the lessor.

The underlying lease obligations in respect of 3 unpatented claims on
the Jessup project involve making advance royalty payments of US$8,000
in 2008, US$9,000 in 2009, US$10,000 in 2010, and US$10,000 for each
year thereafter. These claims are subject to a 2% production royalty in
favour of the lessor, and all advance royalty payments may be credited
towards any payments of the production royalty. Rye Patch Gold may
purchase one-half of the production royalty interest (1%) at any time
during the term of the lease for US$1 million, less all advance royalty
payments previously paid to the lessor.

The underlying lease obligations in respect of the one patented claim
on the Jessup project involve making annual advance royalty payments of
US$5,000 in 2008 up to and including 2010, US$10,000 in 2011 up to and
including 2015, US$20,000 in 2016 up to and including 2020 and
US$30,000 in 2021 and US$30,000 for each year thereafter. This claim is
subject to a 5% production royalty in favour of the lessor in respect
of precious metals, and all advance royalty payments may be credited
towards any payments of the production royalty. Rye Patch Gold may
purchase this claim and one-half of the production royalty interest
(2.5%) at any time during the first five years of the lease for

Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company
building a sizeable inventory of gold assets in the mining friendly
state of Nevada, USA. The Company's seasoned management team is engaged
in acquisition, exploration and development of quality resource-based
gold deposits. Rye Patch Gold is developing its primary asset -- the
advanced-stage Wilco project located within the Humboldt Gold Trend in
west-central Nevada, and is now acquiring the Jessup project in
Churchill County, Nevada.

Midway Gold Corp. is a precious metals exploration company, listed as a
Tier 1 issuer on the TSX Venture Exchange under the symbol "MDW".
Midway focuses on the creation of value for shareholders by
aggressively exploring and developing high-grade, quality precious
metal resources in stable mining areas.

Rye Patch Gold Corp.
On behalf of the Board of Directors
William C. (Bill) Howald, CEO & President

For further information, please contact:

The Buick Group.
Jon Ruby
Phone: 1 (877) 748-0914

Midway Gold Corp.
Allan Shepard
Phone: 877-550-8181 (toll-free)


The securities to issued by Rye Patch Gold Corp. have not and will not
be registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), or the securities laws of any state of the
United States, and may not be offered or sold in the United States
absent registration or an applicable exemption therefrom under the 1933
Act and the securities laws of all applicable states.

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

Copyright (c) 2007 RYE PATCH GOLD CORP. (n/a) All rights reserved.
For more information visit our website at http://www.ryepatchgold.com/
or send mailto:info@ryepatchgold.com

Rye Patch Gold Corp.

ISIN : CA7837271005
CUSIP : 783727 10 0
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Rye Patch Gold is a gold exploration company based in Canada.

Rye Patch Gold holds various exploration projects in USA.

Its main exploration properties are LINCOLN HILL, JESSUP, WILCO, GARDEN GATE PASS and GOLD RIDGE NEVADA in USA.

Rye Patch Gold is listed in Canada. Its market capitalisation is CA$ 410.5 millions as of today (US$ 318.7 millions, € 273.4 millions).

Its stock quote reached its lowest recent point on February 20, 2009 at CA$ 0.10, and its highest recent level on January 19, 2018 at CA$ 1.66.

Rye Patch Gold has 387 300 000 shares outstanding.

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Financings of Rye Patch Gold Corp.
12/24/2009Closes First Tranche Of Private Placement
12/15/2009Announces Private Placement
12/15/2008Announces Private Placement
5/16/2008Rye Patch Announces Follow-Up Private Placement
5/16/2008Rye Patch Closes $1.25 Million Private Placement
Option Grants of Rye Patch Gold Corp.
6/11/2008Grants Stock Options
Nominations of Rye Patch Gold Corp.
10/22/2007Hires Manager Of Investor Relations
Project news of Rye Patch Gold Corp.
2/14/2014Discusses Exploration Programs And Budget For 2014
12/31/2013Coeur Rochester Mine Royalty Starts At Midnight
8/6/2013Quantifies 3.4% NSR Coeur Rochester Mine Royalty
5/9/2013(Lincoln Hill)Reports Lincoln Hill Exploration Update
5/8/2013Reports LH Claims Exploration Results
2/21/2013Expands Mystic And South Packard Pediment Silver-Gold Zones ...
10/1/2012Rye Patch Updates Gold Exploration Along the Cortez Trend
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012Rye Patch Announces Updated Gold and Silver Resources Within...
9/17/2012(Lincoln Hill)Announces Updated Gold and Silver Resources Within an Open P...
7/10/2012Rye Patch Intersects More Gold and Silver on the LH Claims
6/29/2012Rye Patch Leases Additional Land on the Rochester Project
6/27/2012Rye Patch Announces 1=2E28 Million ozs ofGold in the Measure...
5/30/2012(Garden Gate Pass)Starts Drilling at Garden Gate Pass
2/22/2012s Exploration Progress on Rochester Project
2/21/2012(Garden Gate Pass)Garden Gate Pass Project on Major Discovery Trend
2/1/2012(Gold Ridge Nevada)Reports Gold And Silver Assays From Gold Ridge
1/24/2012Stakes More Claims And Starts Drilling At Rochester
1/9/2012Makes New Gold and Silver Discoveries on the Rochester Prope...
1/6/2012(Garden Gate Pass)Bill Howald interviewed by Smallcappower.com regarding the r...
12/8/2011(Lincoln Hill)Announces Results of 2011 Lincoln Hill Drill Program
12/5/2011Expands Oreana Trend Holdings Stakes Mining Claims On Existi...
10/3/2011(Lincoln Hill)Finds New High-Grade Gold And Silver Zones At Lincoln Hill
9/13/2011(Garden Gate Pass)is Drilling at Garden Gate Pass Project
8/9/2011(Garden Gate Pass)is Ready to Drill Garden Gate Pass Project
7/27/2011(Wilco)Reports Metallurgical Results From Wilco
6/2/2011(Wilco)Drills Thick Gold Zone at Wilco
5/25/2011(Lincoln Hill)Starts Drilling on Jefferson Zone at Lincoln Hill
5/16/2011Resource Clips: Rye Patch Works Toward Eight Million Nevada ...
5/9/2011(Wilco)Extends North Basin High-Grade Zone At Wilco
4/20/2011(Jessup)Adds Jessup to 2011 Program and Budget
3/3/2011(Wilco)Drills More High-Grade Gold at Wilco
2/17/2011(Wilco)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Jessup)Announces 2011 Programs and Budgets for Nevada Portfolio
2/17/2011(Gold Ridge Nevada)Announces 2011 Programs and Budgets for Nevada Portfolio
2/8/2011(Lincoln Hill)Drills Thick Zones of Gold and Silver at Gold Ridge
1/25/2011(Wilco)Continues Drilling Success at Wilco
1/12/2011(Lincoln Hill)Drills New Gold and Silver Zone on Lincoln Hill
8/11/2010(Lincoln Hill)Identifies New Gold Target Along The Oreana Trend
6/30/2010(Lincoln Hill)Files Technical Report on Lincoln Hill Resource
6/7/2010(Wilco)Drills 44.5 G/T Au and 36.3 G/T Ag over 1.5 Metres at Wilco
12/10/2009(Lincoln Hill)Drills 21.19 g/t Gold Over 7.0 Metres At Lincoln Hill
11/13/2009(Lincoln Hill)Drills 15.2 G/T Gold And 308 G/T Silver Over 3 Metres At Lin...
6/11/2009(Lincoln Hill)Plans Program for High-Grade Gold at Lincoln Hill Project
6/2/2009(Jessup)Jessup Gold and Silver Resource Estimate
11/25/2008(Wilco)Drills 38.1 Metres Grading 2.61 G/T Au In New Target At Wilc...
11/12/2008(Jessup)Drills 7.6 Metres Grading 9.19 G/T Au At Jessup
6/17/2008(Wilco)Begins 2008 Drilling on Wilco Project to Expand Known Gold R...
5/12/2008(Wilco)Outlines Oxide Characteristics Of Wilco Resource
3/27/2008(Jessup)Extends Gold Mineralization At The Jessup Resource Project
3/12/2008(Lincoln Hill)Discusses Progress At The Lincoln Hill/Gold Ridge Project
1/9/2008(Wilco)Drills 176 Feet Of 0.030 Opt Gold At Wilco Discovery
Corporate news of Rye Patch Gold Corp.
7/29/2016Rye Patch Announces Acquisition of the Florida Canyon Gold M...
7/9/2016Rye Patch Announces Filing of NI 43-101 Technical Report on ...
6/16/2016Rye Patch Announces Completion of Cdn$49.1 Million Private P...
6/2/2016Rye Patch Announces Cdn$40 Million Private Placement of Subs...
5/25/2016Rye Patch Signs Agreement to Acquire Florida Canyon Gold Min...
1/14/2016Rye Patch Stakes claims along Gold Ridge-Florida Canyon tren...
12/18/2015Rye Patch Amends Patty Agreement with Barrick and Provides U...
12/15/2015Caesars Report's Thibaut Lepouttre Interviewed by The Gold R...
10/29/2015Rye Patch receives $1,462,300 quarterly royalty payment
10/28/2015Rye Patch Begins Drilling Within the Lincoln Hill Resource C...
10/19/2015U.S. Global Investors' Frank Holmes and Ralph Aldis Intervie...
9/15/2015Rye Patch Completes Metallurgical Drill Program at Lincoln H...
8/28/2015Rye Patch Gold Grants Stock Options
8/11/2015Rye Patch Arbitrates Q1 2014 Royalty Payment with Coeur
7/16/2015Rye Patch receives $1,490,000 quarterly royalty payment
7/9/2015Rye Patch Purchased and Cancelled 923,500 Common Shares in Q...
4/16/2015Rye Patch Receives $1,850,000 Quarterly Royalty Payment
4/9/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/9/2015Rye Patch Hires Lincoln Hill Project Team
4/7/2015Rye Patch Completes Land Purchase at Lincoln Hill
4/2/2015Rye Patch Adds to Oreana Land Position
3/18/2015Rye Patch Drilling Targets World Class Cortez Gold Trend
3/3/2015Rye Patch Gold Buys Strategic Private Surface and Mineral Es...
3/2/2015Rye Patch Gold Appoints Tony Wood as Chief Financial Officer
2/10/2015Rye Patch Gold 2015 - Funded and Active
11/25/2014Rye Patch Updates Investors On Receipt Of Cash From Royalty
11/24/2014Rye Patch Drills High-Grade Structural Zones At Lincoln Hill
10/15/2014Rye Patch Drills High-Grade Gold At Wilco
10/6/2014Rye Patch Clarifies MD&A and Technical Disclosure
9/17/2014Rye Patch Appoints Buffington to Board of Directors
9/15/2014Rye Patch Drills 1.24 g/t AuEq Over 19.8m at Its Gold Ridge ...
9/8/2014Rye Patch Appoints VP Corporate Development
8/21/2014Rye Patch Gold Announces Stock Options Extensions
7/23/2014Rye Patch Gold Grants Stock Options
7/3/2014Rye Patch Announces Filing of Technical Report for Lincoln H...
5/28/2014Rye Patch Reports Drilling Starts at Lincoln Hill
5/21/2014Rye Patch Announces Lincoln Hill Preliminary Economic Assess...
5/9/2014Rye Patch Gold Appoints New Chairman
12/11/2013(Lincoln Hill)Receives Positive Metallurgical Results From Lincoln Hill
7/12/2013Grants Stock Options
6/25/2013And Coeur Reach Settlement On LH Claim Legal Dispute
6/3/2013Reports Expansion Of Goldridge Gold/Silver Zone
11/6/2012Rye Patch Updates Rochester Project Resources Based on Coeur...
11/6/2012s Rochester Project Resources Based on Coeur d'Alene's Recen...
10/26/2012Receives New Trial Date From Sixth District Court
10/16/2012Rye Patch Receives Court Order Granting Coeur's Motion to Po...
10/16/2012Receives Court Order Granting Coeur's Motion to Postpone
10/1/2012s Gold Exploration Along the Cortez Trend
8/16/2012Rye Patch Gold Announces Amended Non-Brokered Private Placem...
8/15/2012Rye Patch Updates Status of Lawsuit Against Coeur Rochester,...
8/6/2012Rye Patch Stakes More Mineral Claims at Rochester and Packar...
5/30/2012Mid-Day Breaking News From Gold Canyon and Rye Patch
5/29/2012Drills Significant Gold And Silver Zones On The LH Claims
3/12/2012Files Motion for Restraining Order Against Coeur d'Alene Min...
2/15/2012Rye Patch Gold Achieves #6 Ranking on the 2012 TSX Venture 5...
1/16/2012Added To S&P/Tsx-V Index
1/10/2012Bill Howald discusses the latest Rochester Press Release wit...
1/5/2012Cuts Lower Plate Carbonates, Carlin-Style Alteration, and El...
12/21/2011Granted Access To The LH Claims
12/17/2011s Court Proceedings
9/8/2011Barrick's New Multi-Million Ounce Discovery at Cortez (Nevad...
8/25/2011Jay Taylor writes up Rye Patch Gold Corp.
2/17/2011Announces 2011 Programs and Budgets for Nevada Portfolio
7/28/2010Leases Wilco Geothermal Rights
6/23/2010Ubika Research Initiates Coverage on Rye Patch Gold Corp.
2/26/2010has been added to GoldMinerPulse.com
2/10/2010Executes Definitive Agreement with Centerra Gold (U.S.) Inc....
10/21/2009Coverage in the Gold Newsletter
11/28/2008Announces Release Of Previously Escrowed Securities
11/4/2008TSX Venture Exchange Advances Rye Patch Gold To Tier 1 Statu...
9/24/2008Drills 25 Feet Grading 2.2 Ounces/Ton Au at Lincoln Hill
9/17/2008Drills 45.7 Metres Grading 1.34 G/T Au At Wilco
8/19/2008Reports Lincoln Hill - Gold Ridge Drilling Complete
7/29/2008Reports On The Wilco Drill Program
7/10/2008Begins Drilling On Lincoln Hill And Gold Ridge
5/29/2008Confirms Ridge Gold/Silver Anomaly On Lincoln Hill
5/28/2008to be featured on CEO Clips airing on BNN
4/30/2008Increases Wilco Gold Resource
4/3/2008 Retains Renmark Financial Communications
2/28/2008Releases Project Programs And Budgets For 2008
2/6/2008Options Cortez Trend Gold Play From Barrick
11/19/2007Acquires Rights to Lincoln Hill Property, Nevada and Consoli...
10/17/2007Expands Section Line Discovery on Wilco Project
10/3/2007Completes Acquisition Of The Jessup Project, Nevada From Mid...
9/25/2007Drills 21 Metres of 2.74 g/t Gold New Gold Zone on Wilco Pro...
9/6/2007Doubles Wilco Gold Resource
8/21/2007Acquiring The Jessup Project, Nevada From Midway Gold Corp.
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