Rye Patch Gold Corp.

Published : June 02nd, 2009

Jessup Gold and Silver Resource Estimate

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NEWS RELEASE
No. 09 - 10

Rye Patch Updates Jessup Gold And Silver Resource Estimate

Vancouver, British Columbia, June 2, 2009 - Rye Patch Gold Corp (TSX-V: RPM; OTC: RPMGF) ("Rye Patch" or the "Company") announces an updated NI43 101 compliant resource estimate for the Jessup project based on the Company's 2008 drill results at the San Jacinto, North Jessup and Tosh Hill areas. The resource estimate shows an increase from the previously released (December 2007) estimate of 150% to 300,000 ounces of gold in measured and indicated category while the inferred gold ounces increased 250% to 77,000 ounces of gold. In addition, the Company updated the silver resource associated with the gold block model. A significant increase in the silver resource, as compared to the reported December 2007 estimate, is evident. The measured and indicated silver ounces increased to 5,090,000 ounces of silver from 1,655,000 ounces of silver, and the inferred resource increased from 286,000 ounces of silver to 1,146,000 ounces of silver. A summary is tabulated below:

Table 1: New NI43-101 Jessup Gold Resource Estimate

Jessup Resource Areas

Resource Category

Cutoff Grade

Measured

Indicated

Inferred

Tons (X1,000)

Grade OPT Au

Gold Ounces

Tons (X1,000)

Grade OPT Au

Gold Ounces

Tons (X1,000)

Grade OPT Au

Gold Ounces

San Jacinto

Variable (1)

4,866

0.014

66,000

7,939

0.012

95,000

2,473

0.015

38,000

North Central

Variable (1)

3,564

0.017

60,000

5,505

0.013

70,000

2,038

0.016

32,000

Tosh Hill

Variable (1)

142

0.014

2,000

492

0.014

7,000

442

0.016

7,000

Total

8,571

0.015

128,000

13,936

0.012

172,000

4,954

0.016

77,000

(1) Measured and Indicated resource is reported at 0.005 opt Au for oxide mineralisation and 0.010 opt Au for transition and sulphide mineralisation. The Inferred resource is reported at 0.005 opt Au for oxide, transition, and sulphide ore types; however, a higher opt Au cut-off grade may be required to upgrade the inferred resource to the measured and indicated resource category.

Table 2: New NI43-101 Jessup Co-Product Silver Resource Estimate

Jessup Resource Areas

Resource Category

Cutoff Grade

Measured

Indicated

Inferred

Tons (X1,000)

Grade OPT Ag

Silver Ounces

Tons (X1,000)

Grade OPT Ag

Silver Ounces

Tons (X1,000)

Grade OPT Ag

Silver Ounces

San Jacinto

Variable (1)

4,866

0.278

1,352,000

7,939

0.215

1,704,000

2,473

0.278

687,000

North Central

Variable (1)

3,564

0.230

820,000

5,505

0.211

1,163,000

2,038

0.205

417,000

Tosh Hill

Variable (1)

142

0.085

12,000

492

0.079

39,000

442

0.095

42,000

Total

8,571

0.255

2,184,000

13,936

0.209

2,906,000

4,954

0.231

1,146,000

(1) The silver tons and grade represent co-product silver within the gold block model of the resource estimate.

Scott E. Wilson Consulting, Inc. (SEWC) of Denver, Colorado completed the new resource estimate under the direction of Scott E. Wilson who is a qualified person as defined by NI43 101. The updated NI43-101 Jessup project technical report will be posted on SEDAR at www.sedar.com.

"The 2008 Jessup drilling program was very successful in expanding the deposit and upgrading the resource in the measured and indicated categories. The near-surface oxide is still open, and several exciting new high-grade targets have been identified at San Jacinto and North Jessup. The Company is defining resources at an approximate cost of US$1 per ounce of gold and gold equivalent in all categories and at an approximate cost of US$3.50 per ounce for measured and indicated gold and gold equivalent ounces. As a comparison, global finding costs are approximately US$50 per ounce for greenfield projects and US$16 per ounce for near mine exploration. Rye Patch's finding costs are very robust and are a testament to the quality and efficiency of its exploration staff", declared William C. (Bill) Howald, the Company's CEO and President.

Based on the new geologic model, gold and silver mineralisation is open down dip and along strike to the northwest of the San Jacinto deposit. The oxide material starts at the surface, has been drilled to a depth of 125 metres (410 feet), and is still open. In addition, the drilling has defined high-grade gold and silver breccias. The geologic and block models show mineralization is open at depth and along strike. Based on gold and silver assay results of the 2008 drilling program, drillholes that encountered breccias show higher grade mineralization; therefore, the breccias represent an exciting and potentially higher grade target on the Jessup property.

At North Jessup, gold and silver are open at depth and along strike to the northwest and northeast. The mineralized structures have elevated grades and are open along strike to the northwest and at depth. These oxide targets and extensions have been prioritized for follow up drilling.

At Tosh Hill, the high-grade structurally controlled gold and silver is open to the west-northwest and east-southeast. Surface rock-chip channel samples across the Tosh Hill structure (news release 07-08) show the vein-like structural control has potential for gold values of 16 g/t Au. The Tosh Hill target requires additional follow-up drilling to understand the high-grade gold zone.

The updated gold resource estimate is based on 3-D geologic models that incorporated over 20,000 individual gold and silver assays from 36 trenches and 335 drillholes -- 56 rotary, 270 reverse circulation, and 9 core drillholes including Rye Patch's 2008 45 reverse circulation drillholes. Block model grades were interpolated from twenty-foot, down-the-hole composites using inverse distance squared. No capping was required. The silver resource was prepared using the same geologic and estimation parameters as the gold block model estimation.

SEWC used industry-accepted standards to reclassify this new resource. Geologic interpretations were incorporated into the new resource which give greater confidence to the resource estimate. Cut-off grades were calculated based on referencing up-to-date costing structures that are publically available.

SEWC classified the Jessup resource by a combination of distance to the nearest sample, the number of samples, and number of holes used to estimate a block, while also taking into account project history, database quality, sample integrity and geologic understanding.

As released today on the Company's Jessup project, and on the Wilco project on May 11, 2009, Rye Patch Gold resources now consist of 1,164,000 ounces of gold and gold equivalent in the measured and indicated category plus 2,177,315 ounces of gold and gold equivalent in the inferred category. Table 3 summarizes Rye Patch Gold's precious metal inventory in Nevada, USA.

Table 3: Rye Patch Gold�s NI43-101 Resource Inventory

Property

Resource

Category 1

Tons

(X 1,000)

Gold

Grade

opt

 

Silver

Grade

opt

Contained

Gold

Ounces

Contained

Silver

Ounces

Contained

Gold & Gold Equiv.

Ounces 3

Wilco 2

Measured

Indicated

Inferred

8,296

34,660

134,303

0.020

0.015

0.012

0.134

0.105

0.148

164,000

522,000

1,660,000

1,111,000

3,638,000

19,871,000

188,000

600,000

2,084,315

Jessup 2

Measured

Indicated

Inferred

8,571

13,936

4,954

0.015

0.012

0.016

0.255

0.209

0.231

128,000

172,000

77,000

2,184,000

2,906,000

1,146,000

161,000

215,000

93,000

Total Measured Resources

Total Indicated Resources

Total Inferred Resources

292,000

694,000

1,737,000

3,295,000

6,544,000

21,017,000

349,000

815,000

2,177,315

1 Conforms to 43-101 definitions for resources. All numbers are rounded.
2 Cutoff grade for Wilco Measured and Indicated resource is reported at 0.0056 opt Au for oxide mineralisation and 0.042 opt Au for sulphide mineralisation. The Inferred resource is reported at 0.0056 opt Au for oxide, sulphide and carbonaceous ore types; however, a higher opt Au cut-off grade may be required to upgrade the inferred resource to the measured and indicated resource category. Cut-off grade for Jessup is reported at 0.005 opt Au for oxide mineralisation and 0.010 opt Au for transition and sulphide mineralisation;
3 Wilco and Jessup Resource includes Au equivalent ounces (Aueq.); where Aueq. = (Ag opt X $Ag/oz) + (Au opt X $Au/oz)/$Au/oz, for Au/oz = $750, and Ag/oz = $16. Metallurgical recoveries and net smelter returns are assumed to be 100%.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is the Qualified Person as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.

Rye Patch Gold maintains a strict quality control program at all of its projects. Drill samples are picked up on site by ALS Chemex's preparation and analytical facility located in Nevada. Gold analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods, with an atomic absorption finish. Gold over limits are determined using fire assay with a gravimetric finish. Silver is analyzed using ICP-MS with silver over limits determined using aqua-regia digestion with an ICP-AES or AAS finish. Gold and Silver check assays were delivered to Florin Analytical Services LLC of Reno, Nevada. The check assay program repeated gold and silver determinations for approximately 5-percent of the 2007 and 2008 drill programs.

Rye Patch Gold Corp. 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 acquisition, exploration and development of quality resource-based gold and silver projects. Rye Patch Gold is developing its primary assets -- the advanced-stage Wilco project located within the emerging Oreana gold trend in west-central Nevada and the Jessup project in Churchill County, Nevada. 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 Rye Patch Gold, please visit our website at www.ryepatchgold.com .

On behalf of the Board of Directors
'William Howald'
William C. (Bill) Howald, CEO & President

For additional information contact:


Rye Patch Gold Corp
Karen Robb, Manager, Investor Relations
nfo@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589
www.ryepatchgold.com


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 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.
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.

Suite 1740 - 1177 West Hastings St., Vancouver, BC, V6E 2K3, Canada
Phone 604-638-1588    Fax 604-638-1589    www.ryepatchgold.com

<

Rye Patch Gold Corp.

EXPLORATION STAGE
CODE : RPM.V
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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