Rye
Patch Updates Court Proceedings
Vancouver, British Columbia, December 16, 2011 - Rye Patch Gold Corp
(TSX.V: RPM; OTCQX: RPMGF) ("Rye Patch" or the "Company") provides the following update on the Nevada District Court proceedings arising out of the lawsuit filed by its wholly-owned subsidiary Rye Patch Gold US Inc. ("RPMUS") against Coeur Rochester, Inc.
("CRI"), a wholly-owned subsidiary of Coeur d'Alene Mines Corporation announced
by news release dated December
6, 2011.
Court proceedings began
on Thursday, December 15, 2011 on the motion of
RPMUS to dissolve the temporary restraining
order entered on December 5, 2011, to restrain
RPMUS from working on the
LH unpatented mining
claims which RPMUS staked
in October and November.
The hearing also considered RPMUS's motion for preliminary injunctive relief against CRI to restrain CRI from working on the LH Clams
and the corresponding motion of Coeur
to extend the effect of
the temporary restraining
order. The temporary restraining order will expire on December 20,
2011 unless extended by
the Court. The restraining order
was obtained by CRI without affording RPMUS an opportunity to oppose its
application.
The Court hearing re-convened
this morning and continued until 12:30 p.m. without resolution. The proceedings are scheduled to
continue on Tuesday, December 20, 2011 at which time final arguments will be presented
and the Court will rule
on the motions.
Rye Patch will provide a further update following
continuation of the hearing on December
20, 2011.
Rye Patch Gold Corp. is exploring
well-known mineral trends
in Nevada - the world's fourth-richest
gold region. Starting with 150,000 inferred ounces of gold in mid-2007, this
well-funded Company now has 1.2-million ounces of
gold and gold equivalent in the measured
and indicated category,
plus 2.7-million ounces of gold and gold equivalent in the inferred category. Rye Patch Gold 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 gold and silver assets 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 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
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589
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
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