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Rye
Patch Gold Added To S&P/Tsx-V Index
Vancouver, British
Columbia, January 16, 2012 - Rye Patch Gold Corp (TSX.V: RPM; OTCQX: RPMGF) ("Rye
Patch" or the "Company")is pleased
to announce that the
Standard & Poor's Canadian index operations have made index changes as a result of the quarterly
S&P/TSX Preferred Share
Index and S&P/TSX Venture Select Index reviews.
Rye Patch will now be included in the
S&P/TSX-V index effective at the open on Monday, Jan. 23, 2012.
"Being included
in the index is another example in the continuing growth and development of Rye
Patch Gold." stated Joe Kajszo, Chairman of RPM.
As announced on May 18, 2010, May 11, 2009, and June 2, 2009, in respect of the Lincoln Hill, Wilco, and Jessup projects, Rye Patch Gold's resource inventory along the Oreana trend now totals 1,182,780 ounces of gold and gold equivalent
in the measured and indicated
category plus 2,727,100 ounces
of gold and gold equivalent in the inferred category. Table 1 summarizes Rye Patch Gold's precious metal inventory in Nevada, USA excluding
any resources within the LH claims.
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Table
1: Rye Patch Gold's NI43-101 Resource Inventory(1)
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Property
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Resource
Category
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Tonnes (X 1,000)
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Gold Grade (g/t)
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Silver Grade (g/t)
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Contained Gold Ounces
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Contained Silver Ounces
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Contained Gold&Gold
Equivalent Ounces (4)
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Wilco (2)
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Measured
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7,526
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0.69
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4.595
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164,000
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1,111,000
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186,220
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Indicated
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30,844
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0.51
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3.601
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522,000
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3,638,000
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594,760
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Inferred
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121,838
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0.41
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5.075
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1,660,000
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19,871,000
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2,057,420
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Jessup(2)
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Measured
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7,775
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0.51
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8.745
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128,000
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2,184,000
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171,680
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Indicated
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12,642
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0.41
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7.167
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172,000
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2,906,000
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230,120
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Inferred
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4,494
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0.55
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7.922
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77,000
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1,146,000
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99,920
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Lincoln Hill(3)
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Measured
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-
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-
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-
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-
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-
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-
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Indicated
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-
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-
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-
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-
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-
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-
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Inferred
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17,215
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0.69
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17.143
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380,000
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9,488,000
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569,760
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Total Oreana Trend Measured & Indicated Resources
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986,000
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9,839,000
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1,182,780
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Total Oreana Trend Inferred Resources
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2,117,000
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30,505,000
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2,727,100
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(1) All resources on 100% basis. Metallurgical recoveries and
net smelter returns are
assumed to be 100%. Conforms to 43-101 resource definitions;
(2) Cutoff grade for Wilco
Measured and Indicated resource is reported at 0.2 g/t Au for oxide mineralisation and 1.45
g/t Au for sulphidemineralisation. The Inferred resource cut-off grade is reported at 0.2 g/t 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 0.2 g/t Au for oxide mineralisation and 0.34 g/t Au for transition and sulphidemineralisation; and
(3) The Inferred resource
is reported at a cut-off grade of 0.34
g/t (0.01 opt) Aueq for
oxide and transitional
ore types;
(4) Wilco, Jessup and
Lincoln Hill resources includes
Au equivalent ounces (Aueq.); where Aueq. = (Au ozs) + (Ag ozsX $Ag/oz)/$Au/oz, for Au/oz = $1,200, and Ag/oz =
$24.
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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 (see Rye Patch's news releases dated May
18, 2010, May 11, 2009, and June 2, 2009). Between October 27 and November 21, 2011, Rye Patch Gold staked
claims covering the Rochester Silver
Mine. According to Coeur
d'Alene Mine's December 5, 2011 news release, Rye Patch Gold has acquired 20% of the Rochester's
proven and probable reserve
and a substantial portion of the measured and indicated resources.
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 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 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 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.
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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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