Rye Patch Gold Corp.
OTC Bulletin Board : RPMGF

Rye Patch Gold Corp.

April 08, 2010 16:30 ET

Rye Patch Gold Corp. Announces Termination of Agreement to Acquire Centerra Gold (U.S.) Inc.'s Ren Joint Venture Interest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2010) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCBB:RPMGF) ("Rye Patch Gold") announces that it received notice today that Homestake Mining Company of California ("Homestake") has exercised its pre-emptive right to acquire from Centerra Gold (U.S.) Inc. ("Centerra"), all of Centerra's participating interest in the Ren joint venture property (the "Centerra Interest"). Rye Patch Gold had entered into an agreement to purchase the Centerra Interest conditional upon Homestake's waiver of its pre-emptive right (see Rye Patch Gold's News Release dated February 10, 2010). As a result of Homestake's election to purchase the Centerra Interest, Rye Patch Gold's agreement with Centerra will terminate and Rye Patch Gold is entitled to receive a break fee of US$250,000 from Centerra upon completion of Homestake's acquisition of the Centerra Interest.

About Rye Patch Gold

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, Lincoln Hill and 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

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.

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