Rye Patch Gold Corp.
OTC Bulletin Board : RPMGF

Rye Patch Gold Corp.

August 19, 2009 11:46 ET

Rye Patch Initiates Wilco and Lincoln Hill Drill Programs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2009) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) ("Rye Patch" or the "Company") is pleased to announce new drilling programs for the Lincoln Hill and Wilco projects scheduled to begin in early September. The Company has secured the service of reverse circulation (RC) drill rigs and a core drill from Boart Longyear. Permitting has been granted on private lands at Wilco and being applied for on public lands at Wilco and Lincoln Hill.

The cost of the phase 1 programs will total $1.25-million (US$1 million) for the two projects with the majority of the funds being directed toward high-grade gold and silver targets on the Lincoln Hill project. The program at Wilco will be focused on the North Basin. The phase 1 programs will start in early September and should be completed by mid-November, and additional programs will follow based on results. An additional $500,000 has been ear-marked for the potential follow-up programs.

At Lincoln Hill, a reverse circulation drill and a core drill will be employed to examine the newly-defined 14 high-grade gold targets. Using a 2 parts per million (ppm) gold cut off, surface rock-chip channel sampling within the high grade zones has returned gold values ranging between 2 ppm and 59 ppm gold. Higher-grade samples represent approximately 10% of the surface rock-chip data. In addition, samples contain significant silver values.

Although the Lincoln Hill drilling is directed toward high-grade gold and silver zones, it will also cut sections of the surface halo mineralisation adjacent to the high grade. The surface halo mineralisation is comprised of a series of stockwork zones covering a large portion of the Lincoln Hill property. The phase 1 program will consist of 2,500 metres (8,000 ft) of RC and 1,000 metres (3,000 ft) of core drilling, and is budgeted at $850,000 (US$680,000).

At Wilco, the program will focus in the North Basin target. Mapping and sampling along the margins of the circular basin has returned gold values ranging between 0.1 ppm to 5.2 ppm gold. At the northern margin of the basin, one area has returned an average of 0.882 ppm gold from 16 surface rock-chip channel samples. This area is approximately 700 metres north of the drillhole WR-087 (38.1m @ 2.61 g/t Au). In addition to gold along the margins, the basin shows a magnetic low in the aeromag data set indicating a potential porphyry beneath the covered circular basin. Drilling will also test this target concept. The program is budgeted at $400,000 (US$320,000) and will consist of 3,000 metres (10,000 ft) of RC drilling.

"We are excited to be back drilling at Lincoln Hill and Wilco. The new targets show potential for high grades and expansion of oxidized mineralisation on these projects. I believe the drilling will prove our target concepts correct and expand the Wilco resource and identify a new gold and silver resource at Lincoln Hill. To date, the Company has delivered gold resources at a robust finding cost of one dollar per ounce of gold and gold equivalents, and I believe our 2009 drill program can continue to deliver exciting results," commented William C. (Bill) Howald, the Company's CEO and President.

As released on May 11, 2009 for the Wilco project and on June 2, 2009 for the Jessup project, Rye Patch Gold's resource inventory has 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
Gold &
Resource Gold Silver Contained Contained Equiv.
Category Tons Grade Grade Gold Silver Ounces
Property (1) (X 1,000) opt opt Ounces Ounces (3)
Wilco(2) Measured 8,296 0.020 0.134 164,000 1,111,000 188,000
Indicated 34,660 0.015 0.105 522,000 3,638,000 600,000
Inferred 134,303 0.012 0.148 1,660,000 19,871,000 2,084,315
Jessup(2) Measured 8,571 0.015 0.255 128,000 2,184,000 161,000
Indicated 13,936 0.012 0.209 172,000 2,906,000 215,000
Inferred 4,954 0.016 0.231 77,000 1,146,000 93,000
Total Measured Resources 292,000 3,295,000 349,000
Total Indicated Resources 694,000 6,544,000 815,000
Total Inferred Resources 1,737,000 21,017,000 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. equals (Ag opt X $Ag/oz) + (Au opt X $Au/oz)/$Au/oz, for Au/oz
equals $750, and Ag/oz equals $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 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 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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