Rye Patch Gold Corp.

Rye Patch Gold Corp.

June 30, 2011 17:00 ET

Rye Patch Gold Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2011) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCQX:RPMGF) ("Rye Patch" or the "Company") announces the appointment of Mr. Joe Kajszo as Chief Financial Officer of the Company. Mr. Kajszo is the Chairman and will assume the added responsibility of CFO, replacing Mr. Mark T. Brown. The change will occur starting on July 1, 2011. Mr. Brown is leaving the Company to pursue other opportunities. Mr. Bill Howald commented: "I would like to thank Mark for all of his contributions and support since the Company's inception. All of us at Rye Patch wish him much success and the very best in his future endeavours."

Rye Patch also announces that it has retained the services of O&M Partners, LLC ("O&M") of New York, to act as a consultant for a one-year term. O&M will introduce management of the Company to their extensive network of institutional investors, independent money managers and market makers across the United States and in select European and U.K cities. In consideration of O&M's services, Rye Patch will pay a fee of USD 5,000 (five thousand US dollars) for each day that O&M provides the Company with introductory meetings up to a maximum of USD 50,000 for the term of the engagement. Subject to TSX Venture Exchange approval, the Company will grant an option to O&M to purchase 150,000 common shares of Rye Patch at an exercise price of $0.45 per share for a term of one year.

For the past eight years, O&M has been a leading firm in introducing senior management of mining companies to both specialist and generalist institutional investors. The President of O&M is David Mandy. Other than the aforementioned grant of the stock option, none of O&M and/or David Mandy owns any securities of, or holds any interest in, Rye Patch Gold Corp., or has any right or intent to acquire any securities of, or interest in the Company.

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 its primary assets – the advanced-stage Wilco, Lincoln Hill, Jessup, and Gold Ridge projects located along the emerging Oreana gold trend in west-central 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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