Rye Patch Gold Corp.
TSX VENTURE : RPM
TSX VENTURE : RPM.WT

Rye Patch Gold Corp.

May 12, 2008 09:00 ET

Rye Patch Gold Outlines Oxide Characteristics of Wilco Resource

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2008) - Rye Patch Gold Corp (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT) ("Rye Patch" or the "Company") reports that 90% of the gold ounces in the Wilco measured and indicated resource fall within the oxide domain as geologically defined by pervasive and fracture filled red and yellow colored staining associated with hematite and limonite - the oxide products of sulphide minerals. Although additional detailed, industry-standard metallurgical testing is required to properly define metallurgical oxide and sulphide domains, a summary of geologically defined domains, by deposit area, is tabulated below for the measured and indicated portion of the Wilco resource.



Table 1: Oxide/Sulphide Breakdown of Wilco NI43-101 Measured and Indicated
Resource
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Resource Category
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Measured Indicated
Wilco Cutoff ------------------------------------------------
Resource Redox Grade Tons Grade Gold Tons Grade Gold
Areas Domain OPT Au (X1,000) OPT Au Ounces (X1,000) OPT Au Ounces
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Willard Oxide 0.0056 4,282 0.019 79,942 13,011 0.016 201,965
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Sulphide 0.0420 106 0.063 6,701 342 0.055 18,840
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Colado Oxide 0.0056 3,545 0.014 48,998 19,161 0.012 230,039
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Sulphide 0.0420 158 0.070 11,060 436 0.070 27,972
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Total 8,091 0.018 146,701 32,950 0.015 478,816
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In addition, a refined Wilco Project resource estimate yielded more gold ounces in the measured and indicated category for the Willard deposit over the April 30, 2008, disclosed resource. The increase in the measured and indicated category of 92,000 ounces of gold and a decrease in the inferred resource of 187,000 ounces of gold is the result of a refined oxide/sulphide geologic model that upgraded a portion of the inferred resource to the measured and indicated category. As a result, the Wilco project now has 625,517 ounces of gold in the measured and indicated category and 1,124,776 ounces of gold in the inferred category.



Table 2: Updated NI43-101 Refined Wilco Resource Estimate
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Resource Category
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Measured Indicated
Wilco ---------------------------------------------------
Resource Cutoff Tons Grade Gold Tons Grade Gold
Areas Grade (X1,000) OPT Au Ounces (X1,000) OPT Au Ounces
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Willard Variable(1) 4,388 0.020 86,643 13,353 0.017 220,805
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Colado Variable(1) 3,703 0.016 60,058 19,597 0.013 258,011
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Total 8,091 0.018 146,701 32,950 0.015 478,816
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Resource Category
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Inferred
Wilco --------------------------
Resource Cutoff Tons Grade Gold
Areas Grade (X1,000) OPT Au Ounces
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Willard Variable(1) 20,849 0.015 313,323
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Colado Variable(1) 79,129 0.010 811,453
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Total 99,978 0.011 1,124,776
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(1) 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.


This improved resource estimate represents an increase of 146,700 ounces of gold in the measured category and a 100% increase in the ounces of gold reporting to the indicated category over the September 6, 2007, Wilco resource estimate. Table 2 summarizes the adjusted Wilco resource estimate using the same estimation parameters described in the Company's April 30, 2008, press release.

Scott E. Wilson Consulting, Inc. (SEWC) of Denver, Colorado, completed the updated resource estimate under the direction of Scott E. Wilson, who is a qualified person as defined by NI43-101. The NI43-101 Wilco project technical report will be posted on SEDAR at www.sedar.com on or before June 1, 2008.

As released on the Company's Jessup project (December 11, 2007) along with the revised Wilco resource estimate, Rye Patch Gold now controls 779,517 ounces of gold in the measured and indicated category plus 1,151,776 ounces of gold in the inferred category. Table 3 summarizes the resources for Rye Patch Gold's Wilco and Jessup projects.



Table 3: Rye Patch Gold NI43-101 Resources
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Resource Category
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Measured Indicated
---------------------------------------------------
Cutoff Tons Grade Gold Tons Grade Gold
Project Grade (X1,000) OPT Au Ounces (X1,000) OPT Au Ounces
--------------------------------------------------------------------------
Wilco Variable(2) 8,091 0.018 146,701 32,950 0.015 478,816
--------------------------------------------------------------------------
Jessup(4) Variable(3) 0 0 0 5,423 0.022 154,000
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Total 8,091 0.018 146,701 38,373 0.016 632,816
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--------------------------------------------------------------------------
Resource Category
----------------------------------------------------------------
Inferred
--------------------------
Cutoff Tons Grade Gold
Project Grade (X1,000) OPT Au Ounces
--------------------------------------------------------------------------
Wilco Variable(2) 99,978 0.011 1,124,776
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Jessup(4) Variable(3) 1,265 0.017 27,000
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Total 101,243 0.011 1,151,776
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(2) 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.
(3) Jessup 0.01 oz Au/t for oxide mineralisation, 0.015 oz Au/t for mixed
material, and 0.025 oz Au/ton for all unoxidised material;
(4) Jessup Resource includes Au equivalent ounces
(50g/t Ag equals 1g/t Au).


Drilling on the Wilco project will commence this summer with one reverse circulation drill rig. An exploration program totaling US$750,000 and consisting of 8,000 metres of drilling is planned and currently being permitted.

In addition to the Company's Wilco project, Rye Patch is planning and permitting drill programs on its 100% owned Jessup and Lincoln Hill/Gold Ridge properties. These programs will commence immediately following the completion of the Wilco drill program scheduled for June 2008.

Mr. William C. (Bill) Howald, AIPG, Certified Professional Geologist # 11041, Rye Patch Gold's CEO and President, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program. He has verified the information and has reviewed and approved the contents of this news release.

Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company building a sizeable inventory of gold 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 projects. Rye Patch Gold is developing its primary assets - the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and the Jessup project in Churchill County, Nevada. The Company is seeking gold opportunities that continue to create shareholder value and leverage the gold price. 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

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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