Rye Patch Gold Corp.
TSX VENTURE : RPM
TSX VENTURE : RPM.WT
OTC Bulletin Board : RPMGF

Rye Patch Gold Corp.

May 11, 2009 09:00 ET

Rye Patch Revises April 8, 2009 News Release; Files Wilco Updated Technical Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) ("Rye Patch" or the "Company") has now filed a 43-101 Technical Report supporting the updated mineral resource estimate for the Wilco project, Pershing County, Nevada. The report is available at www.sedar.com.

While finalizing the Wilco technical report, an error was noted in the Company's news release of April 8, 2009 for the inferred silver resource in the Colado resource area. The revised inferred silver resource should have stated 12,193,000 ounces, not 6,386,000 ounces as disclosed in the April 8th announcement. The reported tonnes remain the same; however, the average grade has increased from 0.111 opt Ag to 0.148 opt Ag. This adjustment also modifies the gold and gold equivalent inferred resource from 1,980,000 ounces of Aueq to 2,084,315 ounces of Aueq. No adjustments were made to the reported gold resource estimate. A summary is tabulated below:



Table 1: NI43-101 Wilco Gold Resource Estimate
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Resource Category
----------------------------------------------------------------
Measured Indicated
-------------------------- --------------------------
Wilco Grade Grade
Resource Cutoff Tons OPT Gold Tons OPT Gold
Areas Grade (X1,000) Au Ounces (X1,000) Au Ounces
---------------------------------------------------------------------------
Willard Variable(1) 4,593 0.023 104,000 15,063 0.018 264,000
---------------------------------------------------------------------------
Colado Variable(1) 3,703 0.016 60,000 19,597 0.013 258,000
---------------------------------------------------------------------------
Total 8,296 0.020 164,000 34,660 0.015 522,000
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------------------------------------------------
Resource Category
-------------------------------------
Inferred
--------------------------
Wilco Grade
Resource Cutoff Tons OPT Gold
Areas Grade (X1,000) Au Ounces
------------------------------------------------
Willard Variable(1) 55,174 0.015 849,000
------------------------------------------------
Colado Variable(1) 79,129 0.010 811,000
------------------------------------------------
Total 134,303 0.012 1,660,000
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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.


Table 2: Revised NI43-101 Wilco Co-Product Silver Resource Estimate
---------------------------------------------------------------------------
Resource Category
----------------------------------------------------------------
Measured Indicated
-------------------------- --------------------------
Wilco Grade Grade
Resource Cutoff Tons OPT Silver Tons OPT Silver
Areas Grade (X1,000) Ag Ounces (X1,000) Ag Ounces
---------------------------------------------------------------------------
Willard Variable(1) 4,593 0.180 829,000 15,063 0.152 2,295,000
---------------------------------------------------------------------------
Colado Variable(1) 3,703 0.076 282,000 19,597 0.069 1,343,000
---------------------------------------------------------------------------
Total 8,296 0.134 1,111,000 34,660 0.105 3,638,000
---------------------------------------------------------------------------

-------------------------------------------------
Resource Category
--------------------------------------
Inferred
---------------------------
Wilco Grade
Resource Cutoff Tons OPT Silver
Areas Grade (X1,000) Ag Ounces
-------------------------------------------------
Willard Variable(1) 55,174 0.139 7,678,000
-------------------------------------------------
Colado Variable(1) 79,129 0.154 12,193,000
-------------------------------------------------
Total 134,303 0.148 19,871,000
-------------------------------------------------

(1) The silver tons and grade represent co-product silver within the gold
block model of the resource estimate.


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

Drill plans and permits are being completed for a follow-up drilling campaign commencing this summer. The exploration program will focus on expanding the newly identified North Basin target and follow-up drilling on the near-surface oxide zones. The Willard and Colado deposits are open along strike and at depth. Oxide mineralization starts at the surface in the Colado deposit and at 10 metres in the Willard deposit, and is open to the west and north in these deposits.

As announced today on the Company's Wilco project, and at the Jessup project announced on December 11, 2007, Rye Patch Gold resources now consist of 943,000 ounces of gold and gold equivalent in the measured and indicated category plus 2,112,315 ounces of gold and gold equivalent in the inferred category. The table below summarizes the resources for Rye Patch Gold's advance-stage projects.



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Table 3: Rye Patch Gold's NI43-101 Resource Inventory
----------------------------------------------------------------------------
Contained
Gold &
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 Measured 8,296 0.020 0.134 164,000 1,111,000 188,000
(2) 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 Measured 0 0 0 0 0 0
(2) Indicated 5,423 0.022 0.31 120,000 1,655,000 155,000
Inferred 1,265 0.017 0.23 22,000 286,000 28,000
----------------------------------------------------------------------------
Total Measured Resources 164,000 1,111,000 188,000
Total Indicated Resources 642,000 5,293,000 755,000
Total Inferred Resources 1,682,000 20,157,000 2,112,315

----------------------------------------------------------------------------

(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
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;
(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 maintains a strict quality control program at all of its projects. Drill samples are picked up on site by ALS Chemex's preparation and analytical facility located in Nevada. Gold analyses are conducted on 1-assay ton prepped samples with gold determined using industry standard fire assay methods, with an atomic absorption finish. Gold over limits are determined using fire assay with a gravimetric finish. Silver is analyzed using ICP-MS with silver over limits determined using aqua-regia digestion with an ICP-AES or AAS finish. Gold and Silver check assays were delivered to Florin Analytical Services LLC of Reno, Nevada. The check assay program repeated gold and silver determinations for approximately 5-percent of the 2007 and 2008 drill programs.

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 Humboldt 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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