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RYE PATCH GOLD CELEBRATES FIVE YEAR SAFETY MILESTONE AT FLORIDA CANYON

 Vancouver, British Columbia, November 9, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announces the Florida Canyon mine in Nevada has achieved the significant milestone of five continuous years without a lost-time accident.

Rye Patch Gold acquired the Florida Canyon mine in 2016 and began production in the spring of 2017 continuing the safety culture under the leadership of General Manager Mike Iannacchione, PE. “Safety is a cornerstone of success and the team at Florida Canyon has built a magnificent foundation to which Rye Patch can continue to create successful operations,” said President and CEO William Howald.

This summer Florida Canyon was recognized by the Nevada Mining Association with the top safety award in the small mine category.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value‑added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors

William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
investorrelations@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

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.

Download the News Release.

November 9th, 2017|

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON OCTOBER PRODUCTION

  • 9,100 AU OZ placed on pad
  • 2,911 AU OZ produced

Vancouver, British Columbia, November 7, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports that it has completed a record setting month at the Company’s flagship Florida Canyon mine in Pershing County, Nevada.

Production Highlights for the month of October 2017 as compared to the Company’s preliminary economic assessment “plan” (see description below) are:

  • Placed 9,100 ounces of gold on the pad (48 percent above plan);
  • Produced 2,911 ounces of gold and 1,626 ounces of silver;
  • Mined 815,400 tons of ore (35 percent above plan);
  • Crushed 821,100 tons of ore (37 percent above plan);
  • Maintained a grade of 0.011 opt of gold including over liner material; and
  • Achieved a low strip ratio of 0.43 for the month (77 percent below plan).

“The Florida Canyon mine overwhelmingly outperformed its plan in a safe and prudent fashion in October and is successfully showing capacity well above its Q4 production goals. We are benefiting from the larger leach cell size with gold now being produced at increasingly higher rates,” stated William Howald, the Company’s President and CEO.

“Given the gold ounces placed in October,” Mr. Howald added, “the addition of the new 785 haulage trucks planned for November, and the completion of the over liner in early December, the mine is on a positive trend that should continue through Q4.”

“We are on track to achieve commercial production at Florida Canyon in Q1 2018,” he added.

At the end of October, the Company reports $16.5 million in its treasury.

“Plan” refers to the Company’s preliminary economic assessment effective March 16, 2016 and dated January 27, 2017 titled “Amended Technical Report – Preliminary Economic Assessment for the Florida Canyon Mine, Pershing County, Nevada” available on the Company’s website and under the Company’s profile at www.sedar.com.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp.

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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. As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

November 7th, 2017|

RYE PATCH GOLD RENEGOTIATES BONDS, RESULTS IN $6.2 MILLION REFUND

Vancouver, British Columbia, October 30, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports that it has renegotiated the terms for its approximately C$49 million (US$32.4 million) of reclamation bonds for the Company’s flagship Florida Canyon mine and the Standard Mine in the state of Nevada.

Significantly, the new terms result in a material reduction in the portion of the reclamation bond that the Company is required to fund through cash reclamation deposits.  This funding requirement has been reduced from 40 percent of the bond amount to 25 percent, resulting in a cash refund to the Company of approximately C$6.2 million (US$4.9 million).

“As a consequence of reducing the risk profile of the Florida Canyon Mine since acquisition, Rye Patch has been successful in securing a significantly lower cash requirement for its reclamation bonds. In addition to generating a non-dilutive cash in-flow today, it will also reduce that aspect of our sustaining capital going forward,” commented Tony Wood, Chief Financial Officer.

In Nevada, the United States Bureau of Land Management require a company to place reclamation bonds in trust as security relating to a company’s site closure obligation. The obligation is satisfied by a combination of reclamation deposits and reclamation insurance policies.

About Rye Patch Gold Corp.

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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. As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

October 30th, 2017|

RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL

RYE PATCH OUTLINES PROGRAM TO EXPAND OXIDE RESOURCES AND EXPLORE SULFIDE POTENTIAL AT FLORIDA CANYON AND LINCOLN HILL

 Vancouver, British Columbia, October 16, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) outlines a three-year program to expand oxide resource and delineate sulfide potential along the Oreana trend in west-central Nevada.  The program is designed to increase measured and indicated oxide resources at Florida Canyon and Lincoln Hill and quantify and deliver a sulfide resource beneath the Florida Canyon oxide deposit.  A Phase 1 10,000 metre expansion drilling campaign at the Florida Canyon mine is planned which seeks to increase the oxide resource and to test and confirm the grade, character and extent of the sulfide mineralization beneath the oxide ore body.

The initial drill program will consist of 1,200 metres of core and 8,800 metres of reverse circulation drilling.  Drillhole depths will range between 150 to 300 metres for the sulfide program and 60 to 180 metres for the oxide program.  The estimated cost of the phase-1 campaign is US$1 million, and the program commenced in early October.

At the end of the three-year program, Rye Patch anticipates delivering significant additional oxide resources at Florida Canyon and Lincoln Hill, and a sulfide resource beneath the Florida Canyon oxide deposit.  A portion of the sulfide body above the water table may also lend itself to an accelerated mine and processing option for the Company.

William Howald, the Company’s President and CEO noted, “Over the history of the Florida Canyon mine, a total of 3.5-million ounces of gold from oxide material has been placed on the historic leach pad and the Company is currently mining a 1.12-million ounces of measured and indicated oxide gold resource.  Based on our exploration model, Management believes the sulfide resource beneath Florida Canyon has a similar number of ounces of gold but at a much higher grade.  If our exploration model is correct, the combined oxide and sulfide mineralization could make Florida Canyon a world-class deposit in Nevada.”

Sulfide Program

The core program will focus on the sulfide deposit beneath the Florida Canyon oxide resource.  The objective of the drill program is to establish the overall size, extent and thickness of the sulfide body and collect material for additional metallurgical testing.

In 1996, Pegasus Gold completed an internal report titled “Sulfide Project Pre-feasibility Study” dated July 18, 1996 on the sulfide mineralization at Florida Canyon.  A total of 262 drillholes (241 RC and 21 core) touched or penetrated the sulfide body and yielded an average grade of 2.36 g/t gold in the sulfide with gold values as high as 100 g/t Au (2.93 opt Au) in a northeast oriented structural zone.  Pegasus completed a resource estimate within a Whittle pit design at US$400 gold price, and a series of metallurgical tests including floatation, pressure oxidation, roasting, and bio-oxidation.  The metallurgical test work showed an overall recovery of 90% with flotation with 94% of the gold reporting to a sulfide concentrate.  Additional metallurgical test work will be done by Rye Patch on material from the drill program.  A Qualified Person has not done sufficient work to classify this historical information as a current mineral resource or mineral reserve and the Company is not treating this historical information as a current mineral resource or mineral reserve.

The core program will also test the distribution of the sulfide body and validate the current geologic model and high-grade ore controls.  Core holes will be located to test the down dip extension of sulfides between the Radio Tower and Central pits; the down dip extension west of the Main pit; and potential structural zone east of the Radio Tower and Central pit areas.

An additional 2,700 metres of reverse circulation drilling will target the down dip potential and structural controls on the sulfide zone to help validate the geologic model.  The RC program will fill in gaps between historic sulfide drilling programs to see if the mineralization connects between areas which, if positive, could have a dramatic impact on the potential size of the sulfide mineralization.

Oxide Program

The objective of the oxide program is to expand and upgrade the current oxide resource and step out along structural zones.  A total of 5,500 metres of drilling is planned with drillhole depths ranging between 60 and 180 metres.  The program will include upgrading inferred material within the designed pits to measured and indicated adjacent to the Radio Tower and Central pit areas.   A major portion of the program will be step-out drilling along low- and high‑angle structural trends.

The primary drill target is the contact between Grass Valley siltstone and Natchez Pass limestone. The contact is a low-angle fault (thrust fault) which controls mineralization in Radio Tower and Central pits.  The zone is significant within the mine and may represent a regional exploration target.  Drilling will target jasperioid alteration and hydrothermal breccias within the thrust fault zone.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada focused, Tier 1, precious metal mining company engaged in the mining, development and exploration of a 180 square kilometre land package along the prospective Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the Florida Canyon Gold mining operation, Rye Patch now controls a trend‑scale platform with mining operations, resource projects and significant exploration potential. The combination of mining and a growth profile along a major Nevada gold trend positions Rye Patch to become an emerging North American mid-tier precious metal producer. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors For additional information contact:
‘William Howald’ Rye Patch Gold Corp
William C. (Bill) Howald, CEO & President info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future production and deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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, but are not limited to: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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, opinions and assumptions of the Company’s management on the date the statements are made including, but not limited to, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, and mining operations and production to be completed in accordance with management’s expectations.  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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all. 

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.

Download the News Release

October 16th, 2017|

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON MINE PRODUCTION

Vancouver, British Columbia, October 11, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports its production results for the third quarter of 2017 (Q3) at the Company’s flagship Florida Canyon mine in the state of Nevada.

Production Highlights for Q3 (compared to Q2, 2017)

  • Gold production increased 13 percent to 7,982 ounces (ozs);
  • Gold sent to pad increased by 45 percent, averaging 7,125 ozs per month;
  • Ore tons mined increased by 57 percent for the quarter, averaging over 810,000 tons per month (tpm);
  • Strip ratio decreased 56 percent to 0.54;
  • Ore tons crushed increased by 29 percent, averaging over 660,000 tpm;
  • Gold grade increased by 10 percent to 0.011 ounces per ton (opt) (combined ore and sub-grade overliner);
  • Gold ounces placed on the South Heap Leach Pad (SHLP) in Q3 represents 52 percent of the total gold to date; and
  • Production transitioned from the first starter cell (Section 1A) of the SHLP on to the main part of the pad (Section 1B).

“Gold production realized in Q3 was below expectation for the reasons outlined in our September 14th news release” stated Rye Patch President and CEO William C. Howald.  “The corrective measures put in place by management as described in that news release are now having a positive impact on improving gold output with the goal of realizing commercial production in Q1, 2018. Other aspects of the mine are performing well above plan. We are pleased with the improved fleet availability, mining and crushing rates, and the positive reconciliation in grade and tons with the resource block model.  In addition, the gold recovery is behaving as modelled.” added Howald.

Mining, Ore and Overliner Placement

Mining, strip ratio and crusher rates continue to improve and are now consistently outperforming plan. During the period, a 57 percent increase in ore tons mined above plan was achieved, and an overall reduction in waste tons positively affected the strip ratio.

Ore tons crushed also showed a positive increase. The crusher averaged 660,000 tons per month during Q3. This is a 29 percent increase over the plan of 600,000 tons per month.

As outlined in the September 14, 2017, news release, ore and overliner are currently being stacked simultaneously. The operation expects to complete the overliner on section 1B of the SHLP by the middle of December followed by ore stacking only. As each section of overliner is approved, ore is stacked and readied for irrigation.

Chart 1

Gold Ounces Placed on SHLP, Gold Grade, and Gold Dore’ Poured

A combination of the crusher exceeding plan and a gradual increase in combined grade has resulted in an increase of 45percent more ounces being placed on the pad in Q3 compared to Q2.  7,125 gold ounces per month were placed on average for Q3, and year to date, a total of 40,789 ounces have been placed.

Overall grade continues to increase, is up 10 percent this quarter, and will remain steady until the sub ore grade overliner is completed in December. (The overliner material is typically below ore grade as it is selected primarily because it meets strict design criteria as the rock that creates a drain blanket between the ore and the plastic liner.) The overall grade is expected to increase when placement of the overliner on Section 1B is complete.

Chart 2

The transition from the winter contingency pad, Section 1A, to the main part of the SHLP (Section 1B) has meant that we have been able to start building out larger cells, which will in turn lead to higher and more stable monthly recoveries. As a result, over half of all the ounces placed (52 percent) for the year on the SHLP occurred in Q3 (21,376 ounces from 1.98 million tons).

The first of the larger cells was placed under irrigation in mid-September and will begin to yield gold from the first part of its leach curve in October. As more of the larger leach cells are placed through to the end of the year and we begin to experience the layering impact of each cells’ recovery curve, we anticipate that gold ounces and total recoveries will achieve commercial production goals by Q1, 2018.

Chart 3

Gold dore’ production continues to demonstrate a positive upward trend with a quarter on quarter increase of 13 percent. The leach kinetics are showing consistency and tracking with the historical recovery data from the original Florida Canyon heap leach pad.  As discussed above, the transition to the main Section 1B of SHLP will result in higher levels of production and fewer fluctuations month to month.

Chart 4

The spot price of gold during the third quarter ranged from US$1,212.20 on July 7, 2017 to a high of US$1,348.60 on September 7, 2017. The average spot price for the quarter was US$1,277.84. As a result of the Company’s forward sales contract, Rye Patch realized gold sales price of US$1,280.33 for the quarter.

Gold is sold into the forward sales contract when spot gold prices are below US$1,275, and sold in to the spot gold price when gold is above US$1275. The forward sale contract has a 5-year term with 150,000 sold forward. For the quarter, a total of 8,320.43 ounces of gold was delivered into the forward sales contract leaving approximately 130,000 ounces of gold remaining.

Company made its first repayment to Macquarie Bank under the current terms of its Credit Agreement.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

October 11th, 2017|

RYE PATCH GOLD PROVIDES FLORIDA CANYON MINE OPERATIONS UPDATE

Vancouver, British Columbia, September 14, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) provides the following update on operations at the Company’s flagship Florida Canyon mine in the state of Nevada.

  • Mine production in July and August totalled approximately 1.7 million tons, which exceeded budgeted production for those months by 48%;
  • Maintenance issues with haulage trucks have been resolved and all eleven 785-CAT haul trucks were operational during July and August. Availability was 84% in July. All loading equipment is fully operational.  Four 785C-Cat haul trucks are expected to arrive in Q4;
  • Crushed tons exceeded budget by approximately 16% for July and August with a total of approximately 1.36 million tons placed on the leach pad during those months;
  • The grade of material placed on the leach pad was 13% higher for the month of July than predicted and at the predicted grade for August. The transition from the Phase 1A pad to Phase 1B is now complete.
  • Both the acid wash circuit and the regeneration kiln have been online and fully operational since mid-July;
  • The rate of gold recoveries is consistent with modelled recovery curves.

Ounces of gold produced as a proportion of ounces placed on the pad has lagged behind our original projections. This is a timing issue which relates to the placement of over liner material (which is gold-bearing) on the pad and is not an issue of grade or metallurgical recovery.  Over liner is placed in sections as a rolling front ahead of the ore.  Leaching occurs after the ore is placed on the over liner with the levels of overall recovery gradually increasing until the over liner is completely covered with ore.  For the months of July and August, over liner was placed on Phase 1B of the pad while ore was placed and leached only on Phase 1A.   This has resulted in a deferral of ounces recovered by a lag period of 2 to 3 months which pushes out our expectations for commercial levels of recovery to Q1 2018.

“Although the time lag in production of gold ounces is our first bump in the road to what has been a remarkably successful ramp-up, we have made modifications in our planning and execution to speed up the process,” said William Howald, Rye Patch President and CEO. “With mining and crushing outperforming expectations by a significant margin, the production of gold ounces is anticipated to accelerate in the coming months to match the tonnage placed on the leach pad.”

Complete production results for Q3 will be announced by the Company in the first week of October.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. in Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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.

Download the News Release

September 14th, 2017|

RYE PATCH GOLD REPORTS Q2 2017 FINANCIAL RESULTS

Provides Florida Canyon Mine Update

Vancouver, British Columbia, August 24, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce that its financial statements and management’s discussion and analysis for the second quarter (“Q2”) ended June 30, 2017 have been filed with the securities regulatory authorities and are available at www.SEDAR.com and on the Company’s website.

The following update is provided for the Company’s flagship Florida Canyon mine in Nevada. All amounts are shown in U.S. dollar unless otherwise noted.

  • Poured first gold from the new South Heap Leach Pad at the end of April 2017;
  • Completed phase one of the new leach pad with ore stacking on portion 1B ongoing;
  • Stacked 560,000 tons of ore during Q2;
  • Improved strip ratio from 2.80:1 in Q1 to 1.25:1 in Q2;
  • Increased crusher through-put, with crusher out-performing plan by 20 to 40 percent;
  • Improved availability and utilization of the haulage fleet;
  • Increased carbon plant efficiencies after rebuilding kiln and replacing acid wash plant;
  • Mined and processed ore grades within five to 10 percent of modelled tons and grade;
  • Completed leach pad audit which showed gold recovery within one percent of modelled recoveries;
  • Recruited mine operators and technical staff to build workforce to near 100 percent capacity;
  • Sold 100 percent of gold produced into the forward sales contract at $1,275 per ounce of gold, and;
  • Purchased four 785C haulage trucks for $3.67 million, augmenting the current fleet and enabling planned production increases.
  • At the end of the period the Company had cash and cash equivalents of Cdn.$22 million and had drawn down Cdn.$28.9 million of its credit facility.

Rye Patch President and CEO Bill Howald said, “During the quarter we welcomed Mike Iannacchoine as the Florida Canyon mine manager who is leading the team through the final stages of ramp-up into commercial production.”

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value-added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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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August 24th, 2017|

RYE PATCH GOLD INCREASES HAULAGE CAPACITY AT FLORIDA CANYON

Mine Advances Expansion Plans

Vancouver, British Columbia, August 18, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announced today that it has secured financing for the purchase of four additional Caterpillar 785C haul trucks for a total of US $3.67 million dollars, growing the Florida Canyon truck fleet to fifteen.

“This purchase will enable the Company to increase its production by taking advantage of excess capacity at the crusher. The crusher is routinely operating at 20 to 40 percent over plan requirements and is permitted at 60 percent over plan at 1,600 tons per hour, effectively bringing the 2018 expansion forward,” William Howald, Rye Patch CEO commented.

The purchase price will be financed by Caterpillar Finance, consisting of a 20 percent down payment with the balance repayable in equal installments over 48 months bearing annual interest at 6.95 percent. A portion of the $10 million equity raised by the Company in June 2017 will be applied in this purchase consistent with the use of proceeds described in the prospectus.

The trucks are in excellent condition with full service histories and have an average of 30,000 hours on each. Expected delivery will be in early fourth quarter 2017.

About Rye Patch Gold Corp.  

Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend-scale platform with mining operations, resource projects and exploration upside. The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.

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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August 18th, 2017|

RYE PATCH ADDS JOHN MANSANTI TO BOARD OF DIRECTORS APPOINTS MICHAEL IANNACCHIONE FLORIDA CANYON MINE GENERAL MANAGER

Vancouver, British Columbia, July 12, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to welcome Mr. John Mansanti to the Board of Directors, and announces the appointment of Mr. Michael Iannacchione as Mine General Manager of the Florida Canyon mine.

The Company has increased its Board of Directors to five with the addition of Mr. John Mansanti.  Mr. Mansanti has almost 40 years of experience in the management of mining operations and projects. He is recognized for his commitment to safety and achieving results through positive work relationships. In addition to eight years experience in the potash industry, Mr. Mansanti has over 30 years of operations and project management experience in precious and base metals, primarily in Nevada.  John has worked for Barrick, Placer Dome, Getchell Gold, Newmont, Santa Fe Pacific Gold, Gold Fields Operating Company, Freeport McMoRan and Kennecott. His experience spans all levels of site and corporate operations, from exploration through product sales, including project permitting and compliance.

Mr. Mansanti is a graduate of the Montana College of Mineral Science and Technology with degrees in Chemistry and Mineral Processing Engineering.  He has published multiple technical papers and a chapter on potash processing.

Mr. Mansanti is an active member of the Society of Mining, Metallurgy and Exploration (SME) and is the 2017 SME President. While working in Nevada he was also active in the Nevada Mining Association (NMA) and served as the 2006 president of the association. Mr. Mansanti has received multiple awards recognizing his leadership and technical skills.

The Company is very pleased to announce the appointment of Mr. Michael Iannacchione as the new General Manager at the Florida Canyon mine.  Mr. Michael Iannacchione has over 30 years of experience in the mining industry, 25 years of which has been at a management level.  Mike was the Vice President General Manager for General Moly’s Mt. Hope Molybdenum Project, the Operations Manager at Goldcorp’s Marigold Mine, Vice President, and General Manager at the Round Mountain Gold Mine, a joint-venture between Barrick Gold Corporation and Kinross Gold Corporation. In addition to his extensive management experience, Mr. Iannacchione has significant front-line experience in mine operations, mine engineering, and safety in the mining industry

During his career, while Mr. Iannacchione has worked primarily in the gold mining industry, he also has experience in base metal and oil shale projects.

Mike graduated from the University of Nevada, Reno with a Bachelor of Science In Mining Engineering in 1982 and is pursuing an Executive MBA at the University of Notre Dame.  Mr. Iannacchione is a registered professional engineer in the State of Nevada.

Mr Iannacchione replaces John Porterfield who has acted as General Mine Manager on an interim basis since the Company’s acquisition of the Florida Canyon mine.  The Company is very grateful for Mr. Porterfield’s able assistance during the start-up phase of the mine

The Company wishes to thank Mr. John Porterfield for stepping forward and taking the role of Acting Mine General Manager over the last several months.  Mr. Porterfield has done an exemplary job of hiring quality professionals and operators, putting the mine on track and achieving the first gold pour from the new South Heap Leach Pad.  Through his efforts the mine is moving forward toward commercial production.  John will stay at Florida Canyon to transition with Mr. Iannacchione then return to advancing the Lincoln Hill and Wilco projects.

The Company also announces the grant of stock options to Messrs Mansanti and Iannacchione under the Company’s stock option plan and in accordance with the Company’s standard vesting provisions to purchase 800,000 common shares at an exercise price of $0.30 per share for a term of five (5) years.

About Rye Patch Gold Corp.  

Rye Patch Gold Corp. is a Nevada focused, Tier 1, precious metal mining company engaged in the mining, development and exploration of a 180 square kilometre land package along the prospective Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the Florida Canyon Gold mining operation, Rye Patch now controls a trend-scale platform with mining operations, resource projects and significant exploration potential. The combination of mining and a growth profile along a major Nevada gold trend positions Rye Patch to become an emerging North American mid-tier precious metal producer. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

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.

Download the News Release

July 12th, 2017|

RYE PATCH REPORTS MONTHLY GOLD PRODUCTION

Florida Canyon Mine On-Track for Q3

Vancouver, British Columbia, July 10, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports June and second quarter production results for the Florida Canyon mining operation.

Gold production began from the new South Heap Leach Pad of the Florida Canyon Mine in April 2017. The new pad has completed its first full cycle of leaching of 45 days.  Secondary leaching and new placement of ore is continuing on the Phase 1A portion of the pad.  Since April, a total of 12,678 ounces of gold and silver dore have been poured.  The dore is comprised of 7,075 ounces of gold and 5,603 ounces of silver.

William Howald, Rye Patch President and CEO, said, “We continue to successfully ramp-up mine operations, and the team is pleased with progress through the end of the second quarter.  Gold production in the second quarter exceeded the ramp-up plan by more than 1,500 ounces of gold and the mine is on track for third quarter 2017 commercial production.”

Welsh-Hagen Associates of Reno, Nevada completed an audit of the leach pad, and compared its operational performance to the expected leach recovery model.  Based on the audit, the new leach pad is performing in line with the leach curve model and recovered gold ounces are within 1 percent of the projected gold production.  Production of 5,567 ounces of gold was projected for the first three months of leaching compared to 7,075 ounces of gold actually achieved between April 12 and June 30.  The better-than-expected gold production results from more tons being placed on the leach pad between January and March.

June gold production was above plan but below expectations as a result of the acid wash circuit being off-line most of June to replace a cracked wash vessel.  The new vessel has arrived and is being installed. Work on the regeneration kiln was also completed in June.  The result of these two items being off-line was a decrease in efficiency of the carbon plant to attract the gold thus decreasing gold production.  Both circuits will be back on-line in July.

Mining achieved 85 percent of its budgeted ore tons in the second quarter with the bulk of the ore coming from the Jasperoid pit. In June, a total of 693,434 tons (633,395 tonnes) of ore was mined compared to 575,477 tons (523,160 tonnes) budgeted.  The increase in ore tonnage resulted from the Jasperoid pit being ore bound on the 5440 and 5420 benches.  This has allowed for the mining fleet to begin accessing the second pit.  Starting in July, the mine will have two sources of ore – Central and Jasperoid pits.

Fleet availability has improved dramatically over the second quarter.  At the end of June, all 11 785 CAT haul trucks were operational.  Two haul trucks were down for most of June as a result of major required component replacement.  All other haulage and loading equipment was down for routine preventive maintenance.  Loaders had a 94 percent availability and 785 haul trucks improved to 79 percent availability.  An increase in 785-haul truck availability is expected to continue going forward.

The crusher continues to outperform its design specifications.  Under the current plan, the crusher is required to crush 1,100 tons (1,000 tonnes) per hour.  It is currently exceeding this limit and is permitted to crush up to 1,600 (1455 tonnes) tons per hour.  Additional 785 haul trucks are being sourced and an increase to the crusher air quality permit is being prepared.  The resulting increase in crusher capacity and through put could have a substantial positive impact on future annual gold production.

With the end of the second quarter, Rye Patch will release production results, activities and cost information for the Florida Canyon mine in the future on a quarterly basis in-line with the Company’s financial reporting.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President with a BSc. In Geological Engineering, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Rye Patch Gold Corp.  

Rye Patch Gold Corp. is a Nevada focused, Tier 1, precious metal mining company engaged in the mining, development and exploration of a 180 square kilometre land package along the prospective Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the Florida Canyon Gold mining operation, Rye Patch now controls a trend-scale platform with mining operations, resource projects and significant exploration potential. The combination of mining and a growth profile along a major Nevada gold trend positions Rye Patch to become an emerging North American mid-tier precious metal producer. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors‘William Howald’

William C. (Bill) Howald, CEO & President

For additional information contact:
Rye Patch Gold Corp
info@ryepatchgold.com
Tel.: (604) 638-1588
Fax: (604) 638-1589

Forward-Looking Statements

This news release contains forward-looking statements relating to future plans and objectives of the Company, future production and deliveries of gold, proposed operations of the Company including mine development, funding requirements, future events and conditions and other statements that are not historical facts, all of 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, but are not limited to: future deliveries of gold pursuant to the forward gold price contract facility, the achievement of mine redevelopment plans and production results; the availability of funds; the financial position of Rye Patch; the timing and content of work programs; the results of exploration activities and development of mineral properties; the interpretation of drilling results and other geological data; the reliability of calculation of mineral resources; the reliability of calculation of precious metal recoveries; the 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, opinions and assumptions of the Company’s management on the date the statements are made including, but not limited to, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, and mining operations and production to be completed in accordance with management’s expectations.  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.  As a result, the Company cannot guarantee that the drawdowns under the Credit Facility and the Florida Canyon mine redevelopment will be completed on the terms and within the time disclosed herein or at all.  

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.

July 10th, 2017|