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Rye Patch Gold Loads Leach Pad At Florida Canyon

Nevada mining operations continue on schedule and budget

Vancouver, British Columbia, January 5, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce that within four months of commencement of the Florida Canyon Restart Project in Nevada, Rye Patch has achieved a major milestone of loading oxide material onto the South Heap Leach Pad Expansion.

“The Florida Canyon team has worked to achieve this transformational milestone with great enthusiasm,” William C. Howald, Rye Patch’s President and CEO, said. “The Project was completed in just four months and has placed the Company on the verge of becoming Nevada’s next gold producer.”

The Florida Canyon Restart Project consisted of three key elements: refurbishing the mining fleet, moving the crusher and building the new leach pad.

The December purchase of an additional Caterpillar 993K loader completes the mining fleet. The fleet now consists of three loaders, eleven 150-ton haul trucks and five 100-ton haul trucks.

Mining commenced from the Jasperoid Hill deposit on November 1, 2016, and oxide material has been stockpiled adjacent to the crusher. With the crusher fully operational as of December 24, 2016, material is now being placed on the lower one-third portion of the phase one cell of the new leach pad. To date, approximately 45,500 tonnes have been placed on the pad.

“The crusher expansion and move concluded with the delivery of the lime silo in December,” Howald said. “With this last piece of equipment, the crusher is now fully operational.”

The projected ramp-up to 600,000 tons per month production (545,000 tonnes per month) is on track for April 2017. The first gold pour from the new leach pad is projected to occur in February, ensuring timely delivery in accordance with Company projections.

Howald added, “While spot gold prices remain soft, the Company has the benefit of selling 100% of its sales into its hedge contract price of USD $1,276 per ounce, providing stability during the start-up and initial stages of production.”

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch’s CEO and President, 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 operations, replacement assets and exploration upside. The combination of operations and exploration concentrated 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, 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: the requirement of the Company to satisfy the conditions for drawdowns in the credit agreement entered into with Macquarie Bank Limited (“Credit 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.

January 5th, 2017|

Rye Patch Gold Announces Appointment of New Director

Vancouver, British Columbia, December 14, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce the appointment of Tim Baker to the Board of Directors of the Company as an independent director.

Mr. Baker has over 35 years’ experience with mining companies in management and operations, which he attained through his various management positions at globally focused mid-tier and senior mining companies.

“Tim is a welcome addition to our Board of Directors,” said William C. Howald, CEO and President of Rye Patch. “His extensive experience in management and operations with producing mining companies will be invaluable as we move the Company into commercial production at Florida Canyon. Tim’s background and depth of experience with Boards of Directors of publicly-traded companies will also be of benefit as the Company moves to enhance its corporate governance processes.”

Tim Baker is currently Chairman of the Board of Golden Star Resources, and a director on the Antofagasta PLC and Sherritt International boards.  He was previously Executive Vice-President and Chief Operating Officer at Kinross Gold Corp.  Prior to joining Kinross in 2006, Mr. Baker was Executive General Manager of Placer Dome Chile.  He has previously managed mining operations in Chile, Tanzania, Venezuela and the USA, and held production and geological roles in Kenya, Liberia and Canada.

Tim has a B.Sc. in Geology from Edinburgh University and is a member of the Institute of Corporate Directors.

The Company has granted 300,000 common shares at an exercise price of $0.30 per share to Mr. Baker for a term of ten years.  The options will vest over 2 years, with 25% vesting 6 months following the grant date and a further 25% every 6 months thereafter.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes.  The team is 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.  Benefitting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine.  The Company now controls a trend-scale platform with operations, replacement assets and exploration upside.   The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential.  For more information about the Company, 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.

December 14th, 2016|

Rye Patch Gold – Progress Continues On-Track at Florida Canyon Mine

Vancouver, British Columbia, November 23, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to provide an update on the Florida Canyon restart project.

The project continues on track and as of mid-November the project has achieved 70% completion, highlights:

  • The crusher move is complete and all long lead items have arrived;
  • Stock-piling of ore has commenced;
  • Pregnant and barren ponds are complete;
  • Plastic liner is rolling across the lower 1/3 of the leach pad;
  • First and second drawdown of credit facility achieved; and
  • Project is on budget and is fully funded.

Download Full News Release

November 23rd, 2016|

Rye Patch Provides Corporate Update

Vancouver, British Columbia, November 18, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) wishes to announce the resignation of Randy Buffington from the Board of Directors.  The Company thanks Mr. Buffington for his services to the Company and in particular, for his tremendous efforts and support in the Company’s successful acquisition of the Florida Canyon mine this past summer.

The Company expects to fill the vacancy on the Board arising from Mr. Buffington’s resignation shortly.

About Rye Patch Gold Corp. 

Rye Patch Gold Corp. is a Nevada based, Tier 1, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes.  The team is 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.  Benefitting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine.  The Company now controls a trend-scale platform with operations, replacement assets and exploration upside.   The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential.  For more information about the Company, 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.

November 18th, 2016|

Rye Patch Provides an Update on the Florida Canyon Mine Re-start

Vancouver, British Columbia, September 27, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to provide an update of the ongoing activities at the Florida Canyon mine.  Overall, the critical path to restart is on schedule and on budget for completion in Q4 of 2016.  The 3 critical items to re-start are: 1) building the new phase-1 leach pad, 2) moving the crusher, and 3) refurbishing the fleet.

Building the new phase-1 leach pad
The construction of the phase-1 leach pad is currently on schedule and under its $8mm budget.

On August 25th coarse earthwork started on pad and associated ponds.  Currently 75% complete, the clay under liner is being manufactured on site, while plastic liner for the ponds and pad will be rolled out in October.

The pad is 100 acres (405,000 square metres) in surface area and, along with the ponds and piping, will be completed with ore anticipated to be placed on the pad by the end of November 2016.

Moving the crusher
The crusher relocation project is ahead of schedule and on target for its $2mm budget.

The crusher is being moved from the Standard mine approximately 8km (5miles) northward to the Florida Canyon lay down yard; coarse earthwork at the crusher site is almost complete, and the foundation work has started.  A concrete foundation will be poured at the end of September; the crusher will be mounted to the foundation and should be operational by approximately mid‑October.  Stockpiling and crushing of over liner and ore will commence at the end of October.

Refurbishing the fleet
The fleet maintenance is ahead of schedule and under its $3mm budget.

One loader and 4 trucks currently remain to be refurbished.  The full complement of the fleet is three (3) loaders, twelve (12) 785 Cat haul trucks, five (5) 777 Cat haul trucks, two (2) water trucks and one (1) grader.

Pouring Gold
The Florida Canyon restart is on schedule to produce gold from the new leach pad facility in late 2016 and to ramp up toward full production in Q1 2017.  Manpower ramp-up is also in progress, with the full complement of staff to be on site in late 2016 – early 2017.

Florida Canyon Mining Inc. continues to produce and sell gold from the existing leach pads at the Standard and Florida Canyon mines, with the revenue from the gold sales contributing to Florida Canyon re-start costs.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President, 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, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes.  The team is 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.  Benefitting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine.  The Company now controls a trend-scale platform with operations, replacement assets and exploration upside.   The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential.  For more information about the Company, 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, proposed operations of the Company including mine development, 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: the requirement of the Company to satisfy the conditions for drawdowns in the credit agreement entered into with Macquarie Bank Limited (“Credit 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.

September 27th, 2016|

Rye Patch Wins Reclamation Award at Florida Canyon Mine

Vancouver, British Columbia, September 13, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce that Rye Patch Mining US Inc., a wholly owned subsidiary, has been awarded The Nevada Excellence in Mine Reclamation for its reclamation work at the Standard mine site on the Florida Canyon mine property. The award recognizes the reclamation design and planning at the Standard mine’s north waste rock storage facility (NWRSF). After the North pit was mined out, the surrounding pits were started and mined concurrently. The NWRSF was used as a primary waste rock facility until it reached its current height in 2015. By filling the NWRSF to the planned height, the sides were sloped to 3:1 or to match surrounding topography, and the reclamation was completed in July 2016.

William Howald, the Company’s President and CEO, stated, “The Company is honoured to win this prestigious award, and it demonstrates Florida Canyon’s commitment to our shared values of safety, environmental stewardship, and investment in talent. We would also like to congratulate the other award winners, Newmont Mining Corporation and Jerritt Canyon Gold. Because mining is a significant economic driver to the state, it is imperative that mining constantly improve its ability to restore the land when finished.”

The nominating entities are the U.S. Bureau of Land Management; U.S. Forest Service; Nevada Division of Minerals; Nevada Division of Environmental Protection; and Nevada Division of Wildlife. The selection committee consists of members from the U.S. Bureau of Land Management with representatives from the Nevada State Office; U.S. Forest Service; Nevada Division of Minerals; Nevada Division of Environmental Protection; and Nevada Division of Wildlife.

The awards recognize miners in the state of Nevada who are doing an outstanding job of reclaiming areas disturbed by mining and exploration activities. The awards promote competition amongst mining companies to design, incorporate and complete sound reclamation plans that incorporate new and innovative ideas, raise industry standards, and increase public awareness of the positive aspects of mining.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President, 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, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes. The team is 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. Benefiting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine. The Company now controls a trend-scale platform with operations, replacement assets and exploration upside. The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential. For more information about the Company, 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

This news release contains forward-looking statements relating to future plans and objectives of the Company, proposed operations of the Company including mine development, 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: the failure of the Company to satisfy the conditions in the credit agreement entered into with Macquarie Bank Limited (“Credit Facility”), 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 Credit Facility and related transactions 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.

September 13th, 2016|

Rye Patch Breaks Ground on the New Florida Canyon Mine Heap Leach

Vancouver, British Columbia, August 29, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce that construction of the new South Heap Leach facility has started at the Florida Canyon mine located in Pershing County, Nevada.  The Company completed the acquisition of the Florida Canyon mine on July 28, 2016.  Since the purchase, the Florida Canyon mine has crushed the under-liner material for the South Heap Leach facility; prepared the primary crusher for the move from the Standard Gold mine located 6 kilometres to the south to its new home adjacent to the South Heap Leach facility; completed maintenance on the mining fleet; and is now breaking ground for the ponds and pad of the South Heap Leach facility.

The Florida Canyon gold mine is fully permitted, has been in continuous production since 1986 and is currently producing gold from its existing leach pad facilities at Florida Canyon and Standard Gold.  The Company is restarting the Florida Canyon mine, which includes the new heap leach pad and a new waste storage facility.  Mining will be from four areas within the existing pit and constitutes a planned layback of the Florida Canyon gold deposit.  A total of 63.81Mtons (58Mtonnes) of ore is planned to be mined over an 8-year period.  An estimated average recovery of 71.1% would yield 602,000 ounces of gold over the life of mine.  Rye Patch expects Initial production from the South Heap Leach facility to occur in the fourth quarter of 2016 and anticipates achieving commercial production from the new leach pad by the second quarter of 2017.

William Howald, the Company’s President and CEO, stated, “The Company has embarked on a transformational journey to become Nevada’s next new gold producer. We are creating a new and exciting company with anticipated initial annual production of 75,000 ounces gold expected to begin in early 2017.  With an ore body that shows great potential to expand the existing Measured and Indicated Resource of 1.1 million ounces of gold, Florida Canyon provides Rye Patch with a solid foundation from which to grow and significant exploration upside along a trend that has been ignored for the past 30 years.  As history has shown, the players with a large land position along a major gold trend have a significant advantage and opportunity to grow a formidable mining company. ”

As announced by news release dated May 25, 2016, and filed on SEDAR July 8, 2016, Mine Development Associates (“MDA”) completed a Preliminary Economic Assessment (the “PEA”) for the Florida Canyon gold mine titled “Technical Report – Preliminary Economic Assessment for the Florida Canyon Mine, Pershing County, Nevada USA” effective March  16, 2016, dated April 18, 2016 and revised June 22, 2016. The PEA was completed based on a US$1,000 per ounce gold price for the first two years and a US$1,150 per ounce gold price for the remaining life of mine.

PEA and Florida Canyon mine Highlights:

  • Average production of approximately 75,000 ounces of gold per year for 8 years;
  • US$1,000 per ounce of Au for years 1 to 2 and US$1,150 per ounce of Au used after year 2;
  • Pre-tax NPV (7.5%) of US$65.43 million, with a 41.5% IRR;
  • Cash cost per gold ounce is calculated at US$759 per ounce;
  • Fully permitted expansion;
  • 1,126,600 ounces of gold in the measured and indicated category;
  • US$27 million Credit Facility;
  • Significant potential synergies with existing Oreana trend resource assets; and
  • Tremendous exploration and further development potential.
Table 1: PEA Sensitivity Analysis (AFTER TAX)
% of Base Case NPV7.5%
(US$mm)
IRR
(%)
Gold Price
Yr 1 & 2
US$/oz Au
Gold Price
After Yr 2
US$/oz Au
100% $45.845 34.4% $1,000 $1,150
110% $80.194 53.8% $1,100 $1,265
120% $114.543 73.4% $1,200 $1,380

The Company cautions that the PEA is preliminary in nature in that it is based on Inferred Mineral Resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Company’s decision to place the Florida Canyon mine into production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and the Company cautions that historically such projects have a much higher risk of economic or technical failure.

All mining and ancillary equipment required to operate the Florida Canyon mine is in place together with a team of high quality experts experienced in mining a low-cost operation with a successful 30-year history.

Following the restart of Florida Canyon, Rye Patch intends to advance its other nearby resource projects as well as drill oxide targets at the mine and along the mine trend between Florida Canyon and the Standard Gold mine (approximately 10 kms). Significant exploration targets exist within the pit limits and beneath the Florida Canyon oxide deposit.  These near- and medium-term opportunities will be addressed once the mine is in full production.  From an operational viewpoint, substantial synergies exist with Florida Canyon and the nearby Lincoln Hill and Wilco resource projects.  The outlying oxide resources can be mined and leached at site with carbon transported to the Florida Canyon stripping and refining facility.  This benefit will reduce capital costs for the Lincoln Hill and Wilco projects.  Longer-term opportunities exist along the Oreana trend.  The Company controls over 180 square kilometres of prospective land along the trend and is one of the largest landholders in Pershing County.

Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold’s CEO and President, 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, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes.  The team is 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.  Benefitting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine.  The Company now controls a trend-scale platform with operations, replacement assets and exploration upside.   The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential.  For more information about the Company, 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

This news release contains forward-looking statements relating to future plans and objectives of the Company, proposed operations of the Company including mine development, 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: the failure of the Company to satisfy the conditions in the credit agreement entered into with Macquarie Bank Limited (“Credit Facility”), 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 Credit Facility and related transactions 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.

August 29th, 2016|

Rye Patch Grants Stock Options

Vancouver, British Columbia, August 12, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company”) announces that pursuant to its Stock Option Plan, the Board of Directors has granted incentive options to directors, officers, employees and consultants to purchase up to an aggregate of 10,000,000 common shares of the Company. The stock options are exercisable for a term of ten years at an exercise price of $0.50 per common share. Vesting will occur over a period of two years, with an initial 25% of the stock options vesting on the sixth month immediately after the date of grant, followed by an additional 25% of the stock options every six months thereafter until fully vested.

On July 28, 2016, the Company completed and closed a debt financing, equity financing, and the acquisition of the Florida Canyon mine. The Florida Canyon gold mine is fully permitted, has been in continuous production since 1986 and is currently producing gold from its existing leach pad facilities. The Company proposes to redevelop the mine, including constructing a new heap leach pad and waste storage facility as well as mining a planned expansion of the Florida Canyon ore body. The Company expects Florida Canyon to achieve production from the new leach pad starting in Q4 of 2016, and commercial production in Q1 of 2017.

“The stock option grant allows the existing operation, construction and management teams to be incentivized and committed to achieving these milestones on time and on budget. The stock option grant is greater than 40% above current market price aligning all of the teams goals with stakeholders to create shareholder value,” commented William C. Howald, President and Chief Executive Officer.

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


This news release contains forward-looking statements relating to future plans and objectives of the Company, proposed operations of the Company including mine redevelopment and construction, expansion plans and production objectives, 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: the failure of the Company to achieve its mine redevelopment plans and production results; the availability of funds; the financial position of the Company; 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 mine redevelopment and production goals will be completed 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.

August 12th, 2016|

Rye Patch Announces Acquisition of the Florida Canyon Gold Mine, Release of Escrowed Funds and Conversion of Subscription Receipts, and Credit Agreement for US$27 Million Credit Facility

Vancouver, British Columbia, July 29, 2016 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) is pleased to announce, further to its news releases dated May 25, 2016 and June 16, 2016, the completion of its acquisition (the “Acquisition”) of the Florida Canyon gold mine located in Pershing County, Nevada, the release of escrowed funds and conversion of subscription receipts under its Cdn$49.1 million private placement completed in June, and its signing of a credit agreement for a US$27 million credit facility for the redevelopment of the mine.

Florida Canyon Mine Acquisition

The Company acquired the Florida Canyon gold mine (with the Standard gold mine) from ADM‑Gold Co., Ltd. (“ADM-Gold”) and others for total consideration payable in cash, shares, warrants and/or debt of approximately US$23 million (the “Purchase Price”), including contingent payments and subject to adjustment for outstanding liabilities. Of the Purchase Price, US$15 million was payable at closing in cash, subject to approximately US$6.8 million being held back in an escrow account pending settlement of certain liabilities, and US$3 million was satisfied by the issuance of 20 million common shares of the Company to ADM‑Gold which are subject to a 4‑month hold period expiring on November 29, 2016. The remaining US$5 million of the Purchase Price is contingent consideration payable by the Company in cash and securities within 60 days of commencement of commercial production at the Florida Canyon gold mine by Rye Patch as operator, as further described in the Company’s news release dated May 25, 2016.

Release of Escrowed Private Placement Proceeds and Conversion of Subscription Receipts

Immediately prior to the completion of the Acquisition, the escrowed proceeds from the Company’s Cdn$49.1 million private placement of subscription receipts (“Subscription Receipts”) completed in June 2016 were released following satisfaction of the escrow release conditions. A portion of the net proceeds (after payment of agents’ commissions) was used to pay the Purchase Price under the Acquisition and to discharge certain liabilities at the Florida Canyon gold mine. In addition, the Subscription Receipts were converted on a one‑for‑one basis into 223,247,242 common shares of the Company. The common shares are subject to a hold period expiring on October 17, 2016.

Upon conversion of the Subscription Receipts, the Company paid the balance of the 5% agents’ commission and also issued a total of 11,162,362 agents’ warrants (the “Agents’ Warrants”) to Macquarie Capital Markets Canada Ltd., Canaccord Genuity Corp., Dundee Securities Ltd. and GMP Securities L.P. Each Agents’ Warrant is exercisable for one common share of the Company for a two‑year term from date of issue at an exercise price of Cdn$0.22 per common share. The Agents’ Warrants, and the common shares underlying the Agents’ Warrants, are subject to a four‑month hold period expiring November 29, 2016.

Macquarie Bank Credit Facility

Also immediately prior to the completion of the Acquisition, the Company entered into a credit agreement (the “Credit Agreement”) with Macquarie Bank Limited (“Macquarie Bank”) for a US$27 million credit facility (the “Credit Facility”) for the Company’s wholly owned U.S. subsidiary, Rye Patch Mining U.S. Inc. (“Rye Patch U.S.”). The Credit Facility will assist Rye Patch U.S. in financing the costs of the redevelopment of the Florida Canyon gold mine.
Upon closing of the Credit Facility, Rye Patch U.S.’s obligations under the Credit Facility will be guaranteed by the Company and certain material subsidiaries. In addition, Macquarie Bank will have a first ranking security interest over all of the properties and assets of the Company and its material subsidiaries, including the Florida Canyon mine property and assets as well as shares of the subsidiary companies that hold the property and assets.

Upon the signing of the Credit Agreement, Rye Patch issued to Macquarie Bank 16,224,545 warrants, each warrant being exercisable for one common share of the Company for a five‑year term from date of issue at an exercise price of Cdn$0.22 per common share. The warrants, and the common shares underlying the warrants, are subject to a four‑month hold period expiring November 29, 2016.
Further information on the Credit Facility is contained in the Company’s news release dated May 25, 2016.

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

This news release contains forward-looking statements relating to the terms of and closing of the Credit Facility, future plans and objectives of the Company, proposed operations of the Company including mine development, 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: the failure of the Company to satisfy the conditions in the Credit Facility including mine redevelopment plans and production results to complete the contemplated transactions; 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 Credit Facility and related transactions 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 29th, 2016|