$1.4 Million Exploration Program Planned at Four Nevada Gold-Silver Properties

       Despite Rye Patch Gold’s intent search for new acquisitions, the company is far from neglecting the properties already in its growing portfolio.
       Rye Patch is the dominant landholder on the new Oreana Gold Trend, controlling a 65-square-kilometer majority area. The company’s Wilco, Lincoln Hill/Gold Ridge and Jessup Projects are in varying stages of exploration and development and, to date, have accumulated a total gold and gold equivalent resource of 3.91 million ounces (measured, indicated and inferred).
       The company has designated $1.4 million for continuing exploration at its various projects this year. Some $500,000 of that exploration budget will be spent at the Wilco Project. A spring drilling program is now underway and will include up to 5,000 meters of reverse circulation drilling to test high-grade feeder zones in the North Basin target area and drill a new pediment target. The drill holes are testing the newly identified structural zones for high-grade gold and silver. Based on the results released in early June (44.5 g/t Au and 36.3 g/t Ag over 1.5 meters), the drill program is succeeding and delivering the high-grades envisioned. Metallurgical testing will be performed on selected drill hole composites from the 2007, 2008 and 2009 drilling campaigns at the Section Line discovery zone.
       This spring, Rye Patch Gold completed the $3 million in work necessary to earn a 100% interest in Wilco, one year earlier than called for in the original agreement with a subsidiary of Newmont Mining Corporation. If Rye Patch completes a positive feasibility study, Newmont will have 120 days to exercise its back-in right. If it does not, Rye Patch Gold can complete its full acquisition of Wilco by paying Newmont $2 million.
       The first-ever NI 43-101-compliant resource estimate is nearing completion at the Lincoln Hill Project. Once completed, it will become the company’s third Nevada gold resource property. A $500,000 drill campaign will then be designed to infill and expand the new resource. Rye Patch Gold also has budgeted a $100,000 program to identify new drill targets on its 100%-owned Gold Ridge Project, which covers an additional 12 square kilometers along the Oreana trend.
       Several targets at the Jessup project show potential for high grade gold and silver mineralization. A $300,000 exploration program is planned to drill targets identified during 2008 drilling that delineated higher grade gold and silver within breccias at the San Jacinto and North Jessup resource areas.

Oreana Gold Trend Holds Potential for Millions of Ounces of Gold

       As an increasingly significant landholder on Nevada’s new Oreana gold trend, Rye Patch Gold is well on its way to accumulating a multi-million ounce war chest of gold and silver assets. The richness of the Oreana Trend is characterized by blanket-like stockwork gold zones with impressive high-grade gold mineralization and a significant silver upside and is believed to have the potential to host 15 to 20 million ounces of gold. The 30 kilometers long trend was first defined at Wilco, and was further outlined by new high-grade gold and silver discoveries at Lincoln Hill. Similar discoveries were made by Midway Gold and Barrick at Spring Valley. Geologic models of the gold mineralization indicate the Oreana Gold Trend could host up to 20 million ounces of gold. Nearly 5 million ounces of gold and significant silver mineralization have been discovered so far.
       Rye Patch Gold’s long-range strategic plan is to become a supermarketer of precious metal inventory to the state’s major gold producers who are quickly running out of mineable resources and reserves. Despite it’s long mining history, there is still ample opportunity to discover major new gold and silver deposits – and a more than adequate infrastructure in place to develop and process new deposits. Nevada is the world’s fourth largest gold producing region, and yields 78% of all the gold produced in the U.S.
       “Over the past 10 years, Nevada production has declined over 30%, and world gold production is off by over 15% according to some experts. Producers will soon need to acquire gold resource based juniors for their ounces,” says Rye Patch Gold President and CEO Bill Howald. “In Nevada, the major mining companies have tremendous infrastructure already in place and I don’t think they are going to just shut off the lights and go away.”
       The company’s Wilco Project in Pershing County currently hosts a total 2.872-million gold and gold equivalent ounces (measured, indicated and inferred). Recent drilling at Wilco expanded the Willard and Colado zones and increased the inferred resource by 48% and the measured and indicated resource by about 10%, The Willard and Colado deposits are open along strike and at depth.
       Resource totals at Rye Patch Gold’s 100%-owned Jessup Project, further to the southwest in Churchill County, increased 150% last year to 300,000 ounces of gold (measured and indicated) and 250% to 77,000 ounces of gold inferred. Silver resources also increased significantly to 5.09 million ounces from 1.65 million ounces (measured and indicated). The inferred silver resource also increased from 286,000 to 1.146 million ounces. Both gold and silver mineralization remains open both down dip and along strike.
       New discoveries at Gold Ridge, Lincoln Hill, and along the Oreana Trend are expected to boost the company’s resource inventory significantly. To date, drilling indicates there is substantial mineralized gold porphyry at depth.

Investment Considerations

       Rye Patch Gold is guided by a management team steeped in exploration and production experience acquired at some of the world’s largest mining companies. Within one year, this team posted a very respectable 3.3 million ounce gold equivalent resource on its books, racked up high-grade drill results on multiple properties, and proved to the mining community that it can and does deliver on what it promises. Rye Patch also met, a year early, Newmont’s $3-million spending requirement to earn a 100% interest in the Wilco Project. Newmont can earn back a 70% share by spending $20 million in development work at the project. Rye Patch Gold’s potential as a significant player in the resource sector was recognized when the Toronto Venture Exchange elevated the company to Tier 1 status. Rye Patch is more than 60% held by insider and institutional investors.
       Because of its tight focus on Nevada, and growing resource base augmented by both exploration and strategic acquisitions, Rye Patch Gold could well become irresistible to such majors as Kinross, Newmont and Barrick, who face depletion of their existing mineral resources in as little as seven years.
       “2010 has started off with Rye Patch making great strides to reach its resource goals in Nevada and add value to its shareholders,” says Howald. “With gold production declining worldwide, Rye patch Gold is uniquely positioned with gold and silver resources in Nevada to capitalize on gold price and resource demand.