|By Marketwired .||
|May 9, 2014 04:16 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/09/14 -- Rye Patch Gold Corp. (TSX VENTURE: RPM)(OTCQX: RPMGF)(FRANKFURT: 5TN) (the "Company" or "Rye Patch") - Rye Patch Gold wishes to announce that Jonathan Challis has been appointed as non-executive Chairman of the Company. Mr. Challis is a current director of the Company and replaces Joe Kajszo, who has tendered his resignation as Executive Chair.
Mr. Kajszo is one of the founders of the Company and played an instrumental role in providing the leadership and vision to bring the Company to its current leadership position. The Board wishes to thank Mr. Kajszo for his past services and wishes him the best in his future endeavours.
Mr. Challis has been involved with Rye Patch Gold Corp. since 2007. Mr. Challis has provided oversight and guidance to the Company as one of its directors and brings a strong background in financial, personnel, and corporate governance matters.
Rye Patch Gold Corp. is a Tier 1, well-funded junior mining company with a royalty revenue stream from the operating Rochester silver mine and significant gold and silver resources, all located in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in the acquisition, exploration, and development of quality resource-based gold and silver projects. Rye Patch Gold US Inc. controls over 75 square kilometres (30 sq. miles) of land, and has a 3.4 % Net Smelter Return (NSR) royalty from the Rochester silver mine along the Oreana trend located in west-central Nevada. The Company is aggressively developing gold and silver resources along this emerging trend, utilizing existing funds and cash flow from the NSR royalty which is fully leveraged to the price of gold and silver. In east central Nevada, Rye Patch Gold US Inc. is exploring 66 square kilometres of exploration land along the prolific Cortez trend contiguous to Barrick's new Goldrush deposit. The Company has established gold and silver resource milestones and time frames in order to build a premier resource development company. For more information about the Company, please visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
William C. (Bill) Howald, CEO & President
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the 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 (and, in respect of the Coeur Rochester mine 3.4% NSR, the reliability of calculation of Coeur's mineral resources and reserves); 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.
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.