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Rye Patch Gold Corp. is a Tier 1, well-funded junior mining company led by a seasoned management team that has participated in major discoveries totaling over 100-million ounces of gold.

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Announces Private Placement

posted on Feb 26, 2009 09:31AM
February 26, 2009
Rye Patch Gold Announces Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2009) -

NOT FOR DISTRIBUTION IN THE U.S.

Rye Patch Gold Corp. (TSX VENTURE:RPM)(TSX VENTURE:RPM.WT)(OTCBB:RPMGF) ("Rye Patch" or the "Company") announces a non-brokered private placement (the "Private Placement") of up to 3,000,000 units ("Units") of the Company at a price of $0.12 per Unit for gross proceeds of up to $360,000. Each Unit will consist of one common share of the Company and one common share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase one common share of the Company at an exercise price of $0.15 for a term of two years.

The Company may pay to certain finders a fee of up to 6% of the gross proceeds of the Private Placement, which fee may be payable in cash or common shares of the Company.

The Private Placement and payment of the finder's fees are subject to the TSX-Venture Exchange's approval.

The net proceeds from the Private Placement will be used for exploration and development of the Company's projects, for acquisitions and for working capital.

Rye Patch Gold Corp. is a Nevada-focused and discovery-driven company building a sizeable inventory of gold resource assets in the mining friendly state of Nevada, USA. The Company's seasoned management team is engaged in acquisition, exploration and development of quality resource-based gold projects. Rye Patch Gold is developing its primary assets - the advanced-stage Wilco project located within the Humboldt Gold Trend in west-central Nevada and the Jessup project in Churchill County, Nevada. The Company is seeking gold opportunities that continue to create shareholder value and leverage the gold price. For more information about Rye Patch Gold, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors

William C. (Bill) Howald, CEO & President
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