Rye Patch Updates Gold Exploration Along the Cortez Trend

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2012) - Rye Patch Gold Corp. (TSX VENTURE:RPM)(OTCQX:RPMGF)(FRANKFURT:5TN) (the "Company") announces an exploration update for Rye Patch Gold US Inc.'s exploration projects along the prolific Cortez gold trend in north-central Nevada.

HIGHLIGHTS:

• The core drilling program at the Garden Gate Pass (GGP) project, and the reverse circulation drilling at the Patty project commenced in late September;
• Drilling at GGP is targeting the strike extension of Barrick's Goldrush gold deposits; and
• At Patty, the drill is aimed at a Carlin-style target and structural project of the Cortez trend where historic drilling cut 102 metres grading 0.32 g/t gold.

In June, three pre-collar drillholes were completed and casing set on the GGP project. Now, a core drill is occupying the pre-collars and will complete the drillholes to their designed target depth. Initially, two drillholes are planned on the eastern target zone which is on strike of Barrick's newly announced Goldrush gold deposit. Barrick has completed geophysical surveys including 3D seismic along the northern and eastern boundary of GGP project northward toward the Goldrush deposit. At the western target, one core is planned to assess the Company's geologic interpretation of ore controlling structures from the Cortez Hill's gold mine located 10 kilometres to the north.

At Patty, drills are testing geologic environs similar to Barrick's new discoveries located 12 kilometres to the north as well as determining strike and depth extension of the existing gold deposit located on the project. The Western Rift target lies along the western margin of the Northern Nevada Rift (NNR) within a similar geologic environment as Barrick's new gold deposit. In 2005, Placer Dome drilled gold in Devonian carbonate rocks along the western margin of the NNR. Drillhole PIR05-010 intersected 102 metres grading 0.32 g/t gold including 1.5 metres grading 4.16 g/t gold. Follow up drilling focused along the east-northeast oriented OS fault system. The gold intercept in PIR05-010 may have new significance given the new discovery at Barrick's Goldrush deposit. The geologic setting and host lithologies are similar and mineralization could be associated with a north-south trending structural zone along the western margin of the NNR. The historic gold intercepted is open to the north and south.

The second area has a near surface gold anomaly within siliciclastic units of the upper plate. Past drilling shows the gold zone has expansion potential to the north and east and at depth within favorable lower plate carbonates. Drilling is specifically targeting the lower plate carbonates at the structural intersections beneath the Simpson Park thrust fault.