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CDE

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Share Name Share Symbol Market Type
TSXV:CDE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Rye Patch Gold Files Motion for Restraining Order Against Coeur D'Alene Mines

12/03/2012 1:00pm

Marketwired Canada


Rye Patch Gold Corp (TSX VENTURE:RPM)(OTCQX:RPMGF) (the "Company") announces
that its wholly owned subsidiary, Rye Patch Gold US Inc. ("Rye Patch US"), has
filed a motion with the Nevada Sixth District Court for injunctive relief
against Coeur Rochester Inc. ("CRI"), the wholly-owned subsidiary of Coeur
d'Alene Mines Corp. ("CDE"). The motion seeks to enjoin CRI from exploring for
and mining minerals on Rye Patch's 100% owned senior unpatented LH lode mining
claims which comprise Rye Patch's Rochester project.


Based on the statements made in CDE's 10-K Annual Report filed with the United
States Securities and Exchange Commission on February 23, 2012, CDE
acknowledges, on page 28 of the 10-K, the forfeiture of CRI's 541 unpatented
lode mining claims as a result of CRI's failure to pay the mandatory claim
maintenance fee to the Bureau of Land Management ("BLM") which were due on or
before August 31, 2011. Under United States law, CRI's failure to pay the annual
mining claim maintenance fees caused CRI's 541 unpatented mining claims to be
forfeited and void as a matter of law. Ownership of and title to the minerals on
the federal public lands reverted to the United States government, and any
citizen or U.S. company had the right to acquire mineral title through staking
unpatented lode mining claims on the open federal lands. Rye Patch identified
the open ground and beginning in October 2011 and November 2011 located 402
unpatented lode mining claims which it filed and recorded with the BLM and
Pershing County, Nevada.


Since November 2011, Rye Patch has completed considerable work on the Rochester
project - LH Claims. The Company completed detailed mapping, structural
analysis, rock-chip sampling, soil sampling, a 75 line-kilometre ground-magnetic
geophysical survey, and has commenced a 10,000 metre (30,000 ft) reverse
circulation drilling campaign on its discoveries identified on the LH claims.


Rye Patch Gold controls over 100 square kilometres (40 sq. miles) along the
Oreana trend. The Rochester Property - LH Claims - covers 30.3 square kilometres
(7,493.2 acres). The District Court has enjoined the Company from conducting
exploration activities on approximately 7.4 square kilometres (1,839.3 acres)
covering the active open pit, mine dumps and leach pads in the immediate
Rochester Mine area. It is the Company's position that all the LH claims are
valid senior unpatented mining claims, including those claims within the
court-ordered enjoined area. Geologic assessment, and drilling confirm
discoveries on the LH claims and the land area which covers up to 20% of
Rochester's published proven and probable silver and gold reserve along with a
significant portion of the published silver and gold resource based on Coeur
d'Alene Mine's December 5, 2011 news release. The trial is scheduled for
November 2012.


Rye Patch Gold is a Tier 1, Nevada-focused and discovery-driven company seeking
to build a sizeable inventory of gold and silver resource assets 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 is developing gold and silver resources
along the emerging Oreana trend, located in west-central Nevada, and is
exploring 66 square kilometres along the Cortez trend near Barrick's two new
gold discoveries. 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 Rye Patch Gold, 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
to pursue legal undertakings; the outcome of legal action relating to the
Rochester property and the LH unpatented claims, the timing and content of work
programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, 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. Litigation is inherently uncertain and factors
that could cause actual results to differ materially from those in
forward-looking statements include unexpected judicial findings of fact,
previously unknown facts arising, and decisions which depart from past legal
precedent and similar events.


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.


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