VANCOUVER, Sept. 13, 2016 /CNW/ - Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the "Company" or "Rye Patch") is pleased to announce that Rye Patch Mining US Inc., a wholly owned subsidiary, has been awarded The Nevada Excellence in Mine Reclamation for its reclamation work at the Standard mine site on the Florida Canyon mine property. The award recognizes the reclamation design and planning at the Standard mine's north waste rock storage facility (NWRSF). After the North pit was mined out, the surrounding pits were started and mined concurrently. The NWRSF was used as a primary waste rock facility until it reached its current height in 2015. By filling the NWRSF to the planned height, the sides were sloped to 3:1 or to match surrounding topography, and the reclamation was completed in July 2016.
William Howald, the Company's President and CEO, stated, "The Company is honoured to win this prestigious award, and it demonstrates Florida Canyon's commitment to our shared values of safety, environmental stewardship, and investment in talent. We would also like to congratulate the other award winners, Newmont Mining Corporation and Jerritt Canyon Gold. Because mining is a significant economic driver to the state, it is imperative that mining constantly improve its ability to restore the land when finished."
The nominating entities are the U.S. Bureau of Land Management; U.S. Forest Service; Nevada Division of Minerals; Nevada Division of Environmental Protection; and Nevada Division of Wildlife. The selection committee consists of members from the U.S. Bureau of Land Management with representatives from the Nevada State Office; U.S. Forest Service; Nevada Division of Minerals; Nevada Division of Environmental Protection; and Nevada Division of Wildlife.
The awards recognize miners in the state of Nevada who are doing an outstanding job of reclaiming areas disturbed by mining and exploration activities. The awards promote competition amongst mining companies to design, incorporate and complete sound reclamation plans that incorporate new and innovative ideas, raise industry standards, and increase public awareness of the positive aspects of mining.
Mr. William Howald, AIPG Certified Professional Geologist #11041, Rye Patch Gold's CEO and President, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.
About Rye Patch Gold Corp.
Rye Patch Gold Corp. is a Nevada based, Tier 1, well-funded mining company led by a seasoned management team with a wide range of operations and project development successes. The team is engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Benefitting from its strong financial position, the Company has leveraged its cash to acquire the operating Florida Canyon gold mine. The Company now controls a trend-scale platform with operations, replacement assets and exploration upside. The combination of operations and exploration concentrated along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value added potential. 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 relating to future plans and objectives of the Company, proposed operations of the Company including mine development, future events and conditions and other statements that are not historical facts, all of 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 failure of the Company to satisfy the conditions in the credit agreement entered into with Macquarie Bank Limited ("Credit Facility"), mine redevelopment plans and production results; 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; 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. As a result, the Company cannot guarantee that the Credit Facility and related transactions will be completed on the terms and within the time disclosed herein or at all.
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.
SOURCE Rye Patch Gold
For further information: Rye Patch Gold Corp, [email protected], Tel.: (604) 638-1588, Fax: (604) 638-1589