RYE PATCH GOLD CORP. ("RPM")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: June 28, 2013
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation pertaining to a Settlement Agreement ('Settlement Agreement') dated June 24, 2013 among Rye Patch Gold Corp. (the 'Company'), its wholly-owned US subsidiary, Rye Patch Gold US Inc. ('RPG'), and Coeur Rochester, Inc ('CRI'), whereby the Company will dispose of certain mineral claims in Pershing County, Nevada (the 'Mineral Claims') in settlement of litigation between RPG and CRI over title to and ownership of the Mineral Claims.
In consideration of the disposition, CRI will pay the Company a US$10 million cash settlement, and grant a 3.4% net smelter return royalty ('NSR') covering 39.4 million silver-equivalent oz. sales at CRI's Rochester mine. The NSR royalty commences on January 1, 2014.
As part of the settlement, the Company can elect to have CRI transfer the Blue Bird property to it within 10 days following the closing date. The Blue Bird property lies adjacent to the Company's exploration-stage Lincoln Hill gold-silver project.
Further information on the settlement can be found in the Company's news release dated June 25, 2013.
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