VANCOUVER, Feb. 12, 2018 /CNW/ - Rye Patch Gold Corp.
("Rye Patch" or the "Company") (TSX.V: RPM;
OTCQX: RPMGF; FWB: 5TN) is pleased to announce the appointment
of Mr. Douglas M. Jones, B.Sc.
Mining Engineering, as the Company's Chief Operating
Officer.
Mr. Jones brings over 30 years of experience in US and
international precious and base metal mining projects, operations,
and engineering, including over 15 years in the gold space. He has
held increasing positions of responsibility from front line to
general manager to executive in many sizes and types of mining
operations. Prior to joining Rye Patch, he has served as Senior
Vice President for Eldorado Gold, managing gold and base metal
operations in Asia and
Europe. He was General manager for
Kinross Gold in Washington and for Stillwater Mining in
Montana. He has consulted for
mining operations in South
America, Asia, and
Europe. Mr. Jones is excited to
work again in Nevada, having spent
ten years with Newmont on the Carlin Trend in various projects and
operations. He has a proven track record and is unwavering in his
team approach to safe productivity. Mr. Jones is a Mining Engineer
from Colorado School of Mines, a
professional member of SME and a Qualified Person under National
Instrument 43-101.
"Doug brings a wealth of operational and managerial knowledge,
experience and, most importantly, a track record of making and
maintaining profitable mining operations. His insight,
understanding and capabilities will be a valuable addition to Rye
Patch's management team and the Florida Canyon mine. The addition
of the COO position will allow me to focus on the Company's vision,
values and culture," stated William C.
Howald, the Company's CEO and President.
The Company also announces the grant under its Stock Option Plan
of stock options to purchase an aggregate of 1,242,000 common
shares of the Company to its directors, officers, employees and
consultants. The stock options are exercisable for a term of ten
years at an exercise price of $1.30
per common share, subject to the options vesting schedule of 25% on
the date of grant and another 25% every six months thereafter
until fully vested.
In addition, the Company announces the award under its
Restricted Share Unit Plan of an aggregate of 504,600 restricted
share units ("RSUs") to its directors, officers, employees and
consultants. Each RSU entitles the recipient to receive one common
share of the Company, or a cash payment equal to the equivalent for
one common share of the Company, following the vesting period of
the RSU. The RSUs awarded will vest as to one‑third on the date of
grant and one‑third on the first and second anniversaries of the
date of grant.
The stock option grants and RSU awards are subject to any
necessary regulatory approvals.
About Rye Patch Gold Corp.
Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company 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. Leveraging
its strong financial position and cash to acquire the operating
Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a
trend-scale platform with mining operations, resource projects and
exploration upside. The combination of operations and organic
growth along a major Nevada gold
trend positions Rye Patch as an emerging mid-tier gold producer
with tremendous value added potential. For more information, please
visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
'William Howald'
William C.
(Bill) Howald, CEO & President
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