Rye Patch, Coeur d’Alene Settle Dispute

Rye Patch Gold (TSXV:RPM) and Coeur d’Alene Mines (NYSE:CDE) have settled a dispute over title to mining claims covering the Rochester and Packard areas in Nevada.

As quoted in the news release:

In settlement of the legal dispute, Rye Patch will convey all of the disputed LH and OG unpatented lode mining claims (comprising 386 of the 410 LH claims and all three OG claims) to Coeur in return for the following:

• A cash payment to Rye Patch of Ten Million Dollars ($10,000,000);
• A net smelter returns production royalty equal to 3.4% of the gross revenue, less refining costs, of gold and silver produced and sold from the Rochester Mine covering 39.4 million ounces of silver equivalent (the “NSR”); and
• At Rye Patch’s election, Coeur will transfer to Rye Patch the Blue Bird patented lode mining claim located adjacent to Lincoln Hill, about two miles west of Rochester.

Click here for the entire news release by Rye Patch Gold Corp  (TSXV:RPM)