Junior Miner Looking Good for Commercial Production in 2018, Analysts Say

Disclosures from iA Securities, Rye Patch Gold Corp., Research Update, Dec. 11, 2017

Conflicts of Interest: The research analyst and or associates who prepared this report are compensated based upon (among other factors) the overall profitability of iA Securities, which may include the profitability of investment banking and related services. In the normal course of its business, iA Securities may provide financial advisory services for the issuers mentioned in this report. iA Securities may buy from or sell to customers the securities of issuers mentioned in this report on a principal basis.

Analyst’s Certification: Each iA Securities research analyst whose name appears on the front page of this research report hereby certifies that (i) the recommendations and opinions expressed in the research report accurately reflect the research analyst’s personal views about the issuer and securities that are the subject of this report and all other companies and securities mentioned in this report that are covered by such research analyst and (ii) no part of the research analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.

Analyst Trading: iA Securities permits analysts to own and trade in the securities and or the derivatives of the issuer under their research coverage, subject to the following restrictions. No trades can be executed in anticipation of coverage for a period of 30 days prior to the issuance of the report and 5 days after the dissemination of the report to our clients. For a change in recommendation, no trading is allowed for a period of 24 hours after the dissemination of such information to our clients. A transaction against an analyst’s recommendation can only be executed for a reason unrelated to the outlook of the stock for the issuer and with the prior approval of the Director of Research and the Chief Compliance Officer.

Within the last 12 months, iA Securities has received compensation for investment banking services or has provided investment banking services with respect to the securities of the issuer.

In the past 12 months, iA Securities has managed or co-managed a public offering of securities for the issuer.

The analyst has visited the issuer’s operations in Lovelock, Nevada, US. No payment or reimbursement was received from the issuer for the associated travel costs.

In the past 12 months, neither iA Securities, its officers or directors, nor any analyst involved in the preparation of this report have provided services to the issuer for remuneration other than normal course investment advisory or trade execution services.

Disclosures from Macquarie Research, Rye Patch Gold Corp., Nov. 29, 2017

A Research Associate has visited the material operations and development assets of Rye Patch Gold within the past year; the company has furnished local transportation and accommodations as part of these site visits.

SLW CN: MACQUARIE CAPITAL MARKETS CANADA LTD./MARCHÉS FINANCIERS MACQUARIE CANADA LTÉE. or one of its affiliates managed or co-managed a public offering of securities of Rye Patch Gold Corp in the past 24 months, for which it received compensation.

Macquarie Group Limited together with its affiliates beneficially owns 1% or more of the equity securities of Rye Patch Gold Corp.

Important company disclosures are available here.

Analyst certification: We hereby certify that all of the views expressed in this report accurately reflect our personal views about the subject company or companies and its or their securities. We also certify that no part of our compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. The Analysts responsible for preparing this report receive compensation from Macquarie that is based upon various factors including Macquarie Group Ltd total revenues, a portion of which are generated by Macquarie Group’s Investment Banking activities.