RYG

Ryan Gold Corp. (TSX VENTURE:RYG), ("Ryan Gold" or the "Company") announces the
filing of the unaudited condensed interim consolidated financial results for the
Company for the third quarter ending September 30, 2012. The full version of the
financial statements and the management discussion and analysis can be viewed on
the Company's web site at www.ryangold.com or on SEDAR at www.sedar.com. 


The Company regularly reviews the carrying amounts of its non-financial assets
to determine whether there is any indication that those assets have suffered an
impairment loss. Mineral property interests are tested for impairment when facts
and circumstances suggest that the carrying amount of the mineral property
interests exceed their recoverable amounts. The Company has determined that, due
to present market conditions, it was necessary to record an impairment of the
carrying value of its Ida Oro Property as at September 30, 2012. The non-cash
loss attributable to the impairment is $127,022,586. 


In December, 2010, the Company completed the acquisition of Ryan Gold Inc., a
private company whose primary asset was the Ida Oro Property. The Company issued
shares and warrants to acquire Ryan Gold Inc. In accordance with IFRS 2, share
consideration was measured as of the date of completion of the acquisition. As
such, the Company shares were valued at $2.30 per share, the volume adjusted
weighted average share price between December 22, 2010 and December 30, 2010. As
a result, the Ida Oro Property was valued at $136,222,586. 


Although the Company has received encouraging drill results from its first two
seasons of exploration at Ida Oro, and the Company still considers Ida Oro to be
its flagship property, as at September 30, 2012, Management has determined that
the historical carrying amount of the Ida Oro Property exceeds its "recoverable
amount". Under IAS 36 the recoverable amount is defined as the higher of an
asset's "fair value less cost to sell" and its "value-in-use". As the Ida Oro
Property is an early stage exploration property without defined resources, the
Company does not have the relevant data to determine the property's recovery
value under either accounting method. Taking into account present market
conditions, as well as the recent trading levels of the Company's shares,
Company management's best estimate of the recovery value of the Ida Oro Property
is $9,200,000. This amount represents the approximate exploration and evaluation
spending on the property since its acquisition in December of 2010. 


This press release contains forward-looking statements within the meaning of
applicable securities legislation. Such statements include, without limitation,
statements regarding the future results of operations, performance and
achievements of the Company, including potential property acquisitions, the
timing, content, cost and results of proposed work programs, the discovery and
delineation of mineral deposits/resources/reserves, geological interpretations,
proposed production rates, potential mineral recovery processes and rates,
business and financing plans and business trends. Although the Company believes
that such statements are reasonable, it can give no assurances that such
expectations will prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate,
postulate and similar expressions, or are those, which, by their nature, refer
to future events. The Company cautions investors that forward-looking statements
by the Company are not guarantees of future results or performance, and that
actual results may differ materially from those in forward-looking statements as
a result of various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be located,
significant downward variations in the market price of any mineral that may be
produced, the Company's inability to obtain any necessary permits, consents or
authorizations required for its activities, to produce minerals from its
properties successfully or profitability, to continue its projected growth, to
raise the necessary capital or to be fully able to implement its business
strategies. All of the Company's public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these materials, including any
technical reports filed with respect to the Company's mineral properties. This
press release is not, and is not to be construed as an offer to buy or sell
securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ryan Gold Corp.
David Schmidt, Interim CEO
(604) 639-3119

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