RYE Rhyolite Resources Ltd

Rhyolite Resources Ltd. ("Rhyolite" or the "Company") (TSX VENTURE: RYE) is pleased to announce the appointment of Mr. Michael Basha, P.Eng, P.Geo. to the board of directors of the Company. In connection with this appointment, the Company has also granted 50,000 stock options pursuant to its Stock Option Plan at the exercise price of $0.50 each for a term of five years.

Mr. Basha is a seasoned exploration professional, with more than 22 years of domestic and international experience including research, fieldwork, and senior management experience in gold, base-metal and magmatic nickel-copper-platinum group elements. Mr. Basha is also currently the President and Chief Executive Officer of Aurion Resources Ltd. and was formerly Vice-President of exploration of Cornerstone Capital Resources Corp.

Ms. Melinda Park has resigned as a director and the Board would like to thank Ms. Park for her contributions to the Company since its inception.

ON BEHALF OF THE BOARD OF DIRECTORS OF RHYOLITE RESOURCES LTD.

Richard Graham, Director, President and CEO

Neither the 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.

Contacts: Rhyolite Resources Ltd. Richard Graham, P.Geol. 604-488-8717