RYG

This document corrects and replaces the press release that was sent today
October 24th at 7:00 AM EDT. 


Ryan Gold Corp. (TSX VENTURE:RYG) ("Ryan") wishes to clarify the terms of its
agreement with Castillian Resources Corp. (TSX VENTURE:CT) ("Castillian")
pursuant to which Ryan has been granted the option to acquire a 10% working
interest in the option held by Castillian to acquire a 100% interest in the Hope
Brook Gold property and associated properties(the "Transaction"). 


In order to acquire its working interest, Ryan is required to incur aggregate
exploration expenditures on the property of $2,000,000 (the "Expenses") by
December 31, 2012. At any time after Ryan has acquired its interest in the
property and prior to June 30, 2013, Ryan shall be entitled to transfer such
interest back to Castillian (the "Put Right") in consideration of the issuance
to Ryan of that number of shares of Castillian (each, a "Castillian Share") that
is equal to the quotient obtained by dividing (a) the sum of all expenditures
incurred or deemed to have been incurred on the property by Ryan to the date of
exercise of the Put Right, by (b) $0.05 per Castillian Share. Further, in the
event that Ryan exercises the option and acquires its 10% working interest in
the property, then at any time after June 30, 2013 and prior to December 31,
2013, Castillian shall have the right (the "Call Right") to require that Ryan
transfer such interest back to Castillian in consideration of, at the option of
Castillian, either (i) a cash payment to Ryan that is equal to the sum of all
expenditures incurred or deemed to have been incurred on the property by Ryan to
the date of exercise of the Call Right; or (ii) a number of Castillian Shares
that is equal to the quotient obtained by dividing (a) the sum of all
expenditures incurred or deemed to have been incurred on the property by Ryan to
the date of exercise of the Call Right, by (b) $0.05 per Castillian Share. Ryan
may only exercise the Put Right and Castillian shall only be permitted to
exercise the Call Right in Castillian Shares to the extent that such exercise
does not result in Ryan holding 20% or more of all of the issued and outstanding
Castillian Shares at the time of exercise. 


The Transaction remains subject to the approval of the TSX Venture Exchange,
amongst other matters. Ryan's press release issued earlier today incorrectly
described the terms of the Call Right. 


About Ryan Gold Corp. 

Ryan Gold Corp. is an exploration company focussed on gold exploration primarily
in the Yukon Territory, Canada. The Company is well funded and has a large land
package of approximately 470,000 hectares comprised of 80 different properties.
The company's flagship property is Ida Oro. During the summer of 2010 a soil
sampling programme completed on Ida Oro revealed a significant, greater than 100
ppb Au, gold-in-soil anomaly over an area of 4 km by 1.2 km. In 2011 the Company
completed an 11 hole drill campaign for a total of 2,854 m. The Company has
completed its 2012 drill programs on the Ida Oro and Flume Properties, and
continues to systematically explore a number of its other properties.


Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
Ryan and Castillian, including, but not limited to the impact of general
economic conditions, industry conditions, volatility of commodity prices,
dependence upon regulatory approvals, the availability of financing and
exploration risk. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ryan Gold Corp.
David Schmidt
Interim Chief Executive Officer
(604) 639-3119
www.ryangold.com

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