Decision Regarding Re-opening Of Idaho-Maryland Mine Project

GRASS VALLEY, CA – Rise Gold Corp. reported that the Nevada County Board of Supervisors adopted a resolution, in a public hearing denying the Company’s application for a Use Permit to allow the re-opening of the Idaho Maryland Gold Mine and not certifying the Final Environmental Impact Report (FEIR).

The Supervisors cited undefined mining disasters, impacts to water wells, noise, vibrations, and other concerns as reasons for the denial. Importantly, these risks were analyzed extensively by the County’s FEIR, which concluded that there would be no significant impacts from them to the County. During the Hearing the Supervisors own consultant, Nick Pappani of Raney Planning and Management, stated “the level of technical analysis and peer review through this process in my professional opinion has been exceptional.”

The Supervisors of Nevada County adopted a resolution denying Rise’s petition for confirmation of its vested rights to operate the Idaho-Maryland mine, relying on a County staff report riddled with factual errors to reach a conclusion that inverted the legal principles of vested rights established by the Supreme Court of California.

CEO Joe Mullin commented: “We will be carefully considering the best path to protect our shareholders’ interests. The Company has strong legal grounds, a first-class litigation team, and intends to vigorously defend its property rights. I look forward to further updating our shareholders in due course and appreciate their continued support.”

The Company has a wide array of legal options which are being discussed with its litigation attorney, Cooper & Kirk PLCC.