Idaho-Maryland-Brunswick Mine Mining Petition Submitted

GRASS VALLEY, CA - Rise Gold Corp. has submitted a Petition to the County of Nevada asserting its vested right to mine at the Idaho-Maryland-Brunswick Mine. As demonstrated in the Petition, mining operations on the Vested Mine Property are a vested use, protected under the California and federal Constitutions, and a use permit is not required for mining operations to continue.

The Company owns the Idaho-Maryland-Brunswick Mine, consisting of 175 acres of surface land and a 2,560-acre mineral estate (the "Vested Mine Property"), located in Nevada County ("County"), California. Before the Vested Mine Property was consolidated into its current configuration in 1941, it existed as multiple historical mines and operations referred to in the Petition as the "Mine Property" or the "Mine."

For the vested right to be recognized by the County, Rise needs to demonstrate that fact that mine operations were being conducted both before and immediately after the County first required a permit to mine in 1954. The Petition and its exhibits are replete with historical evidence that mining was conducted at the Vested Mine Property prior to, during, and after 1954, when the County first required a use permit.

Once vested, this right to mine endures unless it is abandoned, which has not occurred here. Abandonment only occurs if two conditions are met: (1) there is evidence of a property owner's actual intent to abandon the vested mining right; and (2) an overt act (or failure to act) demonstrating such intent. The California Supreme Court has held that a vested mining right is not abandoned merely because the mine has been inactive for periods of time, and the Court has found that cessation of use alone does not constitute abandonment of a mine. The evidence set out in the Petition establishes the various previous owners evidenced their intent to retain the vested right to mine by continuously recording mineral reservations, entering into leases, and making plans for resuming mining in the future, even when mining operations were suspended. There is no evidence that any owner of the Vested Mine Property actually intended to abandon the vested mining right or took an overt act demonstrating that intent (let alone both). In addition, the vested right was already confirmed in 1980 by the County itself.

The Nevada County Board of Supervisors will hold a public hearing regarding the Company's Petition on October 27th of this year. A decision on the Petition is not discretionary, rather the Board of Supervisors must decide whether to confirm the vested rights by reviewing the historical facts in light of how the California Supreme Court has interpreted the relevant legal principles.