Mr. Benjamin Mossman reports
RISE ANNOUNCES EXTENSION OF LAND PURCHASE AGREEMENT
Rise Gold Corp. has negotiated an extension of the remaining payment due for the purchase of the 82-acre parcel of M-1 Industrial land adjacent to the historical New Brunswick mine shaft in Nevada county, California. The extension of the payment terms will allow the company to focus its financial resources on the coming exploration drill program at the Idaho-Maryland gold project. The mill site land purchase has previously been disclosed by news releases on Aug. 8, 2017, and April 7, 2017. The company has invested $600,000 (U.S.) in the property to date. The remaining balance of $1.3-million (U.S.), payable in four payments over the next year, is shown in the attached table.
PAYMENT SCHEDULE FOR MILL
SITE PROPERTY PURCHASE
Date Payment (USD)
Sept. 30, 2017 $300,000
Dec. 30, 2017 $300,000
March 30, 2018 $300,000
June 30, 2018 $400,000
The company believes this land purchase is a valuable addition to the Idaho-Maryland gold project.
The mill site property is located directly adjacent to the Brunswick mine shaft, where the company currently owns 37 acres of surface land. The mill site land previously hosted a major commercial lumber mill and 55,000 square feet of industrial buildings until 1991. All buildings have subsequently been removed. The property has a large levelled area of approximately 40 acres. The mill site has a recycle pond that was constructed in 1988 and used to collect spray runoff from the lumber mill. The pond has a surface area of approximately 3.7 acres and a design capacity of approximately 40 acre-feet. The pond is believed to be lined with a single two-foot layer of clay and was designed by a registered civil engineer.
About Rise Gold Corp.
Rise is an exploration-stage mining company. The company's principal asset is the historical past-producing Idaho-Maryland gold mine located in California. Rise is a U.S. corporation incorporated in Nevada, United States, and maintains its head office in Vancouver, B.C., Canada.
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