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Enter Symbol
or Name
USA
CA



Rise Gold Corp
Symbol RISE
Shares Issued 116,105,982
Close 2018-06-06 C$ 0.125
Market Cap C$ 14,513,248
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Rise Gold buys two diamond drill rigs for $611,000

2018-06-07 10:25 ET - News Release

Mr. Benjamin Mossman reports

RISE PURCHASES EXPLORATION DRILL RIGS

Rise Gold Corp. has purchased two diamond core drilling rigs for exploration at the Idaho-Maryland gold project.

Rise Gold has purchased a powerful deep hole rig (rig No. 1) capable of drilling HQ-size core to depths up to 2,050 metres (6,750 feet) and NQ-size core to depths up to 2,745 metres (9,000 feet). Rise Gold also purchased a smaller drill rig (rig No. 2), which will be modified by the company to achieve depths with NQ-size core up to 900 m (2,950 feet).

The company will operate the drill rigs with its own employees and rig No. 1 will be in operation before mid-June. The company believes that it can achieve significant cost savings and productivity improvements through the operation of its own drill rig for exploration at the I-M gold project. Michael Leclerc has been appointed as drill operations manager for Rise Gold and has extensive experience with exploration core drilling.

The drill rigs, drill rods of HQ and NQ-size, and accessories were purchased for a price of $611,000. The purchase was financed by the vendor and will be paid in equal monthly instalments over an 18-month period with an interest rate of 5 per cent per annum.

Drilling to date has been done by contractor drillers and three exploration drill holes (B-18-02, B-18-03 and B-18-04) have been completed since announcing the resumption of drilling at the I-M gold project on April 25, 2018. Multiple quartz veins at the Brunswick mine were successfully intersected below the existing workings and samples have been submitted for assay. The company expects to provide the assay results from these drill holes shortly.

About Rise Gold Corp.

Rise Gold is an exploration-stage mining company. The company's principal asset is the historic past-producing Idaho-Maryland gold mine located in Nevada county, California, United States. The Idaho-Maryland gold mine is one of the United States' greatest past-producing gold mines with total past production of 2,414,000 ounces of gold at an average mill head grade of 17 grams per tonne gold from 1866 to 1955.

Benjamin Mossman, PEng, chief executive officer of Rise Gold, is the qualified person responsible for the technical content of this news release.

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