Mr. Joseph Mullin reports

RISE GOLD ANNOUNCES US$750,000 FINANCING

Rise Gold Corp. intends to raise up to $750,000 (U.S.) through the issuance of up to 4,166,667 units at a price of 18 U.S. cents per unit (approximately 25 Canadian cents per unit), with each unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one share at an exercise price of 26 U.S. cents for a period of two years from the date of issuance. The company may pay finders' fees to eligible persons in accordance with applicable securities laws and regulatory policies. This proposed financing supersedes the financing announced on Sept. 26, 2023.

The company will use the proceeds from the private placement for general working capital. All securities issued pursuant to the private placement will be subject to statutory hold periods in accordance with applicable U.S. and Canadian securities laws.

Certain directors and/or officers of the company, directly, through entities controlled by them, or through entities for which they exercise control or direction over investment decisions may participate in the private placement. The participation of each of such insiders in the private placement would constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company will be relying on exemptions from the formal valuation requirements of Section 5.4 of MI 61-101 and minority shareholder approval requirements of Section 5.6 of MI 61-101. As the fair market value of the related party's participation is not more than 25 per cent of the company's market capitalization, the related-party transactions are exempt from the formal valuation requirements pursuant to Subsection 5.5(a) of MI 61-101 and from the minority approval requirements pursuant to Subsection 5.7(1)(a) of MI 61-101.

The company anticipates a first closing in early November, 2023.

About Rise Gold Corp.

Rise Gold is an exploration-stage mining company incorporated in Nevada, United States. The company's principal asset is the historic past-producing Idaho-Maryland gold mine located in Nevada county, California, United States.

We seek Safe Harbor.