Mr. Joseph Mullin reports

RISE GOLD INCREASES EQUITY FINANCING TO US$1,000,000

Rise Gold Corp. has increased the size of the non-brokered private placement previously announced in its April 9, 2024, news release from $750,000 (U.S.) to $1-million (U.S.) through the issuance of up to 10,526,316 units at a price of 9.5 U.S. cents per unit (about 12.8 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 15.8 U.S. cents for a period of three years from the date of issuance.

Rise Gold will use the proceeds from the private placement for general working capital. All securities issued pursuant to the offering will be subject to statutory hold periods in accordance with applicable United States 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. It is anticipated that some or all of the funds received from certain directors will be used to pay accrued and unpaid debt owed by the corporation to the respective director, such debts totalling, in aggregate, approximately $100,000 (U.S.).

About Rise Gold Corp.

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

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