Rise Gold Corp.

What they do

The company owns the I-M Mine Property outright through its wholly owned Nevada subsidiary, Rise Grass Valley Inc., and is an exploration-stage enterprise with no reported revenue in any period shown. Its activity centers on a legal effort to have Nevada County, California recognize a constitutionally protected vested right to mine the property without a use permit. Its common stock trades in Canada on the CSE under "RISE" and in the U.S. on the OTCQB under "RYES."

Revenue drivers

• Gold mining at the I-M Mine Property — The company's intended source of revenue is mining the Idaho-Maryland Gold Mine property. No revenue has been realized; recent quarterly revenue figures are $0.00, and the property cannot be operated unless the vested-rights litigation succeeds.
• Asset sales — Funds have come from disposing of non-core assets rather than operations. Rise sold three non-core surface parcels to repay debt and fund the writ litigation, and contracted to sell its drilling equipment for $200,000.
• Industrial land sale — On November 27, 2024 the company contracted to sell 66 acres of industrial land adjacent to the I-M Mine Property for $4.3 million; the first agreement covered 16 acres for $1.8 million and closed that day with half the price paid and the balance due November 27, 2026.
• Equity financings — The company funds itself by issuing units of common stock and warrants rather than from operations. It raised $3,000,000 in May 2025 at $0.082 per unit and $7,000,000 in October 2025 at $0.25 per unit.

Recent performance

The company has reported no revenue; the quarterly revenue figures in the data are $0.00. Annual net losses were $1.6M in 2021, $3.5M in 2022, $3.7M in 2023, $3.6M in 2024, and $3.3M in 2025, with diluted EPS of $-0.06, $-0.12, $-0.10, $-0.08, and $-0.05 respectively. Operating cash outflow narrowed each year, from $-2.9M in 2021 to $-1.2M in 2025. As of April 30, 2026 the balance sheet showed $9.5M of total assets, $670,071 of total liabilities, $8.8M of shareholder equity, and $8.0M of cash and equivalents.

Strategy

The central priority is the legal campaign to establish a vested right to mine the I-M Mine Property without a county use permit, which management pursued through a Writ of Mandamus after Nevada County rejected its petition in December 2023. The company has funded that litigation and paid down debt by selling non-core surface parcels and, on May 16, 2025, its drilling equipment for $200,000. It has repeatedly raised equity, including $3,000,000 in May 2025 and US$7,000,000 in October 2025 through unit offerings with attached warrants, and granted options to directors, officers, and consultants in March and May 2025. The company also contracted to sell 66 acres of adjacent industrial land for $4.3 million.

Risks

• Litigation failure could eliminate the asset's value — On May 7, 2026 the Court denied the Writ of Mandamus; the company plans to appeal, and it states that should the Writ fail on appeal, Rise's mineral estate will lose all value.
• No revenue and going-concern dependence — The company is an exploration-stage enterprise with no revenue, and management states that its ability to continue as a going concern depends on shareholder and creditor support and on raising additional capital.
• Clean Water Act citizen suit — A citizen suit by the Community Environmental Advocates Foundation proceeds against subsidiary Rise Grass Valley Inc.; on May 18, 2026 the District Court for the Eastern District of California granted summary judgment as to liability, with trial on remaining issues set for July 12, 2027.
• Dilution from repeated equity financings — The company has funded itself through multiple unit offerings, including US$7,000,000 in October 2025 at $0.25 per unit with warrants exercisable at US$0.45, which dilutes existing holders.

Outlook

Management's stated path is to appeal the May 7, 2026 denial of its Writ of Mandamus in California Superior Court and to continue litigating its vested right to mine. It has said that if the Writ fails on appeal, the mineral estate loses all value and the company could bring a Fifth Amendment takings action against the County, which it says could yield just compensation based on a conservative estimate of at least $400 million for the mineral estate. The company has also stated it believes it can raise sufficient working capital to meet projected minimum financial obligations for the next fiscal year, and it is defending the Clean Water Act citizen suit, with trial scheduled for July 12, 2027.