Final EIR Being Prepared For The Idaho-Maryland Mine

GRASS VALLEY, CA — Rise Gold Corp. reported that the County of Nevada is currently preparing the Final Environmental Impact Report (Final EIR) for the Idaho-Maryland Mine Project. The Nevada County government released the Draft Environmental Impact Report (DEIR) for the Idaho-Maryland Mine Project (IMM Project) on January 4, 2022. The report's release was a major milestone toward the approval of the Company's Use Permit Application to reopen the historic past-producing Idaho-Maryland Gold Mine. The 91-day public comment ended on April 4, 2022. The County received approximately 2,850 comment letters during the comment period of which the majority (~1,600 comment letters) expressed support for the Project. In addition, the Company received over 200 additional support letters after the close of the comment period, which will not be included in the Final EIR. The number of support letters is unprecedented compared to the four recently approved EIRs in Nevada County . The level of support for the Project bolsters last year's survey results which show a majority (59%) of respondents supporting the reopening of the Idaho-Maryland Mine, with only 34% of respondents opposed.

The independently prepared DEIR was the culmination of two years of intensive study by the Nevada County government with the support of its consultant, Raney Planning & Management Inc., an experienced firm located in Sacramento, and contributions from many qualified technical experts and scientists. The DEIR concluded that there are no significant impacts to air quality, biological resources, water quality, groundwater, vibrations, or noise from operations from the proposed re-opening of the Idaho-Maryland Gold Mine.

A general outline of the remaining milestones in the Use Permit Application process is as follows: 1) Nevada County will publish a Final Environmental Impact Report (the "Final EIR") which will include responses to public comments. 2) The Nevada County Planning Commission will hold a public hearing to consider the Final EIR and make a recommendation on project approval to the Nevada County Board of Supervisors. 3) The Board of Supervisors will hold a public hearing to consider and make a final decision on the IMM Project. A majority vote of the five supervisors is required to approve the project.

The timeline to complete the Use Permit Application process largely depends on the Nevada County government and the completion of the Final EIR. The Company estimates that the Final EIR will be published in late summer or early fall of 2022 and public hearings and an approval decision on the Use Permit in late fall or early winter of 2022.