Rise Gold Commences Review of Its Tungsten Exploration Targets at the Idaho-Maryland Mine, CA

Executive Summary

• Rise Gold Corp. has initiated a review of historic data indicating that its wholly‑owned Idaho‑Maryland (I‑M) mine may host significant tungsten resources, a metal listed on the U.S. DOE 2023 Critical Metals List.
• The review will be performed by qualified consultants David Watkinson, P.Eng., and Robert Pease, C.P.G., who may recommend re‑assaying existing drill cores and pulps to quantify the tungsten potential.
• The company highlights historic production of both gold (≈2.4 M oz) and tungsten (≈3,086 st at 1.30 % WO₃ in 1955; ≈5,898 st at 0.83 % WO₃ in 1956), positioning the asset as a potential domestic source of a critical defense mineral.

Key Details

• Historical Context – The I‑M mine operated from 1862–1957, producing ~2.4 million ounces of gold at an average grade of 0.50 oz/ton (17.1 g/t).
• Tungsten Production History – In the mid‑1950s the mine shifted to tungsten extraction, processing scheelite to produce a WO₃ concentrate; production ceased in 1957 after price collapse and loss of defense program funding.
• Critical Metal Status – Tungsten is on the DOE’s 2023 Critical Metals List; the U.S. has lacked domestic tungsten supply since 2015, with China supplying ~84 % of global output. Recent export restrictions (Feb 2025) heighten strategic interest.
• Consultants Engaged – David Watkinson, P.Eng. (former President/CEO of Emgold Mining Corp.) and Robert Pease, C.P.G. (former Chief Geologist of Emgold) will conduct the initial data review and develop work recommendations.
• Potential Work Scope – Recommendations may include re‑assaying historic drill cores, pulps, and other legacy material to verify tungsten grades and tonnage.
• CEO Commentary – Joe Mullin emphasized the mine’s long association with tungsten, its historical production figures, and the alignment with U.S. critical mineral policy (including a March 2025 executive order expanding the list to include gold).
• Qualified Person Statement – All scientific and technical information reviewed and approved by David Watkinson, P.Eng., an independent Qualified Person under NI 43‑101.

Notable Quotes

“The mining property's long association with tungsten… is the reason the U.S. Defense Department selected the I‑M Mine for tungsten exploration and development following the Korean War.” – Joe Mullin, President & CEO, Rise Gold Corp.

“Tungsten was already classified as a critical mineral by the federal government, and a March 2025 executive order expanded the list to include gold, making the I‑M Mine an ideal project for federal sponsorship as the United States restores its critical defense industries.” – Joe Mullin, President & CEO, Rise Gold Corp.