History
A Mexican silver shell that failed at several deals found its footing in 2017 with California's Idaho-Maryland gold mine, still awaiting permits in March 2026.
2012-2014: Mexican projects and failed deals
The company began as a shell. In May 2012 it took over an option to acquire 50% of the La Buena gold-silver project in Zacatecas, Mexico, paying Skanderbeg Capital $100,000 and assuming obligations to the owner, San Marco Resources: up to 2.5 million shares, $300,000 in cash and $6 million of exploration spending through 2014. By August 2012 the deal had closed and the company left shell status.
In November 2012 it signed a letter of intent with Bearing Resources to earn up to 75% of the KM 66 silver-gold project in Durango, Mexico. In January 2013 it said it would not proceed with the La Buena joint venture, and in May 2013 the KM 66 agreement collapsed when Bearing terminated its own option with the property owners. The company again had no mineral asset.
It then turned away from mining. In November 2013 it signed a letter of intent to buy eBook software maker Wundr Software Inc., issuing 55 million shares. That did not complete. A second reverse-merger, a May 2014 share exchange with Juliet Press Inc., was mutually terminated in September 2014, under a new CEO, Greg Johnston.
2015-2016: Rise Resources and British Columbia
In May 2015 the company, which became Rise Resources Inc. in 2015, left shell status again by taking an option with Eastfield Resources to earn up to 75% of the Indata property in British Columbia for up to $450,000 cash plus $2.5 million of exploration spending. Shares on issue fell from 63,400,000 to 25,296,993 by the end of 2015; the beats do not explain the drop. In June 2016 it agreed to buy a second British Columbia property from Klondike Gold Corp for about CAD$200,000 plus shares and warrants, with Klondike keeping a 2% royalty.
The turning point came in October 2016. Under new CEO Benjamin Mossman, the company took an option to buy a historic high-grade U.S. gold mine, paying a $25,000 deposit against a $2 million exercise price, and launched a $3.5 million private placement.
2017-2019: Idaho-Maryland and strategic backers
In January 2017 the company closed a CAD$4.2 million placement of 21,044,500 units at CAD$0.20, and on January 26 completed the $2 million purchase of the Idaho-Maryland Gold Mine near Grass Valley, California. The mine had been the second-largest U.S. gold mine in 1941 before a government-ordered shutdown in 1942. The purchase brought 93 acres of surface land and 2,750 acres of mineral rights, free of royalties. On March 29, 2017 the company formally became Rise Gold Corp.
Funding continued through repeated placements: CAD$2.07 million at CAD$0.23 in May 2017, then a placement of up to 24 million units at CAD$0.15 announced in August, and 35,161,000 units at CAD$0.10 in April 2018. In August 2017 it paid Klondike $100,000 to end that acquisition, leaving British Columbia entirely. In January 2018 it announced assay results from its Idaho-Maryland drill program. In December 2018 the first hole into the 52 Vein area returned 149.3 gpt over 6.8 metres, and in March 2019 the Idaho Vein hit 90.4 gpt over 4.27 metres, including a 458 gpt interval.
In October 2018 Yamana Gold, through a subsidiary, invested C$1.75 million, gaining a board nomination right and the right to keep up to 19.9% ownership. Southern Arc Minerals took the remaining C$750,000 in November. Yamana advanced a further C$1.0 million convertible debenture in February 2019. In September 2019 the company borrowed US$1 million from Eridanus Capital, with 11,500,000 warrants. Shares on issue grew from 33,266,261 at the end of 2016 to 220,459,647 at the end of 2019. A permit application was filed with Nevada County in November 2019.
2020-2025: Permitting, small raises and land sales
By March 2020 the company said land-use approval was expected 12-18 months away; it had not been granted by March 2026. In July 2020 it offered up to 4,400,000 units at US$0.75. Share counts fell to 26,770,298 at the end of 2020, a drop the beats do not explain. A January 2022 placement raised US$2,407,000 at US$0.40, and in February 2022 testwork achieved 98.7% gold recovery. In early 2023 it raised US$3,000,000 at US$0.40 in two tranches, with directors participating.
In February 2024 it opened a credit facility of up to US$1,000,000 against a services provider's fees. In October 2024 it borrowed US$500,000 from Myrmikan Capital, whose managing member, director Daniel Oliver Jr., is a Rise Gold director. In November 2024, under new CEO Joseph Mullin, it agreed to sell 66 acres of non-core land beside the mine for $4.3 million in two tranches, keeping a right to buy it back once final mining approval came. In May 2025 it closed a US$3,000,000 placement of 36,585,361 units at US$0.082. The second land tranche, $2.5 million, closed in June 2025; part of it repaid the remaining secured debt, and the rest was set aside for operations and legal claims against Nevada County. In October 2025 it closed a US$7,000,000 placement of 28,000,000 units at US$0.25.
2026: A new partner
On March 4, 2026, under new CEO David Watkinson, the company signed an 18-month strategic development partnership with Morgan Hughes Energy to advance Idaho-Maryland as a U.S. critical-minerals project. It would issue up to 18 million milestone-vesting warrants and offer Morgan Hughes a board seat if it built a stake of 5% or more. At that date, with 127,543,837 shares on issue, the mine still lacked final government approval to operate.
Written from the 39 story beats below (2012 to 4 Mar 2026), which come from the company's own announcements and filings.