Rise Closes $2M Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 5, 2017) - Rise Gold Corp. (CSE:RISE)(CSE:RISE.CN)(CSNX:RISE)(OTC PINK:RYES) ("Rise" or the "Company") is pleased to announce that it has closed the non-brokered private placement announced in its April 11, 2017 news release (the "Financing"). The Financing was slightly oversubscribed as the Company received a very positive response from investors.

The Company has raised a total of $2,072,257 through the sale of 9,009,814 units (each a "Unit") at $0.23 per Unit where each Unit consists of one common share (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional Share at an exercise price of $0.40 until May 5, 2019. The Company will pay finders' fees in accordance with CSE policies of a total of $101,772 and issue a total of 442,489 finders' warrants (each a "Finders' Warrant") where each Finders' Warrant entitles the holder to acquire one Share at a price of $0.40 until May 5, 2019.

The Company also announces that is has dropped its option on the Indata BC property that it held with Eastfield Resources Inc.

The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States except in compliance with exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About Rise Gold Corp.

Rise is an exploration stage mining company. The Company's principal asset is the historic past producing Idaho-Maryland Gold Mine located in California, USA. Rise was incorporated in Nevada, USA in 2007 and maintains its head office in Vancouver, British Columbia, Canada.

On behalf of the Board of Directors:

Benjamin Mossman, CEO and Director

Rise Gold Corp.