RYES · Rise Gold Corp.

These shares were acquired upon the holder's receipt of fully vested RSUs as reported in Table II.

Fully vested on the date of grant.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

Fully vested on the date of grant.

These RSUs were automatically converted into the right to receive shares of the issuer's Common Stock upon vesting.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

These shares were acquired upon the holder's receipt of fully vested RSUs as reported in Table II.

Fully vested on the date of grant.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

Fully vested on the date of grant.

These RSUs were automatically converted into the right to receive shares of the issuer's Common Stock upon vesting.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

These shares were acquired upon the holder's conversion of RSUs as reported in Table II.

Fully vested on the date of grant.

These RSUs were converted by the holder into shares of the issuer's Common Stock, as reported in Table I.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

Fully vested on the date of grant.

The reporting person is entitled to receive one share of the issuer's Common Stock for each vested RSU.

The reporting person is entitled to receive one share of the issuer's Common Stock for each DSU held upon ceasing to be an Eligible Person as defined in the issuer's Long-Term Incentive Plan. "Eligible Person" means a Director, Officer, Employee, Management Company Employee, or Consultant of the Issuer or a subsidiary of the Issuer.

Fully vested on the date of grant, subject only to the approval of the issuer's Long-Term Incentive Plan at the issuer's annual general meeting of stockholders to be held on 11-19-25.

The reporting person is entitled to receive one share of the issuer's Common Stock for each DSU held upon ceasing to be an Eligible Person as defined in the issuer's Long-Term Incentive Plan. "Eligible Person" means a Director, Officer, Employee, Management Company Employee, or Consultant of the Issuer or a subsidiary of the Issuer.

Fully vested on the date of grant, subject only to the approval of the issuer's Long-Term Incentive Plan at the issuer's annual general meeting of stockholders to be held on 11-19-25.

The common share purchase warrants held by the Reporting Persons (the "Warrants") are subject to a beneficial ownership limitation set forth in the Warrant Certificate governing the Warrants such that the Warrants are exercisable for Common Shares by a holder only to the extent the holder, together with its affiliates and any other person acting as a group with the holder, would not beneficially own more than 19.99% of the outstanding Common Shares after giving effect to such exercise, as such percentage ownership is determined in accordance with the Warrant Certificate (the "Beneficial Ownership Limitation"), except that upon at least 61 days' prior notice from the holder to the issuer, the holder may terminate the Beneficial Ownership Limitation. The Reporting Persons disclaim beneficial ownership of any Common Shares into which the Warrants would be exercisable but for the application of the Beneficial Ownership Limitation.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The holder and the issuer have entered into a warrant standstill agreement dated 4-9-24, as amended and restated on May 8, 2025 with respect to Mr. Oliver and October 24, 2025 with respect to the Fund, pursuant to which the holder has agreed not to exercise these warrants. The agreement will remain in effect until terminated upon 61 days' written notice to the issuer from the holder. On that basis, the holder does not beneficially own the shares of common stock underlying the warrants, as defined for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended.

The common share purchase warrants held by the Reporting Persons (the "Warrants") are subject to a beneficial ownership limitation set forth in the Warrant Certificate governing the Warrants such that the Warrants are exercisable for Common Shares by a holder only to the extent the holder, together with its affiliates and any other person acting as a group with the holder, would not beneficially own more than 19.99% of the outstanding Common Shares after giving effect to such exercise, as such percentage ownership is determined in accordance with the Warrant Certificate (the "Beneficial Ownership Limitation"), except that upon at least 61 days' prior notice from the holder to the issuer, the holder may terminate the Beneficial Ownership Limitation. The Reporting Persons disclaim beneficial ownership of any Common Shares into which the Warrants would be exercisable but for the application of the Beneficial Ownership Limitation.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

The common share purchase warrants held by the Reporting Persons (the "Warrants") are subject to a beneficial ownership limitation set forth in the Warrant Certificate governing the Warrants such that the Warrants are exercisable for Common Shares by a holder only to the extent the holder, together with its affiliates and any other person acting as a group with the holder, would not beneficially own more than 19.99% of the outstanding Common Shares after giving effect to such exercise, as such percentage ownership is determined in accordance with the Warrant Certificate (the "Beneficial Ownership Limitation"), except that upon at least 61 days' prior notice from the holder to the issuer, the holder may terminate the Beneficial Ownership Limitation. The Reporting Persons disclaim beneficial ownership of any Common Shares into which the Warrants would be exercisable but for the application of the Beneficial Ownership Limitation.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The common share purchase warrants held by the Reporting Persons (the "Warrants") are subject to a beneficial ownership limitation set forth in the Warrant Certificate governing the Warrants such that the Warrants are exercisable for Common Shares by a holder only to the extent the holder, together with its affiliates and any other person acting as a group with the holder, would not beneficially own more than 19.99% of the outstanding Common Shares after giving effect to such exercise, as such percentage ownership is determined in accordance with the Warrant Certificate (the "Beneficial Ownership Limitation"), except that upon at least 61 days' prior notice from the holder to the issuer, the holder may terminate the Beneficial Ownership Limitation. The Reporting Persons disclaim beneficial ownership of any Common Shares into which the Warrants would be exercisable but for the application of the Beneficial Ownership Limitation.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The Reporting Persons acquired units ("Units") from the Issuer consisting of one share of common stock and one common share purchase warrant for a price of $0.25 per Unit.

Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.

EPIM is the investment advisor to Equinox Partners, L.P., Equinox Partners Precious Metals Master Fund, LP, and Mason Hill Partners, LP (collectively, the "Funds"). Mr. Fieler is the president of EPIM. By virtue of these relationships, each of EPIM and Mr. Fieler may be deemed to beneficially own the securities owned directly by the Funds.

The holder and the issuer have entered into a warrant standstill agreement dated 4-9-24, as amended and restated on May 8, 2025, pursuant to which the holder has agreed not to exercise these warrants. The agreement will remain in effect until terminated upon 61 days' written notice to the issuer from the holder. On that basis, the holder does not beneficially own the shares of common stock underlying the warrants, as defined for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended.

The holder and the issuer have entered into a warrant standstill agreement dated 4-9-24, as amended and restated on May 8, 2025, pursuant to which the holder has agreed not to exercise these warrants. The agreement will remain in effect until terminated upon 61 days' written notice to the issuer from the holder. On that basis, the holder does not beneficially own the shares of common stock underlying the warrants, as defined for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended.

203,103 options vested on 3-25-25 and 101,551 additional options will vest on each of 6-25-25, 9-25-25, 12-25-25, 3-25-26, 6-25-26 and 9-25-26