RYES — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-10-29

• On November 19, 2019, Rise commenced the formal permitting to obtain a Conditional Use Permit to reopen the past producing Idaho-Maryland Mine (the "I-M Mine"). The Company proposes redevelopment of the historic underground mine at an average throughput of 1,000 tons per day. The existing Brunswick …

• The Company would produce barren rock from underground tunnelling and sand tailings as part of the project which would be used for creation of approximately 58 acres of level and useable industrial zoned land for future economic development in the County. A water treatment plant and pond, using conv…

• Detailed studies by professionals in the fields of civil and electrical engineering, biology, hydrology, cultural resources, traffic, air quality, human health, vibration, and sound have guided the design of the project. Approximately 300 employees would be required if the mine reaches full producti…

• On December 14, 2023, the Nevada County Board of Supervisors (the "Supervisors") adopted a resolution denying Rise's petition for confirmation of its vested rights to operate the Idaho-Maryland mine. Subsequently, on February 16, 2024, the County adopted a resolution, in a public hearing, denying th…

• Rise has elected to pursue its vested rights through the court system and, if successful, continue the path to reopen the I-M Mine. If unsuccessful, the Company plans to pursue a takings lawsuit against Nevada County under the United States and California Constitutions. The 5th Amendment of the US C…

Text removed vs the prior filing · source: 10-K · 2025-10-29

• On September 12, 2025, the Court signed a stipulation from the County and Rise providing that Rise would submit its initial brief on the case on September 15, 2025, the County will submit its opposition by November 18, 2025, Rise will reply by December 5, 2025, and oral arguments will take place on …

• On October 24, 2025, the Company closed a financing and raised US$7,000,000 through the issuance of up to 36,585,361 units at a price of US$0.25 per Unit, with each unit comprising one share of common stock and one share purchase warrant. Each whole warrant entitles the holder to acquire one share o…

• On May 22, 2025, the Company granted a total of 3,320,000 stock options to directors, officers, and consultants of the Company. The stock options are exercisable at a price of US$0.10 per share until May 22, 2030.

• On May 16, 2025, the Company entered into an agreement to sell its drilling equipment for a sale price of $200,000. $100,000 was received on June 6, 2025 and subsequent payments of $50,000 payable for each of the two drilling rigs sold are to be received when each rig drills its first hole to a dept…

• On May 8, 2025, the Company closed a financing and raised $3,000,000 through the issuance of up to 36,585,361 units at a price of US$0.082 per Unit (~CDN$0.11), with each unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to a…

Text added vs the prior filing · source: 10-K · 2026-10-29

• In addition, we may incur significant legal costs going forward as we seek to protect our property rights under both California state and U.S. federal law, including asserting our 5th Amendment Rights under the U.S. Constitution and other due process rights under the 14th Amendment of the U.S. Const…

• Although the Trump Administration has shifted the focus of the U.S. government away from environmental, social, and governance (ESG) matters, continuing efforts to address such matters may negatively impact our business.

• Our proposed operations, including exploration and, if warranted, development and operation of the I-M Mine Property, require permits from governmental authorities and will be governed by laws and regulations, including:

• The Use Permit application submitted by Rise in 2019 proposed underground mining to recommence at the I-M Mine Property at an average throughput of 1,000 tons per day. The existing Brunswick Shaft, which extends to ~3400 feet depth below surface, would be used as the primary rock conveyance from the…

• We proposed to produce barren rock from underground tunneling and sand tailings as part of the project which would be used for creation of approximately 58 acres of level and useable industrial zoned land for future economic development in the County. A water treatment plant and pond, using conventi…

Text removed vs the prior filing · source: 10-K · 2025-10-29

• In addition, the Company may incur significant legal costs going forward should it decide to litigate in pursuit of protecting its property rights under both California state and U.S. federal laws, including asserting its 5th Amendment rights under the U.S. Constitution and other due process rights …

• Increasing attention to environmental, social, and governance (ESG) matters may impact our business.

• We believe that mining operations on the I-M Mine Property are a vested use, protected under the California and federal Constitutions, and that a use permit is not required for mining operations to continue. The Company owns the I-M Mine Property, consisting of 109 acres of surface land and a 2,560 …

• For the vested right to be recognized by the County, the Company needs to demonstrate that mine operations were being conducted both before and immediately after the County first required a permit to mine in 1954. The Petition and its exhibits are replete with historical evidence that mining was con…

• Once vested, this right to mine endures unless it is abandoned, which the Company contends has not occurred. Abandonment only occurs if two conditions are met: (1) there is evidence of a property owner's actual intent to abandon the vested mining right; and (2) an overt act (or failure to act) demon…

Text added vs the prior filing · source: 10-K · 2026-10-29

• Impairment of deferred financing asset (Note 11) (67,610 ) -

• Increase in mineral exploration costs to $1,007,029 (2025 - $96,520) of which $601,102 related to the preparation and commencement of the 2026 drilling program;

• Increase of professional fees incurred to $1,636,655 (2025 - $549,923) related to the Vested Rights litigation and CEA dispute;

• Increase in consulting fees to $304,244 (2025 - $221,925); Consulting fees include a termination payment of $161,700 made to the previous CEO.

• Increase in salaries paid to $128,709 (2025 - $NIL), as of our current CEO is an employee of the Company (the previous CEO was providing services through a consulting agreement);

Text removed vs the prior filing · source: 10-K · 2025-10-29

• Gain on fair value adjustment on derivative liability (Note 11) - 140,015

• Decrease in mineral exploration costs to $96,520 (2024 - $808,832) related to activities surrounding the Vested Rights and Use Permit application and hearings;

• Decrease in consulting and professional fees to $221,925 and $549,923 respectively (2024 - $310,718 and $1,000,394, respectively) as the Company incurred fewer advisory fees in 2025 compared to 2024 when the Company reviewed its litigation options relating to its Vested Rights;

• Significant non-operating items include write down of the value of the drilling equipment (loss of $411,530; 2024 - $Nil); note receivable sold at a discount to generate cash (loss of $155,727; 2024 - $Nil); accounting loss recognized with the repayment of the loans in May 2025 on the value of the w…

• During the year ended July 31, 2025, the Company used $1,169,386 in net cash on operating activities, compared to $2,213,199 in net cash on operating activities during the prior year. The higher amount of net cash used in operating activities during the prior year was due mainly to higher profession…