Rise Gold's mine right denied by court; plans appeal, eyes $400M claim

Rise Gold Corp. announced that the Superior Court of California denied its Writ of Mandamus, which sought to compel Nevada County to recognize its vested right to operate the Idaho-Maryland Mine without a permit. While the Court acknowledged Rise's constitutional right vested in 1954, it ruled that the right was abandoned by 1963, despite evidence presented by the company. Rise Gold believes the ruling is erroneous and plans to appeal. If the appeal fails, the company intends to pursue a Fifth Amendment "takings action" against the County, estimating the mineral estate's value at least $400 million.