Rise Gold names Watkinson as President, CEO
Rise Gold Corp. [RISE-CSE, RYES-OTCQB] has named David Watkinson as President and CEO, in the hope that he can unlock value at the company’s flagship Idaho-Maryland-Brunswick Mine (the I-M Mine) in Nevada County, California.
While joining the Rise board of directors, Watkinson has also been named President of the company’s wholly owned operating subsidiary Rise Grass Valley Inc.
He succeeds Joe Mullin who resigned from the board of directors and as President and CEO, effective November 20, 2025 in order to pursue a new opportunity.
The announcement comes after Rise recently closed a non-brokered private placement of units that raised US$7.0 million. The financing consisted of 28 million units priced at US$0.25 each (CDN $0.35). Each unit consists of one common share and one common share purchase warrant, each of which entitles the holder to purchase an additional share at an exercise price of US$0.45 (CDN $0.63) until October 24, 2028.
Rise said proceeds will be used to support the company’s efforts to advance the I-M Mine.
The shares were unchanged Friday at 23 cents and trade in a 52-week range of 32 cents and $0.039.
Watkinson brings 40 years of professional engineering experience in underground and open pit mine development after previously holding senior positions with Placer Dome Inc., Kinross Gold Corp. (K-TSX, KGC-NYSE), Thyssen Mining Construction of Canada, and Vulcan Materials Corp. He was also President and CEO of Emgold Mining Corp., which controlled Rise’s wholly owned I-M mine for approximately 25 years prior to Rise’s purchase of the property.
“Mr. Watkinson brings decades of technical knowledge about the I-M Mine and has kept an office in Nevada County for approximately 20 years, making him known and respected in the local community,’’ said Rise Chairman Dan Oliver. “The board of directors is confident that Watkinson’s leadership will help unlock the value of the I-M Mine.’’
The I-M Mine operated nearly continuously from 1982 to 1957, producing an estimated 2.4 million ounces of gold at an average mill head grade of 17.1 g/t. From December 1955 through 1957, the mine produced tungsten with financial support from the Department of Defense. In 2024, the company filed a writ of mandamus against Nevada County after the County’s supervisors failed to recognize Rise’s constitutionally protected vested right to operate the I-M Mine. The company expects a verdict on the writ in the first quarter of 2026.
“Mullin joined the company at a particularly challenging time, as the County was denying approval of the County’s own 40,000-page Environmental Impact Report that noted only three significant impacts from the I-M Mining project: temporary construction noise, traffic at a single intersection already operating above capacity, and visual changes at the project site,’’ said Oliver. “He leaves the company with a full treasury and a legal team committed to resisting the County’s attempts to convert Rise’s property for public use without compensation,’’ he said. In a press release on November 4, 2025, the company said it has commenced a review of its tungsten exploration targets at the I-M Mine.