diff --git a/.github/policies/resourceManagement.yml b/.github/policies/resourceManagement.yml
index f03344890101..50d4fd36031d 100644
--- a/.github/policies/resourceManagement.yml
+++ b/.github/policies/resourceManagement.yml
@@ -441,18 +441,18 @@ configuration:
           branch: main
       then:
       - addMilestone:
-          milestone: 10.0-preview7
+          milestone: 10.0-rc1
       description: '[Milestone Assignments] Assign Milestone to PRs merged to the `main` branch'
     - if:
       - payloadType: Pull_Request
       - isAction:
           action: Closed
       - targetsBranch:
-          branch: release/10.0-preview6
+          branch: release/10.0-preview7
       then:
       - removeMilestone
       - addMilestone:
-          milestone: 10.0-preview6
+          milestone: 10.0-preview7
       description: '[Milestone Assignments] Assign Milestone to PRs merged to release/10.0-preview1 branch'
     - if:
       - payloadType: Issues
diff --git a/eng/Versions.props b/eng/Versions.props
index b2eff951f7e7..ab3af5beb2e2 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -9,7 +9,7 @@
     <AspNetCoreMajorVersion>10</AspNetCoreMajorVersion>
     <AspNetCoreMinorVersion>0</AspNetCoreMinorVersion>
     <AspNetCorePatchVersion>0</AspNetCorePatchVersion>
-    <PreReleaseVersionIteration>7</PreReleaseVersionIteration>
+    <PreReleaseVersionIteration>1</PreReleaseVersionIteration>
     <ValidateBaseline>true</ValidateBaseline>
     <IdentityModelVersion Condition="'$(IsIdentityModelTestJob)' != 'true'">8.0.1</IdentityModelVersion>
     <IdentityModelVersion Condition="'$(IsIdentityModelTestJob)' == 'true'">*-*</IdentityModelVersion>
@@ -18,8 +18,8 @@
     -->
     <StabilizePackageVersion Condition="'$(StabilizePackageVersion)' == ''">false</StabilizePackageVersion>
     <DotNetFinalVersionKind Condition="'$(StabilizePackageVersion)' == 'true'">release</DotNetFinalVersionKind>
-    <PreReleaseVersionLabel>preview</PreReleaseVersionLabel>
-    <PreReleaseBrandingLabel>Preview $(PreReleaseVersionIteration)</PreReleaseBrandingLabel>
+    <PreReleaseVersionLabel>rc</PreReleaseVersionLabel>
+    <PreReleaseBrandingLabel>RC $(PreReleaseVersionIteration)</PreReleaseBrandingLabel>
     <IncludePreReleaseLabelInPackageVersion>true</IncludePreReleaseLabelInPackageVersion>
     <IncludePreReleaseLabelInPackageVersion Condition=" '$(DotNetFinalVersionKind)' == 'release' ">false</IncludePreReleaseLabelInPackageVersion>
     <AspNetCoreMajorMinorVersion>$(AspNetCoreMajorVersion).$(AspNetCoreMinorVersion)</AspNetCoreMajorMinorVersion>