Revival GOLD 2024 Year IN Review
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REVIVAL GOLD 2024 YEAR IN REVIEW
Toronto, ON – December 30th, 2024 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold”
or the “Company”) is pleased to provide a review of the Company’s key accomplishments over the
past year delivering value for our owners and advanc ing Revival Gold’s portfolio of exciting gold
development projects located in the western United States.
Highlights
• Revival Gold realized its ambition to grow potential heap leach gold production and
enhance the Company’s path to production by acquiring Ensign Minerals Inc. (“Ensign”), a
private company and the owner of the Mercur Gold Project (“Mercur”), an attractive past-
producing gold project located in Utah. The acquisition delivered a complementary 6,300 -
hectare gold project with Inferred Mineral Resources of 89.6 million tonnes at 0.57 g/T
containing 1.6 million ounces of gold1.
• In connection with the purchase of Mercur , Revival Gold completed a C$7.2 million equity
financing in May bringing in Sun Valley Gold LLC and Libra Advisors LLC as well-regarded
new institutional investors in the Company.
• The Company immediately commenced metallurgical test work on Mercur and, in
September, reported an 84% average recovery from five column leach composite tests
undertaken on representative samples at Mercur. The c olumns demonstrated rapid leach
kinetics with 90% of gold leached reporting to solution after only five days2.
• Work continued at Mercur with Kappes Cassiday & Associates and RESPEC Company LLC
having been engaged to complete an updated Mineral Resource estimate and Preliminary
Economic Assessment (“PEA”) by the end of Q1-2025.
• At the Beartrack-Arnett Gold Project (“Beartrack -Arnett”) located in Idaho , Revival Gold
restructured and extended the Company’s earn-in agreement (“Agreement”) with
Meridian Beartrack Co. (a subsidiary of Pan American Silver Corp.) and the owner of the
Beartrack property and related infrastructure . Under the restructuring, the Company
converted an obligation to pay the greater of US$6 per ounce of gold in mineral resource or
US$15 per ounce of gold in mineral reserve on the third anniversary of the closing of the
Agreement, into a 0.3% Net Smelter Return Royalty on future production. The restructuring
also provides for a three-year extension to the earn -in; thereby deferring the requirement
for Revival Gold to arrange site bonding (US$10.2 million face value) until October 2027.
• During the Spring and Summer of 2024, Revival Gold’s exploration team completed an
extensive exploration targeting exercise to build on the Company’s understanding of the
mineral potential and drill targets south of the Joss deposit and outboard of the Haidee
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deposit at Beartrack -Arnett. The program included 90 line -kilometers of geophysical
surveys, geochemical sampling, field mapping and structural modeling.
• Meanwhile, permitting preparation for the first phase heap leach opportunity envisioned
for Beartrack -Arnett continued with the competition of a draft Plan of Operations this
month. An updated permitting schedule and budget will follow next quarter.
• During the year, the former President of Eldorado Gold, Norm Pitcher, joined the Company’s
Board of Directors and Revival Gold’s exploration leadership was transitioned to the
Company’s accomplished Chief Geologist, Dan Pace.
• Revival Gold continued to maintain an exemplary safety record with zero lost -time
incidents among Company employees and contractors.
1 See “NI 43-101 Technical Report for the Mercur Project, Camp Floyd and Ophir Mining Districts, Tooele & Utah Counties, Utah, USA”
prepared by Lions Gate Geological Consulting Inc., RESPEC Company LLC, and Kappes, Cassidy & Associates, dated May 24
th
, 2024.
2 See Revival Gold news release dated September 9th, 2024.
“Revival Gold transformed its business in 2024 with the addition of the Mercur Gold Project, the
restructuring of its underlying agreement to acquire the Beartrack property , and key personnel
moves to build on the strength of our team. Looking ahead, Revival Gold’s portfolio encompassing
two multi-million-ounce gold systems, some 30,000 acres of highly prospective claims, and credible
development plans for future gold production in the U.S., offers investors exceptional value and
exposure to gold at a time when quality new gold projects are becoming increasingly more scarce,”
said Hugh Agro, President & CEO. “Our team is looking forward to 2025 and we are excited about
Revival Gold’s potential,” added Agro.
Qualified Persons
John P. W. Meyer, P.Eng., Vice President, Engineering & Development, Steven T. Priesmeyer, C.P.G.,
Vice President Exploration, and Dan Pace, Regis. Mem. SME, Chief Geologist, Revival Gold Inc. are
the Company’s designated Qualified Persons for this news release within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects and have reviewed and approved
its scientific and technical content.
About Revival Gold Inc.
Revival Gold is one of the largest, pure gold, mine developers in the United States. The Company is
advancing engineering and economic studies on the Mercur Gold Project in Utah and mine
permitting preparations and ongoing exploration at the Beartrack -Arnett Gold Project located in
Idaho.
Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on
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the OTCQX Market under the ticker symbol “RVLGF”. The Company is headquartered in Toronto,
Canada, with its exploration and development office located in Salmon, Idaho.
Additional disclosure including the Company’s financial statements, technical reports, news
releases and other information can be obtained at www.revival-gold.com or on SEDAR+ at
www.sedarplus.ca.
For further information, please contact:
Hugh Agro, President & CEO, or Lisa Ross, Vice President & CFO
Telephone: (416) 366-4100 or Email: [email protected].
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release includes certain “forward-looking information” within the meaning of Canadian securities
legislation and “forward -looking statements” within the meaning of U.S. securities legislation (collectively
“forward-looking statements”). Forward-looking statements are not comprised of historical facts. Forward-
looking statements include estimates and statements that describe the Company’s future plans, objectives
or goals, including words to the effect that the Company or management expects a stated condition or result
to occur. Forward -looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are
based on assumptions and address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Although these statements are based on information currently available to the
Company, the Company provides no assurance that actual results will meet man agement’s expectations.
Risks, uncertainties, and other factors involved with forward-looking statements could cause actual events,
results, performance, prospects, and opportunities to differ materially from those expressed or implied by
such forward-looking statements.
Forward-looking statements in this document include, but are not limited to, Revival Gold using posi tive
metallurgical test results to support heap leach recovery rate assumptions for a PEA, that the PEA will be
delivered around the end of Q1 -2025, that a draft Plan of Operations will be completed this month and an
updated permitting schedule and budget will follow next quarter , the Company’s plan to acquire Meridian
pursuant to the Agreement, the Amendment allowing the Company to focus on developing Beartrack-Arnett
in a responsible, efficient and expeditious manner without the burden of a large payment obligation in
advance of production, the Company’s objectives, goals and future plans, and statements of intent, the
implications of exploration results, mineral resource/reserve estimates and exploration and mine
development plans. Factors that could cause actual results to differ materially from such forward -looking
statements include, but are not limited to failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to maintain the modelling and assumptions upon which the
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interpretation of results are based after further testing, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining
or failures to obtain required governmental, environmental or other project approvals, changes in regulatory
requirements, political and social risks, uncertainties relating to the availability and costs of financing needed
in the future, uncertainties or challenges related to mineral title in the Company’s projects, changes in equity
markets, inflation, changes in exchange rates, fluctuations in commodity and in particular gold prices, delays
in the development of projects, capital, operating and reclamation costs varying significantly from estimates,
the continued availability of capital, accidents and labour disputes, and the other risks involved in the mineral
exploration and development industry, an inability to raise additional funding, the manner the Company
uses its cash or the proceeds of an offering of the Company’s securities, an inability to predict and counteract
the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID -
19 on the price of commodities, capital market conditions, restriction on labour and international travel and
supply chains, future climatic conditions, the discovery of new, large, low-cost mineral deposits, the general
level of global economic activity, disasters or environmental or climatic events which affect the infrastructure
on which the project is dependent, and those risks set out in the Company’s public documents filed on
SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward -
looking statements in this news release a re reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Specific reference is made to the most recent Annual
Information Form filed on SEDAR+ for a more detailed discussion of some of the factors underlying forward-
looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth
in the forward-looking statements contained in this presentation. The Company disclaims any intention or
obligation to update or revise any forward -looking statements, whether as a result of new information,
future events or otherwise, other than as required by law.