Revival Gold Advances Mercur for Potential Re-Development
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Revival Gold Advances Mercur for Potential Re-Development
Toronto, ON – February 11th, 2025 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold”
or the “Company” ) is pleased to provide an update on progress with the Company’s Mercur gold
project (“Mercur”) located in Utah, U.S.A.
Highlights
• Revival Gold and the Company’s principal consultants, RESPEC Company, LLC and Kappes
Cassidy & Associates, have completed draft geological model s, grade domains, and a
preliminary updated grade and metallurgical block model in support of the Company’s
planned Preliminary Economic Assessment (“PEA”) on Mercur.
o The objective with updating models is to prepare a more robust Mineral Resource
estimate for optimal PEA mine planning purposes.
o The updated Mineral Resource will reflect additional historical drill log s and
metallurgical data as well as Revival Gold’s fall 2024 column leach metallurgical test
results.
• Whittle pit analysis, t rade-off studies and preliminary site layout planning is underway .
Open pit and waste rock storage facility designs, mine scheduling, heap leach and process
facility designs, ancillary infrastructure designs, and operating and capital cost estimates are
in progress.
o Complete PEA results are expected within the next two months.
o Revival Gold is targeting approximately 80,000 – 100,000 ounces per year of gold
production over a 9 – 10 year mine life.
• Revival Gold and the Company’s permitting consultants have initiated work on a permitting
schedule for the potential re-start of production at Mercur and plan to include a
preliminary permitting schedule and cost estimate in the PEA.
o With Mineral Resources at Mercur located on private claims and in a dry climate ,
Revival Gold expects to proceed efficiently through mine permitting, when
initiated, in a state process led by Utah’s Department of Oil, Gas and Mining.
• An initial program of exploration d ata compilation, field reconnaissance and selective
geochemical sampling at Mercur has been completed. Revival Gold has identified several
opportunities to build on Mercur’s current Mineral Resource with both adjacent and new
exploration areas identified for potential future drilling.
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o Efforts are focused on the stratigraphic section at Mercur to evaluate the potential
for mineralization in the South Sacramento, Rover and South Mercur areas.
o To date, there has been little in the way of recent exploration or deep drilling on the
west limb of the Mercur anticline. This represents an additional opportunity.
“Revival Gold’s is making excellent progress and remains on schedule for release of an updated
Mineral Resource and PEA on Mercur within the next two months. Resource modeling efforts have
incorporated a more robust geological and metallurgical model and benefited from the integration
of a substantial amount of additional historical drill log data and Revival Gold’s fall 2024 program
of column leach metallurgical test results. We are targeting potential open pit heap leach
production of 80,000 – 100,000 ounces of gold per year over a 9 – 10 year mine life. The project
benefits from its largely private land position and dry climate which is expected to provide for an
efficient mine permitting process, when initiated, and put Mercur at the front of Revival Gold’s
project development pipeline,” added Agro.
The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as
summarized in, “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 24th, 2024.
Qualified Persons
John P.W. Meyer, Vice President, Engineering and Development, P.Eng. and Dan Pace, Regis. Mem.
SME, Chief Geologist, Revival Gold Inc., are the Company’s designated Qualified Person s 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
Revival Gold is a pure gold, mine developer operating in the western 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
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.
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For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, 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 stat ed 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 addr ess 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, that the updated Mineral Resource and PEA will
be completed in the next two months, the target for Mercur of 80,000-100,000 ounces per year of gold over a 9 – 10 year
mine life, the expectation to proceed efficiently, when initiated, through mine permitting in a state process led by Utah’s
Department of Oil, Gas and Mining , 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 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, environm ental or other project approvals, changes in regulatory
requirements, political and social risks, uncertainties relating to the availability and costs of financing needed in the fut ure,
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, 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 are 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.