Revival GOLD Advances Processing Alternatives FOR High-Grade Mill Material at Beartrack-Arnett
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REVIVAL GOLD ADVANCES PROCESSING ALTERNATIVES
FOR HIGH-GRADE MILL MATERIAL AT BEARTRACK-ARNETT
Toronto, ON – September 6th, 2023 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival
Gold” or the “Company”), is pleased to announce favourable results from a third stage of
metallurgical testing on mill (or sulphide) material from the Beartrack -Arnett Gold Project
(“Beartrack -Arnett” or, the “Project”) located in Lemhi County, Idaho. The objective of this
testing program was to evaluate the flotation performance of the high- grade component of
sulphide material at Beartrack -Arnett and assess its potential to yield a salable concentrate .
Highlights
• The composite sample was assembled from 21 individual samples of core to mimic the
tenor of high-grade mill material at Beartrack-Arnett.
• Results demonstrate gold recoveries of 93% to concentrate from a composite sample
grading 4.6 g/t gold.
• A concentrate grade of 50 g/t gold was achieved with a relatively coarse particle grind
size (P80) of 150 μm and a resulting mass pull of just 8.9%.
• The corresponding sulphide sulphur grade of the concentrate was 23% with a sulfide
sulfur recovery of 98%.
“Revival Gold remains focused on continuing to expand and prepare the open pit heap leach
restart phase at Beartrack -Arnett”, said Hugh Agro, President & CEO. “Meanwhile, work
continues to advance and de -risk a potential mill phase for the Project. Today’s announced test
results support a potential mill development concept that would involve the production and sale
of concentrate rather than the construction of a complete onsite gold production facility for the
Project. This approach could greatly simplify and reduce the potential capital cost of developing
a second phase mill operation at Beartrack-Arnett”, Agro added.
This year’s metallurgical testing program on Beartrack -Arnett mill material was undertaken by
Kappes Cassiday Associates Inc. (“KCA”) and followed up on prior metallurgical test programs
completed on Beartrack-Arnett mill material in 2018 and 2019 (see Revival Gold news releases
dated October 15th, 2018, and December 5th, 2019, and current mill material base case processing
assumptions deta iled in Revival Gold’s National Instrument 43 -101 Technical Report on the
Beartrack-Arnett Heap Leach Project dated August 2 nd, 2023). The program involved the
following steps:
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• Analysis of lithology, grade, depth, and oxidation level to guide composite sample
selection.
• Preparation of a composite sample from 21 samples of coarse reject material from Joss
area core drilled during 2022.
• Batch scale variability testing to establish the preferred grind, rougher kinetic and
cleaner flotation testing conditions, and reagent dosages.
• Locked cycle flotation testing with 7 cycles of cleaner tailings recycling.
Results are considered preliminary. Further metallurgical testing on high -grade mill material
across various areas of the known deposit has been recommended by KCA to help determine
potential key operating criteria and economics for a concentrate shipping alternative for
Beartrack-Arnett mill material.
Qualified Persons
John P.W. Meyer, P.Eng., Vice President Engineering and Development, is the Company’s
designated Qualified Person for this news release within the meaning of National Instrument
43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific
and technical content.
About Revival Gold Inc.
Revival Gold is a growth -focused gold exploration and development company. The Company is
advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past -producing gold mine in Idaho. The Project benefits from
extensive existing infrastructure and is the subject of a recent Preliminary Feasibility Study for
the potential restart of open pit heap leach gold production operations.
Since reassembling the Beartrack-Arnett land position in 2017, Revival Gold has made one of the
largest new discoveries of gold in the United States in the past decade. The mineralized trend at
Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at
Arnett is open in all directions.
Additional disc losure 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 Melisa Armand, Manager,
Investor Relations, 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, t he Company provides no assurance
that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward -looking
statements could cause actual events, results, performance, prospects, and opportunities to diff er materially from those
expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not
limited to, the Company’s objectives, goals and future plans, and statements of intent, the implications of exploration results,
mineral resource/reserve estimates and the economic analysis thereof, exploration and mine development plans, timing of the
commencement of operations, estimates of market conditions, and statements regarding the results of the pre-feasibility study,
including the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback
period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting
of the project, anticipated mining and processing methods, proposed pre- feasibility study production schedule and metal
production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production
rates, infrastructure, social and environmental impact studies, availability of labour, tax rates and commodity prices that w ould
support development of the Project. 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, enviro nmental or other project
approvals, changes in regulatory requirements, political and social risks, uncertainties relating to the availability and cos ts 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 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. The Company disclaims any intention or oblig ation 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.