Revival GOLD Files Ni 43-101 PEA Technical Report
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REVIVAL GOLD FILES NI 43-101 PEA TECHNICAL REPORT
Toronto, ON – December 18th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold”
or the “Company”), a growth‐focused gold exploration and development company, announces the
SEDAR filing of an independent technical report (the “Report”) prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) supporting
the results of a Preliminary Economic Assessment (“PEA”) on the Company’s Beartrack -Arnett
(“Beartrack-Arnett”) phase one heap leach gold project located in Idaho, USA. The results of the
PEA were reported in the Company’s news r elease dated November 17 th, 2020 and there are no
material differences in the Report from those results. The effective date of the report is November
17th, 2020.
Beartrack-Arnett Phase One Heap Leach Gold Project - PEA Highlights*
• Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an
initial seven-year mine life;
• Pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61
million;
• Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
• After-tax NPV at a 5% discount rate (“NPV 5%”) of $88 million and after-tax IRR of 25% at
$1,550 per ounce gold increasing to a $211 million NPV5% and 49% IRR at $1,950 per ounce
gold;
• After-tax payback period of 3.0 years;
• Lower technical and execution risk of a brownfields project with existing infrastructure
and recent history as the largest past-producing gold mine in Idaho; and,
• Excellent additional exploration potential as demonstrated by this season’s drill results
and with over 10km of favorable geological structure to explore.
* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.
The PEA is preliminary in nature; it in cludes Inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to them that would enable
them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.
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The full Report prepared by Wood plc of Oakville, Canada and Boise, Idaho and dated December
18th, 2020 entitled, “Preliminary Economic Assessment of the Heap Leach Operation on the
Beartrack Arnett Gold Project Lemhi County, Idaho, USA – NI 43-101 Technical Report”, to be found
on the Company’s website at www.revival-gold.com and on SEDAR under the Company’s issuer
profile at www.sedar.com.
Qualified Persons
Steven T. Priesmeyer, C.P.G., a QP and Vice President Exploration for the Company, and Mr. Rodney
A. Cooper, P.Eng., a QP and a consultant to the Company, 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 has reviewed and approved its scientific and technical content.
About Revival Gold Inc.
Revival Gold Inc. is a growth -focused gold exploration and development company. The Company
has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing
Beartrack Gold Project located in Idaho , USA. Revival Gold also owns rights to a 100% interest in
the neighboring Arnett Gold Project.
Beartrack-Arnett is the largest past -producing gold mine in Idaho. A Preliminary Economic
Assessment has been completed for a first phase restart of heap leach operations to produce 72,000
ounces of gold per year over an initial seven -year mine life at an AISC of $1,057 per ounce of gold.
Meanwhile, exploration continues focused on expanding the current Indicated Mineral Resource of
36.6 million tonnes at 1.15 g/t gold containing 1.36 milli on ounces of gold and Inferred Mineral
Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The
mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth.
Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the
Mineral Resources, and data verification, please see the Company’s NI 43 -101 compliant technical
report titled , “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack
Arnett Gold Project Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 18th,
2020.
Revival Gold has approximately 71.2 million shares outstanding and had a ca sh balance of
approximately C$12.7 million on September 30 th, 2020. 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.sedar.com.
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For further information, please contact:
Hugh Agro, President & CEO or Adam Rochacewich, 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.
Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G.,
Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc.,
Qualified Persons within the meaning of National Instrument 43 -101 – Standards of Disclosure for Mineral
Projects.
This News Release includes certain “forward-looking statements” which 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, ex pects 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 assumpti ons 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 w ill meet management’s
expectations. Risks, uncertainties and other factors involved with forward -looking information could cause
actual events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward-looking information. Forward-looking information in this news release includes,
but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements.
Factors that could cause actual results to differ materia lly from such forward -looking information include,
but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID -19
coronavirus on factors relevant to the Company’s business, failure to identify additional mineral res ources,
failure to convert estimated mineral resources to reserves with more advanced studies, the inability to
eventually complete a feasibility study which could support a production decision, the preliminary nature of
metallurgical test results may not be representative of the deposit as a whole, delays in obtaining or failures
to obtain required governmental, environmental or other project approvals, political risks, uncertainties
relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital,
operating and reclamation costs varying significantly from estimates and the other risks involved in the
mineral exploration and development industry, 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 information in this news release are r easonable, 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 intentio n or
obligation to update or revise any forward -looking information, whether as a result of new information,
future events or otherwise, other than as required by law.