Revival GOLD Intercepts 1.8 G/T GOLD over 26 Meters and Provides Update ON Mercur Heap Leach Project IN Utah
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REVIVAL GOLD INTERCEPTS 1.8 G/T GOLD OVER 26 METERS AND
PROVIDES UPDATE ON MERCUR HEAP LEACH PROJECT IN UTAH
Toronto, ON – January 7th, 2026 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or
the “Company”) is pleased to provide the latest drilling results and a n update on project
development at the Company’s Mercur Gold Project (“Mercur”) in Utah.
Drilling Highlights
• Assay results have been received from an additional nineteen drill holes with the following
highlight intersections in near-surface oxide gold mineralization at Mercur:
o 1.8 g/T gold over 25.9 meters width at 6.1 meters downhole in RM25-144;
o 1.3 g/T gold over 21.9 meters width at 16.8 meters downhole in RMC25-019; and,
o 0.7 g/T gold over 29.0 meters width at 21.3 meters downhole in RM25-131.
• Results to date continue to confirm the expected tenor and leachability of mineralization
and demonstrate exploration upside opportunities at Main Mercur.
Development Update
• Revival Gold’s lead environmental and permitting consultant, S tantec Consulting Inc.
(“Stantec”), has completed detailed work plans for baseline biological studies. Field work
will commence in Q1 and is expected to be completed over the next twelve months.
• Discussions have been initiated with Utah regulators on the mitigation of historical mining-
related archaeological sites. Phased mitigation planning by S tantec is underway with the
next stage of field work expected to commence in Q2.
• PQ core sample selection and test preparation is underway by Revival Gold’s lead
metallurgical and process design consultants, Kappes, Cassiday & Associates, for a program
of approximately twenty column leach tests expected to be completed by the end of Q2.
• A contractor has been selected to evaluate and redevelop the historical Barrick water
supply wells at Mercur. Work will commence this month.
Revival Gold is also pleased to announce the appointment of Timothy S. Barnett as the Company’s
General Manager of Mercur with overall responsibility for site development and operating
activities. Mr. Barnett is a seasoned mining professional with more than thirty years experience in
engineering studies, construction management, and operations in international and domestic
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precious metals mining. Most recently , Mr. Barnett was a Project Manager with Rio Tinto
Kennecott. Previously, Mr. Barnett managed construction contracts at Continental Gold’s Buritica
gold project in Colombia, served as Commissioning Manager at Oceana Gold’s Haile gold mine in
South Carolina and Project Manager at Alamos Gold’s Mulatos gold mine in Mexico. Mr. Barnett
completed a B.Sc. in Metallurgical Engineering at Corllins University and Montana Tech and resides
with his family in Stansbury Park, Utah.
“Revival Gold is thrilled to welcome Tim Barnett as General Manager at Mercur and pleased to kick
off 2026 with further encouraging assay results and development news at Mercur”, said Hugh Agro,
President & CEO.
Mr. Agro continued, “Our primary operational objective is to restart gold production at Mercur and,
with today’s news, we are adding to our leadership team and ramping up activity in support of that
objective. With the gold price comfortably above US$4,000 per ounce, bringing a new 100,000
ounce per annum domestic gold mine into production will create significant value for our owners.”
Mercur Drilling Details
The 2025 drilling program at Mercur finished in December with 115 RC and core holes completed.
Data collected will support the Company’s planned 2026 pre-feasibility study, a major milestone on
the path to restarting gold production at Mercur.
Drilling results collected to -date at Mercur are generally consistent with the Inferred Mineral
Resource and metallurgical models developed for the Mercur Preliminary Economic Assessment
(“PEA”) (see “Preliminary Economic Assessment NI 43 -101 Technical Report on the Mercur Gold
Project, Tooele & Utah Counties, Utah, USA” prepared by Kappes, Cassidy & Associates, and RESPEC
Company LLC dated May 2nd, 2025).
RM25-136 and RM25-137 in the Marion Hill area at Main Mercur, targeted the western edge of the
PEA design pit. The holes are encouraging with long runs of mineralization that continue to the
bottom of the holes and outside the current PEA pit shells.
Figure 1 describes drill hole locations for the results released today. F ull drill results are presented
in Table 1 below.
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Figure 1: Main Mercur Drill Plan Map – January 7th, 2026 Results
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Table 1: Detailed Drill Results
Hole Number Area Azimuth
(deg.)
Dip
(deg.)
From
(m) To (m)
Drilled
Width
(m)1
Fire
Assay
Gold
Grade
(g/t)2
AuCN/Au
FA Ratio
(%)3
RM25-111 Rover 120 70 56.4 86.9 30.5 0.59 87
120.4 126.5 6.1 0.77 71
RM25-121 Mercur Hill 325 60 102.1 123.4 21.3 0.38 54
RM25-124 Rover 300 50 24.4 42.7 18.3 0.77 73
RM25-125 Mercur Hill 330 75 NSI4
RM25-128 Rover 170 60 0.0 7.6 7.6 0.27 71
57.9 82.3 24.4 0.31 49
RM25-130 Rover 200 60 68.6 71.6 3.0 0.27 80
RM25-131 Rover 310 70 21.3 50.3 29.0 0.72 82
RM25-135 Mercur Hill 285 65 269.7 281.9 12.2 0.55 69
RM25-136 Marion Hill 305 60 25.9 42.7 16.8 0.33 65
48.8 85.3 36.6 0.36 79
RM25-137 Marion Hill 305 60 33.5 48.8 15.2 0.47 89
53.3 67.1 13.7 0.33 84
RM25-139 Marion Hill 130 60 22.9 30.5 7.6 0.32 80
39.6 61.0 21.3 0.41 80
RM25-140 Marion Hill 135 60 47.2 65.5 18.3 0.28 81
RM25-141 Rover 200 60 24.4 35.1 10.7 0.28 68
51.8 61.0 9.1 0.23 30
RM25-142 Marion Hill 135 60 18.3 38.1 19.8 0.38 84
RM25-144 Rover 190 70 6.1 32.0 25.9 1.75 84
RM25-145 Marion Hill 140 65 22.9 32.0 9.1 0.29 78
RM25-147 Rover 130 55 30.5 39.6 9.1 0.64 81
RMC25-0195 Marion Hill 0 90 16.8 38.7 21.9 1.30 87
RMC25-0215 Marion Hill 250 60 1.2 13.9 12.7 0.40 57
1 True width for all holes is estimated to be 70-100% of drilled width. Numbers may not add up due to rounding.
2 Mineralized intercepts calculated based on a 0.17 g/t cutoff grade allowing up to 2 intervals of internal dilution.
3 AuCN/AuFA is the ratio of cyanide soluble gold assay to total gold in fire assay and provides an indication of
potential heap leach recoverability for the material sampled.
4 NSI stands for no significant intercept above the 0.17 g/t cutoff grade.
5 No recovery and non-assayed intervals are assigned a 0 value for intercept calculation.
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The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as
summarized in the PEA.
Subject to regulatory approval, Revival Gold has granted Mr. Barnett 300,000 incentive stock
options in connection with his appointment. Pursuant to the Company’s Stock Option Plan, the
options are exercisable at a price of $0.75 each for a period of five years and are subject to vesting
provisions.
QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of certified reference materials,
duplicate samples, and blanks into the sample stream. Sample results are analyzed immediately
upon receipt, and all discrepancies are investigated. Samples are submitted to the ALS
Geochemistry sample preparation facility in Elko, Nevada. Gold analyses are performed at the ALS
Geochemistry laboratory in Reno, Nevada or Vancouver, British Columbia, and multi- element
geochemical analyses are completed at the ALS Minerals laboratory in Vancouver, British Columbia.
ALS Minerals is an ISO/IEC 17025:2017 accredited lab.
Gold assays are determined on reverse circulation drill cuttings and quarter-sawn PQ core by fire
assay and Atomic Absorption Spectroscopy (AAS) on a 30-gram nominal sample weight (Au-AA23).
One quarter of the PQ core samples were submitted for assay , one quarter is kept for sample
archive, and one half is preserved for future metallurgical column tests. For samples containing
greater than 100 ppb Au as determined by Fire Assay, gold content is also determined by cyanide
leach with an AAS finish on a nominal 30 -gram sample weight (Au -AA13). Multi -element
geochemical analyses are completed on composites samples from selected drill holes using the ME-
MS 41 method.
Qualified Persons
Technical information included in this news release was reviewed and approved by Mr. John Meyer,
P.Eng., a QP and Vice President, Engineering and Development for the Company, and Mr. Dan Pace,
RM SME, a QP and Chief Geologist for the Company.
About Revival Gold Inc.
Revival Gold is one of the largest, pure gold mine developers in the United States. The Company is
advancing development of 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
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the ticker symbol “RVLGF”. The Company is headquartered in Toronto, Canada, with its exploration
and development office located in Salmon, Idaho.
For further information, please contact:
Scott Trebilcock, VP, Corporate Development & 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 Ven ture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release contains "forward -looking information" within the meaning of applicable Canadian securities legislation and "forward- looking
statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forw ard-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 Co mpany 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 management’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 express ed or implied by such forward-
looking statements. Forward-looking statements in this news release include, but are not limited to: Statements with respect to the Company’s
exploration, metallurgy, permitting and development activities, the goals and expected outcomes of the planned drilling and development program
at Mercur, and the expectation that the Company will proceed with the potential completion of a pre -feasibility study and formal launch of mine
permitting on the Project.
Forward-looking statements and information involve significant known and unknown risks and uncertainties, should not be read as guara ntees of
future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors
could cause actual results to differ materially from the results expressed or implied by such forward -looking statements or information, including,
but not limited to: the Company's ability to finance the development of its mineral properties; uncertainty as to whether there will ever be production
at the Company's mineral exploration and development properties; risks related to the Company's ability to commence production at the projects
and generate material revenues or obtain adequate financing for its planned exploration and development activities; uncertainties relating to the
assumptions underlying resource and reserve estimates; mining and development risks, including risks related to infrastructure, accidents, equipment
breakdowns, labour disputes, bad weather, non-compliance with environmental and permit requirements or other unanticipated difficulties with or
interruptions in development, construction or production; the geology, grade and continuity of the Company's mineral deposits; the uncertainties
involving success of exploration, development and mining activities; permitting timelines; government regulation of mining op erations;
environmental risks; unanticipated reclamation expenses; prices for energy inputs, labour, materials, supplies and services; uncertainties involved in
the interpretation of drilling results and geological tests and the estimation of reserves and resources; unexpected cost increases in estimated capital
and operating costs; the need to obta in permits and government approvals; material adverse changes, unexpected changes in laws, rules or
regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour
unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or result s that would justify
and support continued exploration, studies, development or operations. For a more detailed discussion of such risks and other factors that could
cause actual results to differ materially from those expressed or implied by such forward -looking statements, refer to other risks and uncertainties
disclosed in the Company’s public filings with Canadian securities regul ators, including its most recent annual information form and management’s
discussion and analysis, available at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date of
this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in respect of the matters discussed above.