Revival GOLD Intersects 1.12 G/T GOLD over 18 Meters and 0.81 G/T GOLD over 30.1 Meters IN Near-Surface Oxides at Haidee
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REVIVAL GOLD INTERSECTS 1.12 g/t GOLD OVER 18 METERS
AND 0.81 g/t GOLD OVER 30.1 METERS IN
NEAR-SURFACE OXIDES AT HAIDEE
Toronto, ON – January 9th, 2023 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or
the “Company”), is pleased to announce results from the first twelve of eighteen core holes drilled
in the Haidee deposit area during the Company’s 2022 exploration program at the Beartrack-Arnett
Gold Project (“Beartrack-Arnett”) located in Idaho, USA . Each of the twelve holes released today
intersected above cut-off grade, near-surface oxidized gold mineralization.
Highlights
• 1.12 g/t gold over 18.0 meters1 and 0.36 g/t gold over 32.8 meters1 in AC22-097D
• 0.81 g/t gold over 30.1 meters1 and 0.53 g/t gold over 16.9 meters1 in AC22-100D
• 0.76 g/t gold over 19.8 meters1 in AC22-092D
• 0.53 g/t gold over 35.8 meters1, 0.53 g/t gold over 29.3 meters 1 and 0.40 g/t gold over
14.7 meters1 in AC22-095D
1 True width is estimated to be 70% - 90% of drilled width.
The 2022 drilling program at Haidee was designed to upgrade and expand the deposit’s current
Inferred heap leachable Mineral Resource. A total of 1 8 holes were completed for approximately
2,900 meters . Results to-date from the 2022 drilling program are consistent with those from
previous drilling. They will help support this year’s Preliminary Feasibility Study (“PFS”) on the first
phase re-start of heap leach operations at Beartrack-Arnett and they further validate the potential
for future up-dip and down -dip additions to the current Mineral Resourc e. Results fo r the
remaining six core holes from the 2022 program at Haidee are expected by the end of January.
“Today’s results build on Revival Gold’s prior exploration success in the Haidee deposit area with
each hole having intersected above cut -off grade gold mineralization in oxide material , all within
150 meters of surface. The results have increased our confidence in the integrity of the Haidee
deposit ahead of this year’s PFS on the first phase re-start of heap leach operations at Beartrack -
Arnett and they point to the potential for further expansion , both up -dip and down -dip of the
current Mineral Resource”, said Hugh Agro, President and CEO.
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Details:
Detailed results for drill holes released today are presented in the table below:
Hole Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width1
(m)
Fire Assay
Gold Grade
(g/t)
AC22-085D2 Haidee 65 -61 7.7 16.8 9.0 0.56
78.6 84.8 6.1 1.39
120.1 130.0 9.9 0.94
150.3 153.8 3.6 0.86
AC22-087D Haidee 66 -61 57.2 60.4 3.2 0.89
78.2 86.5 8.3 0.32
135.9 140.3 4.4 1.44
AC22-088D Haidee 67 -46 9.7 12.5 2.8 0.46
43.0 45.5 2.5 0.85
56.2 60.8 4.6 0.85
73.3 76.8 3.5 0.63
100.4 101.3 0.9 7.45
AC22-090 Haidee 65 -59 12.2 18.9 6.7 0.50
31.3 35.5 4.2 0.55
AC22-091D3 Haidee 69 -81 55.8 62.9 7.1 0.95
131.3 136.9 5.7 0.29
AC22-092D Haidee 64 -60 28.9 33.5 4.6 0.31
61.6 81.4 19.8 0.76
Incl. 61.6 62.8 1.2 8.88
119.7 122.7 3.0 0.45
152.4 154.7 2.3 0.57
173.8 176.1 2.3 0.52
AC22-095D4 Haidee 72 -65 4.8 40.5 35.8 0.53
57.3 86.6 29.3 0.53
102.8 117.4 14.7 0.40
159.9 163.0 3.2 2.62
AC22-097D Haidee 64 -60 2.8 20.7 18.0 1.12
Incl. 2.8 4.8 2.1 3.19
Incl. 13.7 16.5 2.7 2.87
40.0 72.8 32.8 0.36
AC22-098D Haidee 65 -62 3.7 28.3 24.7 0.30
55.2 67.5 12.3 0.26
AC22-100D5 Haidee 66 -60 1.6 31.7 30.1 0.81
43.9 50.2 6.2 1.01
61.0 67.7 6.7 0.46
89.5 106.4 16.9 0.53
158.6 165.2 6.6 2.87
Incl. 158.6 161.4 2.7 6.38
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Hole Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width1
(m)
Fire Assay
Gold Grade
(g/t)
AC22-101D Haidee 65 -60 34.4 41.6 7.2 0.35
111.9 113.4 1.5 3.95
AC22-102D Haidee 64 -60 19.2 29.6 10.4 0.32
39.6 52.9 13.3 0.31
129.7 135.0 5.3 0.80
1 True width is estimated to be 70% - 90% of drilled width. Numbers may not add up due to rounding.
2 AC22-085D: Recovery for the interval 14.4 m – 15.4 m was 42%
3 AC22-091D: Recovery for the interval 132.6 m – 134.1 m was 6%. This interval was included in the grade
and thickness calculation at 0 g/t gold.
4 AC22-095D: Recovery for the interval 26.8 m – 27.5 m was 48%.
5 AC22-100D: Recovery for the interval 48.7 m – 49.7 m was 25%.
Figure 1 is a plan view of the Haidee deposit area with results to-date from the 2022 drill program.
Figure 1: Haidee Deposit Area Drill Program Results (January 2023)
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QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of certified reference materials,
duplicate samples, and blanks into the sample stream. Check samples are submitted to an umpire
laboratory at the end of the drilling program. Sample results are analyzed immediately upon receipt
and all discrepancies are investigated. Samples are submitted to the ALS Geochemistry sample
preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry
laboratory in Reno, Nevada or V ancouver, 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 samples consisting of half drill core by fire assay and AAS on a 30 -
gram nominal sample weight (Au-AA23) for Beartrack, and Fire Assay and AAS on a 50-gram nominal
sample weight (Au -AA24) for Arnett. For shallow holes , targeting leachable mineralization, 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 selected drill holes using the
ME-MS 61M method.
Qualified Person
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., 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 Inc. 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. Engineering work has been
initiated on a Preliminary Feasibility Study (“PFS”) for the potential restart of heap leach operations.
Meanwhile, exploration continues, focused on expanding the 2022 In dicated Mineral Resource of
65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and Inferred Mineral
Resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold (see Revival
Gold NI -43-101 Technical Repor t by Wood plc dated July 13th, 2022, for further details). 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.
Revival Gold has approximately 91.9 million shares outstanding and a n estimated cash balance of
C$3 million as of December 31st, 2022. All figures in this news release are in metric units and in $US
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unless stated otherwise. 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.
For further information, please contact:
Hugh Agro, President & CEO or Melisa Armand, 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 relea se.
This news 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”. Forw ard-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 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 expressed or implied by such
forward-looking statements. Forward looking statements in this news release includes, but is not limited to, the size of
the Financing, the completion, terms and expected closing date of the Financing, the Company’s objectives, goals or
future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration
and mine development plans, timing of the commencement of operations and estimates of market conditions. 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
complete a feasibility study which recommends a production decisio n, the preliminary nature of metallurgical test
results, 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, 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, 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 obligation to update or revise
any forward-looking statements, whether as a result of n ew information, future events or otherwise, other than as
required by law.