Revival GOLD Provides 2026 Outlook and Sets Objective to Be NEXT GOLD MINE Developed IN the US Great Basin
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REVIVAL GOLD PROVIDES 2026 OUTLOOK AND SETS OBJECTIVE TO BE
NEXT GOLD MINE DEVELOPED IN THE US GREAT BASIN
Toronto, ON – February 23rd, 2026 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold”
or the “Company”) is pleased to provide an update on our activities and plans for 2026.
Outlook Highlights
• Mercur gold project in Utah, U.S.A. (“Mercur”) advancing to potential production in 2029:
o Permitting work underway with expected two-year timeline;
o Anticipate start of project financing discussions in 2027; and
o Construction decision in 2028.
• Mercur 2026 work programs focused on:
o Completing planned column leach metallurgical testing program;
o 12,000 meters of drilling to upgrade, and potentially expand, resources;
o An additional 4,000 meters of drilling to support engineering and design;
o Completing baseline surveys and related studies to support permitting; and
o Substantially completing a Preliminary Feasibility Study (“PFS”) with targeted
release in Q1 2027.
• Ongoing exploration drilling at the Beartrac k-Arnett gold project in Idaho, U.S.A.,
(“Beartrack-Arnett”) targeting high-grade underground potential with 3,000 meters of core
drilling:
o Two core rigs are currently turning on the project with assay results pending
“2026 should be a transformative ye ar for Revival Gold as we adva nce the Mercur gold project to
production with targeted startup in 2029. Mercur benefits from being a prior successful Barrick
operation with intact infrastructure, on private land, and in the supportive state of Utah. These
characteristics help reduce risk and, together with recent progress by our technical team, give us
confidence in our ability to move Mercur rapidly back into production.”, said Hugh Agro, President
& CEO.
Mr. Agro continued, “Activity at Mercur is acce lerating with engineering, baseline surveys, and
robust metallurgy works underway. We believe, the market has yet to recognize the Mercur
opportunity in Revival Gold’s valu ation and that this will change in 2026. We look forward to a
rewarding year for the Company’s stakeholders.”
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2026 Mercur Details
Revival Gold is ramping up the Company’s project team and work programs at Mercur to complete
baseline studies and substantially advance the project in 2026.
Metallurgical Program - A robust metallurgical program has commenced under the direction of
Kappes Cassiday & Associates and includes 20 colu mn leach metallurgical tests from the 2025 drill
core. The objective of the program is to test a spatially, geologically, and metallurgically
representative array of samples to de-risk the project metallurgy. Results are expected in Q2 2026.
Drill Program - 12,000 meters of RC and core drilling are planned to convert resources to higher
confidence levels (measured and indicated) for PFS mine planning and for exploration purposes. An
additional 4,000 meters of RC, co re, and auger drilling for geotechni cal and hydrological data will
be completed to support PFS engineering.
Environmental Baseline & Permitting - The Utah De partment of Oil, Gas and Mining (“DOGM”) is
the lead mine permitting agency in Utah. DOGM requires that all environmental baseline studies
be completed prior to starting the formal perm itting process. The baseline studies include
biological studies (wildlife, vegetation, soils, aqua tic life), hydrogeology, cultural resources, air,
geochemistry and noise, amongst others. Stantec Consulting Services Inc. and Kautz Environmental
Consultants Inc. have been awarded support contracts with more scope to be tendered.
PFS - In parallel to the environm ental baseline and permitting prep aration activities, Revival Gold
will be advancing a PFS during 2026 with the goal of completing the study in Q1 2027. PFS
engineering work includes:
• Updating the mineral resource estimate;
• Revising the mine plan;
• Conducting trade-off studies;
• Engineering and cost estimation; and
• Completing an NI 43-101 Technical Report.
Revival Gold’s objective is to advance Mercur, ta rgeting a construction decision in 2028 after two
years of permitting and technical work, with gold production targeted for 2029.
2026 Beartrack-Arnett Details
The 2026 Beartrack-Arnett exploration program will fo cus on the Joss target area to demonstrate
continuity and show opportunities for expansion of gold mineralization along strike and at depth.
The program is a continuation of the drilling progra m launched in 2025 with 3,000 meters of core
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drilling planned at Beartrack-Arnett in 2026 to ex pand the underground high-g rade at Joss. Two
rigs are currently turning from contractors Major Drilling and National.
The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as
summarized in the Preliminary Economic Assessm ent (“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
and news release dated December 22, 2025.
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 Proj ect in Utah and ongoing exploration at the
Beartrack-Arnett Gold Project located in Idaho. Re vival 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.
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 Provid er (as that term is defined in the policies of the TSX Ventu re Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release contains "forward-lookin g information" within the meaning of app licable Canadian securities legislation and "forward-looking
statements" within the meaning of the U.S. Private Securities L itigation Reform Act of 1995 (collectively, "forward-looking sta tements"). 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 r esult 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 natur e 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 re lease include, but are not limited to: Statements with respect to the Company’s
exploration programs, drilling, metallurgy, permitting, baseline, project financing, construction decision and general development activities, the goals
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and expected outcomes of the planned drilling and development pr ograms at Mercur, the Company’s projected timeline for the comp letion of its
business objectives, the expectation that the Company will proceed with and complete a preliminary feasibility study and the potential start of mine
permitting .
Forward-looking statements and information involve significant kn own and unknown risks and uncertainties, should not be read as guarantees 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 materia lly from the results expressed or implied by such forward-looking statements or inf ormation, 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 explor ation 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, co nstruction or production; the geol ogy, grade and continuity of the Company's mineral deposits; the uncertainties
involving success of exploration, develo pment and mining activities; permitting timelin es; government regulation of mining oper ations;
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 obtain permits and government a pprovals; 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 exploratio n programs or studies to deliver anticipated results or resul ts that would justify
and support continued exploration, studies, development or operations. For a more deta iled discussion of such risks and other f actors that could
cause actual results to differ materially fr om those expressed or implied by such fo rward-looking statements, refer to other ri sks and uncertainties
disclosed in the Company’s public filings with Canadian securities regulators, including its most recent annual information for m and management’s
discussion and analysis, available at www.sedarplus.ca. The forwar d-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.