Revival GOLD Provides Exploration & Business Update
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REVIVAL GOLD PROVIDES
EXPLORATION & BUSINESS UPDATE
Toronto, ON – July 7th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the
“Company”), a growth‐focused gold exploration and development company, reports on recent
developments including exploration activities on the Company’s Beartrack -Arnett Gold Project
(“Beartrack-Arnett”) located in Lemhi County, Idaho.
Highlights:
• The Beartrack-Arnett Preliminary Economic Assessment (“PEA”) is on track for completion
by year-end 2020. The open-pit heap leachable component of Revival Gold’s February 2020
Mineral Resource remains the basis for the PEA. Lead consultant, Wood plc, has completed
mine planning and production scheduling . Cost estimati on, an assessment of mine
permitting strategies, development of the financial model and optimization are underway;
• Modifications to the Arnett Exploration Drilling Plan of Operations have been approved by
the U.S. Forest Service which will allow relocation of some previously permitted drill sites to
concentrate on resource expansion targets immediately along strike and down dip of the
Haidee oxide gold resource;
• Revival Gold has r ecommenced field work at Beartrack -Arnett with an initial emphasis on
further geological mapping, sampling and prospecting to ground-truth anomalies identified
from airborne geophysical and soil sampling programs;
• Preparations have been made for a gradient array induced polarization geophysical survey
along strike from the Haidee oxide gold resource to be completed on the Beartrack-Arnett
property; and,
• In the quarter ended June 2020, t he Company r eceived approximately $500,000 from the
early exercise of warrants priced at $0.90.
“Revival Gold and its consultant, Wood plc, are on track with the PEA on the potential re-start of a
phase one open-pit heap leach operation at Beartrack-Arnett. At the same time, over the past few
months, the company has successfully modified permitting for future drilling and recently mobilized
to recommence geological field work for the summer ,” said Hugh Agro, President & CEO.
“Beartrack-Arnett is the largest past-producing gold mine in Idaho and benefits from the presence
of significant existing site infrastructure and an abundance of exploration targets across the Revival
Gold’s 5,400-hectare land position.”
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Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Go ld 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
has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing
Beartrack Gold Project located in Lemhi County, Idaho. 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 and hosts the second largest
deposit of gold in the state. A Preliminary Economic Ass essment is underway on the potential re -
start of a phase one open -pit heap leach operation and work continues to expand the current
Indicated Mineral Resource of 36.4 million tonnes at 1.16 g/t gold containing 1.35 million ounces of
gold plus Inferred Mineral Resource of 47.2 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 at depth.
Mineralization at Arnett is open in all directions.
Revival Gold currently has approximately 56.1 MM shares outstanding and had a cash balance of
approximately $ 1 MM as of June 30 th, 20 20. Additional disclosure of the Company’s financial
statements, technical reports, material change 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 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 E xchange) accepts responsibility for the adequacy or accuracy of
this news release.
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, expects a stated conditio n or result to occur. Forward -looking statements may be
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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 e xpectations. 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 materially 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 mineral resources, failure to convert estimat ed mineral resources to reserves, 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,
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 o f 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 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 information,
whether as a result of new information, future events or otherwise, other than as required by law.