Revival GOLD Releases Infill Drill Results at Haidee
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REVIVAL GOLD RELEASES
INFILL DRILL RESULTS AT HAIDEE
Toronto, ON – November 3rd, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold”
or the “Company”), is pleased to announce results from the first eight infill drill holes completed in
the Haidee target area in connection with the Company’s 2021 exploration program at the
Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Each of the eight holes reported below encountered above cut-off grade, near-surface oxidized gold
mineralization. Highlights include:
• 1.15 g/t gold over 13.7 meters in AC21-078D
• 0.42 g/t gold over 29.9 meters in AC21-074D
• 0.77 g/t gold over 13.0 meters in AC21-073D
• 0.43 g/t gold over 23.2 meters in AC21-072D
• 0.47 g/t gold over 18.9 meters in AC21-071D
1 True width is estimated to be greater than 70% of drilled width.
The 2021 drilling program at Haidee was designed to upgrade and expand the deposit’s current
Inferred heap leachable mineral resources. In addition, the program included drill holes to obtain
engineering data for the planned late-2022 Pre-Feasibility Study. A total of 15 holes were completed
with four holes drilled for geotechnical and hydrological purposes. Assay results for the remaining
seven drill holes are expected by year end.
“Today’s initial infill drilling results h ave bolstered our confidence in the mineral resource at
Haidee”, said Hugh Agro, Revival Gold, President & CEO. “AC21-073D ended in oxide mineralization
averaging over one gram per tonne gold opening up the potential for additional resource expansion
opportunities at depth beneath the shallow drilling to-date. The Haidee deposit remains open in all
directions. Additional drill results are expected in December, and we look forward to reporting an
updated resource estimate next quarter”, Agro added.
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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)
AC21-070D2 Haidee 51 -59 34.0 36.6 2.6 0.67
45.7 52.4 6.7 0.75
71.9 83.8 11.9 0.32
173.0 179.4 6.4 0.27
AC21-071D Haidee 52 -59 55.8 73.9 18.2 0.33
81.1 100.0 18.9 0.47
113.7 122.9 9.2 0.23
142.4 154.7 12.2 0.43
AC21-072D Haidee 67 -85 27.1 36.1 9.0 0.31
40.8 63.9 23.2 0.43
Incl. 50.7 51.5 0.8 7.51
69.8 74.4 4.6 0.86
AC21-073D Haidee 96 -62 9.6 17.7 8.1 0.54
64.6 82.0 17.4 0.28
140.2 176.6 36.4 0.32
204.5 217.5 13.0 0.77
AC21-074D3 Haidee 62 -69 5.6 35.5 29.9 0.42
76.2 80.0 3.8 0.62
93.6 98.5 4.9 0.53
AC21-076D4 Haidee 65 -46 19.2 22.4 3.2 0.39
73.3 78.5 5.2 0.82
AC21-078D Haidee 68 -80 31.1 38.9 7.6 0.94
47.4 58.0 10.6 0.40
84.7 98.5 13.7 1.15
Incl. 84.7 87.8 3.0 3.06
AC21-079D Haidee 66 -55 36.3 39.2 3.0 0.45
46.0 54.3 8.3 0.51
60.0 70.3 10.2 0.23
90.6 92.1 1.5 9.18
1 True width is estimated to be greater than 70% of drilled width. Numbers may not add up due to
rounding.
2 Recovery for the interval 48.8 m to 50.0 m was 48%. Recovery for the interval 50.0 m to 51.1 m was 0%.
This interval was included in the grade and thickness calculation at 0 g/t gold.
3 Recovery for the interval 93.6 m to 95.4 m was 45%.
4 Recovery for the interval 74.7 m to 75.9 m was 34%.
Figure 1 below is a plan view of the Haidee target area showing collar locations and intercepts for
all holes drilled in 2020 and 2021.
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Figure 1: Haidee Target Area 2021 Drill Program
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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, Id aho. 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 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 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. 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 million 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 five kilometers and is open on strike and at depth.
Mineralization at Arnett is open in all directions.
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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 17th,
2020.
Revival Gold has approximately 71.2 million shares outstanding and had an estimated cash balance
of C$3 million on September 30th, 2021. 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 Lisa Ross, 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., a Qualified Person 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. F orward-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 th ey 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 fa ctors 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 limite d 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 resources, failure to convert estimated mineral resources to reserves
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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 f ailures 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 reasonable,
undue reliance should not be placed on such information, w hich 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.