Revival GOLD Resumes Drilling at Beartrack-Arnett
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REVIVAL GOLD RESUMES DRILLING
AT BEARTRACK-ARNETT
Toronto, ON – August 10th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold”
or the “Company”), a growth‐focused gold exploration and development company, has resumed
drilling at the Company’s Beartrack -Arnett Gold Project (“Beartrack -Arnett”) located in Lemhi
County, Idaho.
Drilling resumed with two rigs this past weekend with Boart Longyear Limited contracted to
complete an initial 5,000-meter program, beginning in the Haidee area at Arnett. Drilling at Haidee
will focus on resource expansion and infill core drilling.
The current leachable Mineral Resource at Haidee consists of an Indicated resource of 2,300,000
tonnes averaging 0.66 g/t gold containing 49,000 ounces of gold and an Inferred resource of
8,300,000 tonnes averaging 0.55 g/t Au containing 147,000 ounces of gold. See the Company’s
technical report titled “Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho,
USA” by Roscoe Postle Associates Inc. dated February 21, 2020 . The resource at Haidee is open in
all directions.
At Beartrack, Revival Gold’s drilling program this year will test an airborne magnetic anomaly in an
area known as Rabbit. Rabbit is located along the Panther Creek Shear Zone and begins
approximately two kilometers south of the current Beartrack Mineral Resource at Joss. The initial
target is at the projected intersection of the Panther Creek Shear Zone with a crossing structure .
Further program details for Beartrack-Arnett will be released later this month.
“With funding and drill permits in place, Revival Gold’s exploration team has moved quickly to
resume drilling. The deposits at Beartrack-Arnett are open and we are excited to be in a position to
drill several big step-out holes in the exploration program this year ,” said Hugh Agro, President &
CEO.
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., is the Company’s
designated Qualified Person for this news rel ease within the meaning of National Instrument 43 -
101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and
technical content.
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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 Gol d 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
known deposit of gold in the state. A Preliminary Economic Assessment is underway on the
potential re-start of a phase one open-pit heap leach operation and exploration continues focused
on expanding the current Indicated Mineral Resource of 36.4 million tonnes at 1.16 g/t gold
containing 1.35 million ounces of gold and 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 on strike and at depth. Mineralization at Arnett is open in all directions. For further
details, including key assumptions, parameters and methods used to estimate the Mineral
Resources, please see the Company’s technical report titled “Technical Report on the Beartrack -
Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21, 2020.
Following the completion of the Offering, Revival Gold has approximately 70.2 million shares
outstanding and a current cash balance of approximately $14.8 million. Additional discl osure
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 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 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. Forward -looking statements include estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the e ffect that the Company, or
management, expects a stated condition 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 expectations. 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 estimated 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 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 inform ation, 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.