Revival GOLD Resumes Drilling the High-Grade Joss Target
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REVIVAL GOLD RESUMES DRILLING
THE HIGH-GRADE JOSS TARGET
Toronto, ON – June 11th, 2022 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or
the “Company”), is pleased to announce that it has resumed drilling on the high-grade Joss target
at the Company’s Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Approximately 2,000 meters of core drilling in three holes are planned this summer at Joss. Drilling
will focus on the continued definition and expansion of the one-kilometer trend of high-grade gold
mineralization with underground mining and mill potential. High-grade intercepts from the
eighteen core holes previously drilled on the Joss trend typically run from 4–11 g/t gold and are
estimated to range between 1–5 meters in true width (see Revival Gold press release dated March
1st, 2021 ). Drilling will follow up BT21 240D which intersected 4.34 g/t gold over 110.6 meters
drilled width, including 12 g/t gold over 13.7 meters drilled width, and 8.8 g/t gold over 11.8 meters
drilled width (see Revival Gold press release dated December 2nd, 2021).
Once drilling has been completed at Joss, the drill rig will move to the Haidee open pit heap leach
resource area , where approximately 2,000 meters of infill and expansion core drilling are
planned. Upon completion of drilling at Haidee, the drill rig will move to the Roman’s Trench area
for a final 1,000 meters of core drilling intended to follow -up on historical reverse circulation
drilling which intersected 1.90 g/t gold over 21 meters drilled width and 1.95 g/t gold over 18 meters
drilled width in near-surface oxides (see Revival Gold press release dated March 15th, 2022)
“2022 marks our fifth, and potentially, most exciting season of drilling at Beartrack -Arnett. We are
kicking it off with follow-up drilling on the Joss target , a target which has proven to be catalytic to
our view on the potential for high grade underground mill resources at Beartrack-Arnett. We’ll then
move to Haidee, where the emphasis is on further definition and expansion of the existing open pit
oxide gold resource, and then to Roman’s Trench , which is a new near surface oxide gold
exploration drill target for Revival Gold,” said Hugh Agro, Revival Gold, President & CEO.
Core drilling is being conducted by contractor Major Drilling America, Inc. and is expected to
continue through September . A grade-thickness longitudinal section showing the approximate
locations of the planned drill holes at Joss is presented in Figure 1.
Depending on rig availability, Revival Gold has planned an additional 3,000 meters of reverse
circulation this year to test various other potential near surface oxide gold exploration
opportunities at Beartrack-Arnett based on various soil geochemistry and geophysics anomalies.
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Figure 1: Planned 2022 Joss Drill Targets
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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 th e 2022 Indicated 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 press release da ted May 16 th, 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 86.9 million shares outstanding and a cash balance of C$9.1 million
as of March 31, 2022 . All figures in this press release are in metric units and in $US unless stated
otherwise. Additional disclosure including the Company’s financial statements, technical re ports,
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 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
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
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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 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 information 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 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, 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 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.