Revival GOLD Shareholders Approve Stock Option Plan
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REVIVAL GOLD SHAREHOLDERS APPROVE STOCK OPTION PLAN
Toronto, ON – November 23rd, 202 2 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival
Gold” or the “Company”), a growth -focused gold exploration and development company,
announces that shareholders have approved the Company’s amended 10% rolling stock option plan
(the “Plan”) at its Annual General and Special Meeting of Shareholders held on November 22 nd,
2022, in Toronto (the “Meeting”).
The Plan
The maximum number of common shares which may be issued under the Plan is 10% of the
Company’s issued and outstanding share capital at the date of grant. The Plan has a ‟rolling” limit,
as the number of shares reserved for issuance pursuant to the grant of stock options will
automatically increase as the Company issued and outstanding share capital increases. The limit
includes outstanding stock options previously granted. The Plan is subject to annual approval of
shareholders and the TSX Venture Exchange (“TSXV”).
A copy of the Plan was appended to the Company’s information circular pertaining to the Meeting
dated October 14, 2022 (the “Circular”) and is available under the Company’s profile on SEDAR.
As further discussed in the Circular, the principal amendments to the Plan ensure compliance with
the revised Policy 4.4 of the TSXV and include: (i) defining grant limits to certain participants who
are eligible to receive grants of stock options under the Plan; (ii) amending the exercise provisions
to permit Cashless Exercise (as defined in the Plan) by Plan participants; (iii) amending the exercise
provisions to permit Net Exercise (as defined in the Plan) by Plan participants ; (iv) amending the
expiry provisions to provide that should the expiry date for an option fall within a Black -Out (as
defined in the Plan), such expiry shall be automatically extended to that day which is the tenth
business day after the end of the Black -Out”, and (v) requiring disinterested shareholder approval
for any extension to the term of a stock option granted to an insider of the Company.
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. Engine ering work has been
initiated on a Preliminary Feasibility Study (“PFS”) for the potential restart of heap leach operations.
Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of
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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 NI -43-101 Technical Report by Wood plc dated July 13th, 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$3.4 million
as of September 30th, 2022. All figures in this news release are in metric units and in $US unless
stated otherwise. 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 Melisa Armand, Manager, 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 s tatements" 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 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 manag ement’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
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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 c ommodity 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 t he 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.