Viva Gold Announces Stock Option Grant
NR 23-11
Viva Gold Announces Stock Option Grant
VANCOUVER, BC – June 22, 2023 – Viva Gold Corp. (TSX-Venture: VAU; OTCQB: VAUCF) (the “Company”
or “Viva”) announces that it has granted, pursuant to its stock option plan, a total of 1, 650,000 stock
options to directors, officers and consultants. The incentive stock options have an e xercise price of
C$0.165 per share and expire three years after the grant date. The vesting schedule is as follows: 50% of
the options vest immediately and the remaining options vest 25% of the total grant, at the one-year and
two-year anniversary dates until fully vested. The Bo ard of Directors of Viva Gold are typically
compensated via stock options.
About Viva Gold Corp
About Viva Gold Viva Gold Corp holds 100% of Tonopah gold project ("Tonopah"), located on the world
class Walker Lane mineral trend in western Nevada, approxi mately 30 minutes’ drive southeast of the
Kinross Round Mountain mine and 20 minutes’ drive from the Town of Tonopah. Prior to its 2022 drilling
program, the Company declared a measured and indicated contained mineral gold resource of 394,000
ounces at 0.78 grams/tonne at Tonopah, with 206,000 ounces of Inferred resource at 0.87 grams/tonne.
Work is underway to add almost 4,000 meters of additional drilling in 2022 with exceptionally positive
results to the resource base. Gold resources at Tonopah are gene rally well oxidized and is amenable to
both heap leach and leach mill processing for gold recovery. The project enjoys exceptional infrastructure
with paved road access and nearby commercially available water and grid electric power. Viva has worked
with its regulators to significantly advanced its environmental, social and technical baseline study work at
Tonopah to support future environmental and project development permitting requirements. These
efforts demonstrate our focus and commitment to de -risk and add value to the Tonopah project as it is
advanced to feasibility study and permitting.
Viva Gold trades on the TSX Venture exchange “VAU”, on the OTCQB "VAUCF" and on the Frankfurt
exchange "7PB". Viva has 106.7 million shares outstanding and a strong management team and board
with both gold exploration and production experience. Viva is building market awareness as the Company
advances the Tonopah Gold Project. For additional information on Viva Gold and the Tonopah Gold
Project, please visit our website: www.vivagoldcorp.com.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Graham Farrell, Harbor Access
(416) 842-9003
Forward-Looking Information:
This news release contains certain information that may constitute forward -looking information or
forward-looking statements under applicable Canadian securities legislation (collective ly, “forward -
looking information”), including but not limited to drilling operations and estimates of gold mineral
resource at the Tonopah Gold Project. This forward -looking information entails various risks and
uncertainties that are based on current expectations, and actual results may differ materially from those
contained in such information. These uncertainties and risks include, but are not limited to, the strength
of the global economy, inflationary pressures, pandemics, and issues and delays relate d to permitting
activities; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted
drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the
degree to which fact ors which would make a mineral deposit commercially viable are present; the risks
and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital
requirements. Risks and uncertainties about the Company’s business are more fully discussed in the
Company’s disclosure materials filed with the securities regulatory authorities in Canada available at
www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any
forward-looking information or to update the reasons why actual results could differ from such
information unless required by law.
Cautionary Note to Investors --- Investors are cautioned not to assume that any "measured mineral
resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this
news release are or will be economically or legally mineable. United States investors are cautioned that
while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources", investors should not assume that any part or all of the mineral deposits in these
categories will ever be conve rted into a higher category of mineral resources or into mineral
reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under
Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-
feasibility studies, except in limited circumstances. Further, "inferred mineral resources" have a great
amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be
assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category.
The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance
can be given that the anticipated tonnages and grades will be a chieved or that the indicated level of
recovery will be realized.
Neither 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 release.