Viva Gold Announces Upsize of Private Placement to CDN$6.5 Million Increase driven by strong investor demand; additional proceeds to fund an expanded drill program at
NR 26-17
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES.
Viva Gold Announces Upsize of Private Placement to CDN$6.5 Million
Increase driven by strong investor demand; additional proceeds to fund an expanded drill program at
the new Midway Hills gold discovery
Langley, British Columbia -- August 27, 2026 -- Viva Gold Corp. ("Viva Gold" or the “Company”) (TSX
Venture Exchange: VAU) is pleased to announce that, in response to strong investor demand, it has
increased the size of its previously announced non -brokered private placement (the "Offering") from up
to CDN$3,000,000 to up to CDN$6,500,000. As amended, the Offering consists of up to 40,625,000 units
(the "Units") at a price of CDN$0.16 per Unit for gross proceeds of up to CDN$6, 500,000. Each Unit will
continue to consist of one common share in the capital of the Company (a “Share”) and one -half of one
non-transferable common share purchase warrant (each whole common share purchase warrant, a
“Warrant”), with each whole Warrant exercisable to acqui re one Share at an exercise price of CDN$0.24
per Share for a period of 36 months from the date of issuance. All other terms of the Offering, including
the price per Unit, remain unchanged from those announced by the Company on August 26, 2026.
“The response to this financing has been exceptional, and the increase will allow us to do considerably
more with our Tonopah project,” said James Hesketh, President and Chief Executive Officer of Viva Gold.
Dundee Corporation, which currently holds approximately 19.9 5% of Viva Gold’s outstanding common
shares, has indicated its intention to participate in the Offering, as increased, on a pro -rata basis to
maintain its current ownership position.
Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the
Offering would constitute a "related party transaction" as defined under Multilateral Instrument 61 -101
– Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company expects that
any such participation would be exempt from the formal valuation and minority shareholder approval
requirements of MI 61 -101, as neither the fair market value of the Units subscribed for by insiders , nor
the consideration paid for such Units by insiders will exceed 25% of the Company's market capitalization.
Viva Gold intends to use the net proceeds of the Offering, after payment of any finder’s fees, to advance
its 100%-owned Tonopah Gold Project in Nevada. The additional proceeds raised through the increase in
the size of the Offering are expected to be directed principally to an expanded follow-up exploration drill
program at the new gold discovery in the Midway Hills zone of the project. The balance of the net proceeds
will be used for detailed engineering work; environmental baseline studies; preparation of the Mine Plan
of Operations required to commence the mine permitting process; and general working capital purposes.
The Company may pay finder’s fees on a portion of the Offering, subject to compliance with the policies
of the TSX Venture Exchange and applicable securities legislation. The Company will file an amended
notice with the TSX Venture Exchange in respect of t he increased size of the Offering. Closing of the
Offering, as increased, remains subject to the approval of the TSX Venture Exchange. The securities issued
under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject
to a statutory hold period expiring four months and one day from the date of issuance of such securities.
About Viva Gold
Viva Gold’s 100% -owned Tonopah Gold Project is located within a large land position in established
goldmining country on the prolific Walker Lane Structural Trend in western Nevada, approximately a 30-
minute drive south of Kinross Gold’s Round Mountain Mine. Viva has defined a high -confidence gold
mineral resource and has demonstrated the potential for an economically viable open-pit, heap leach/mill
gold project through its 2025 preliminary economic assessme nt (PEA). Prefeasibility Study has been
initiated on the project with a final report due in fourth quarter of 2026. Viva Gold is committed to
advancing the Tonopah Gold Project in an environmentally and socially responsible manner, consistent
with management’s core values. Viva Gold is led by CEO James Hesketh, a 40-year mining industry veteran
who has led the development and construction of eight mines globally. The Board and management team
includes experienced mining professionals with expertise in exploration, project development,
construction, and mine operations. Viva Gold trades on the TSX Venture Exchange (VAU), the OTCQB
(VAUCF), and the Frankfurt Exchange (7PB). Viva currently has approximate ly 172 million shares
outstanding. The Company is advancing its Tonopah Gold Project in mining -friendly Nevada with the
support of institutional shareholders. More information is available on https://www.sedar.com and at
www.vivagoldcorp.com.
Qualified Person
James Hesketh, MMSA -QP, has approved the scientific and technical disclosure contained in this press
release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Graham Farrell, Investor Relations
(416) 842-9003
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release constitutes “forward-looking information” or
“forward-looking statements” (collectively, “forward -looking information”). Without limiting the
foregoing, such forward-looking information includes statements regarding the process and completion
of the Offering, the use of proceeds of the Offering and any statements regarding the Company’s business
plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”,
“likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative
form thereof are used to identify forward-looking information. Forward-looking information should not
be read as guarantees of future performance or results, and will not necessarily be accurate indications
of whether, or the times at or by which, such future performance will be achieved. Forward-looking
information is based on information available at the time and/or the Company management’s good faith
belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions
and other unpredictable factors, many of which are beyond the Company’s control. For additional
information with respect to these and other factors and assumption s underlying the forward -looking
information made in this news release, see the Company’s most recent Management’s Discussion and
Analysis and financial statements and other documents filed by the Company with the Canadian securities
commissions and the di scussion of risk factors set out therein. Such documents are available at
www.sedarplus.ca under the Company’s profile and on the Company’s website,
https://vivagoldcorp.com/. The forward -looking information set forth herein reflects the Company’s
expectations as at the date of this news release and is subject to change after such date. 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.