Viva GOLD Increases the Size of the Previously Announced Private Placement Offering
NR 25-13
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.
VIVA GOLD INCREASES THE SIZE OF THE
PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT
OFFERING
Langley, British Columbia – December 16, 2025 – Viva Gold Corp. (“Viva Gold” or the “Company”)
(TSXV: VAU, OTCQB: VAUCF) is pleased to announce that, due to strong investor demand, it has
increased the size of its previously announced non-brokered private placement financing (the
“Offering”), originally announced on December 11, 2025.
The Company has upsized the Offering from up to 18,750,000 units to up to 25,000,000 units at a price
of C$0.16 per unit, for gross proceeds of up to C$4,000,000.
Each unit (a “Unit”) will consist of one common share of the Company (a “Common Share”) and one-
half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”).
Each Warrant will entitle the holder to purchase one additional Common Share at an exercise price of
C$0.24 for a period of 36 months from the date of issuance.
“We are encouraged to see new shareholders coming into Viva alongside our long-time supportive
shareholders,” said Jim Hesketh, President and CEO of Viva Gold. “This strong level of interest
reinforces our confidence in the Tonopah Gold Project. We look forward to advancing the project
through feasibility work and permitting, which we believe should provide Viva shareholders with a
meaningful catalyst as we continue to unlock value.”
The net proceeds from the Offering will be used to advance technical and environmental studies in
support of feasibility-level work at the Company’s Tonopah Gold Project in Nevada, including
permitting-related activities, as well as for additional geological work and general working capital
purposes.
Certain insiders of the Company may participate in the Offering. Such participation will constitute a
“related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). The Company expects that any such
participation will be exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 as neither the fair market value of the Units to be acquired by insiders, nor
the consideration to be paid by such insiders, is expected to exceed 25% of the Company’s market
capitalization.
The Company may pay finder’s fees in connection with the Offering in accordance with the policies of
the TSX Venture Exchange.
The Offering remains subject to the approval of the TSX Venture Exchange. All securities issued in
connection with the Offering will be subject to a statutory hold period of four months and one day
from the date of issuance, in accordance with applicable securities laws.
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.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Graham Farrell, Investor Relations
(416) 842-9003
About Viva Gold Corp.
Viva Gold’s 100% owned Tonopah gold project sits in the middle of gold mining country about a half
hour drive south of the Round Mountain mine owned by Kinross Gold and controls a major land
position on the prolific Walker Lane Trend in Western Nevada. Viva has developed a high confidence
level gold Mineral Resource and can demonstrate the potential for an economically viable open pit,
heap leach/mill gold project through rigorous PEA study. Viva Gold is committed to developing the
Tonopah Gold Project in an environmentally and socially responsible fashion. These values are aligned
with management’s core values and permeate throughout our decision-making process. Viva Gold is
led by CEO James Hesketh, a 40-year veteran in the mining space who has led the development and
construction of mines around the world throughout his career. James has surrounded himself with
equally experienced mining professionals both on the management team and the board. Viva Gold
trades on the TSX Venture exchange “VAU”, on the OTCQB "VAUCF" and on the Frankfurt exchange
"7PB". Viva currently has ~145.3 million shares outstanding and boasts a best-in-class management
team and board with decades of gold exploration and production experience. The Company is
advancing its high-grade Tonopah Gold Project in mining friendly Nevada with the support of several
institutional shareholders. More information can be found on https://www.sedarplus.com and
please visit our website :https://vivagoldcorp.com/.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. Forward-looking information includes, but is not limited to,
statements regarding the completion and size of the Offering, the anticipated use of proceeds, the
advancement of feasibility work and permitting at the Tonopah Gold Project, and the potential for
future catalysts. Forward-looking information is subject to known and unknown risks, uncertainties,
and other factors that may cause actual results to differ materially from those expressed or implied.
Readers are cautioned not to place undue reliance on forward-looking information. Viva Gold
disclaims any obligation to update such information except as required by law.