kai erfle - Revival Gold

Revival Gold To Attend Conferences

kai erfle on February 25, 2021

Toronto, ON – February 25th, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces its participation in the following upcoming virtual conferences:

BMO 30th Global Metals & Mining Conference to be held as a Virtual Event on March 1 – 5, 2021. Revival Gold is scheduled to present on Thursday, March 4th at 12:15 pm EST.
PDAC 2021 Conference to be held as a Virtual Event on March 8 – 11, 2021.

Interested parties that wish to schedule a meeting, or who would like further information regarding the conferences noted above, please contact, Melisa Armand, (416) 366-4100 or email info@revival-gold.com. Corporate presentation and information materials are available on the Company’s website at www.revival‐gold.com.

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. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. 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.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020.

Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$9.1 million on December 31st, 2020. 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 Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

Cautionary Statement

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 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 intentions regarding its objectives, goals or future plans and statements. 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, 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.

Revival Gold Intersects 2.29 g/t Gold Over 45.7 Meters Including 4.58 g/t Gold Over 10.1 Meters at Beartrack-Arnett

kai erfle on February 22, 2021

Toronto, ON – February 22^nd, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, is pleased to announce results from the final ten holes of the Company’s 2020 drilling program at the Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

Highlights from today’s drill results include two core holes drilled in the Joss target area at the southern end of Beartrack. The holes were drilled to test for high-grade sulphide mineralization and to validate a conceptual underground mining target hosted within the main shear zone as well as in cross structures. Summary results below:

2.29 g/t gold over 45.7 meters¹ including 4.58 g/t gold over 10.1 meters in BT20-235D
2.41 g/t gold over 43.9 meters¹ including 6.84 g/t gold over 3.9 meters in BT20-227D
¹ Drilled width; true width is unknown at this time.

An additional five core holes were drilled between the North and South Pits in the central Beartrack area and successfully confirmed the continuity of mineralized structure over 400-600 meters of strike in this previously untested area. Mineralization in this location remains open at depth.

Finally, three core holes were drilled in the greenfield exploration target at Rabbit, approximately two to three kilometers south of the footprint of the existing Beartrack mineral resource. Difficult drilling conditions limited the 2020 program at Rabbit however, one hole, BT20-234D, intersected fracture-controlled sericite alteration with associated anomalous trace elements, including anomalous gold, that mirror the signature of mineralization at Beartrack. The results are encouraging and warrant follow-up drilling.

“Today’s drill results from Joss have transformed our understanding of the potential for high-grade underground gold mineralization at Beartrack-Arnett. We now have fourteen drill holes over approximately one kilometer of strike in the vicinity of Joss being assessed for the presence of a continuous high-grade core of mineralization. Results of the assessment are expected shortly. The Joss zone remains open to the south towards the anomalous gold intercept encountered at Rabbit, some two kilometers further south. These results, together with those between the North and South Pits, extend the potential for economic gold mineralization at Beartrack-Arnett to fully seven to eight kilometers of prospective structure,” commented President and CEO Hugh Agro.

Revival Gold is currently planning its 2021 exploration and engineering field program with drilling expected to commence in May. Further details will be available in March.

Drill Results

Hole Number	Area	Azimuth (deg.)	Dip (deg.)	From (m)	To (m)	Drilled Width¹ (m)	Fire Assay Gold Grade Uncapped (g/t)	Fire Assay Gold Grade Capped (g/t)
BT20-226D	North Pit to South Pit	301.4	-50.2	367.9	374.0	6.1	0.36
				415.1	421.2	6.1	0.39
				433.4	441.0	7.6	0.20
BT20-227D²	Joss	282.7	-59.3	122.2	127.1	4.9	1.02
				207.4	226.8	19.4	0.68
				235.3	253.1	17.8	1.20
				259.5	265.5	5.9	1.32
				312.1	325.2	13.1	1.85	1.60
Incl.				318.8	320.0	1.2	10.70	8.00
				352.3	396.2	43.9	2.41	2.40
Incl.				358.1	363.0	4.9	3.90	3.76
Incl.				358.1	358.5	0.3	10.05	8.00
				383.1	387.0	3.9	6.84
				390.4	393.2	2.8	3.84
BT20-228D	North Pit to South Pit	300.8	-65.2	135.6	168.9	33.2	0.32
BT20-229D³	North Pit to South Pit	298.1	-65.0	150.9	157.3	6.4	1.10
				166.7	182.9	16.2	0.78
Incl.				171.3	173.7	2.4	3.40
BT20-230D	North Pit to South Pit	299.5	-65.9	154.5	185.3	30.8	0.51
Incl.				154.5	169.0	14.5	0.68
BT20-232D⁴	North Pit to South Pit	299.9	-44.8	330.7	333.6	2.9	0.83
BT20-231D	Rabbit	299.6	-60.2	Difficult drilling conditions. Hole TD-ed at 367 m short of target. No significant results.
BT20-232D-W⁵	North Pit to South Pit	301.4	-36.5	299.8	303.6	3.8	0.24
				311.7	325.5	13.9	0.54
BT20-233D	Rabbit	272.4	-51.3	Difficult drilling conditions. Hole TD-ed at 157 m short of target. No significant results.
BT20-234D	Rabbit	299.4	-61.4	Difficult drilling conditions. Hole TD-ed at 382 m short of target. No significant results.
BT20-235D⁶	Joss	271.0	-49.6	261.5	265.2	3.7	3.47
				302.5	307.1	4.6	1.19
				327.1	347.8	20.7	0.79
Incl.				334.4	336.8	2.4	1.67
				353.7	362.7	9.0	2.39	1.99
Incl.				353.7	355.4	1.7	10.30	8.00
				367.3	370.3	3.0	3.01
				377.3	423.1	45.7	2.29
Incl.				410.9	420.9	10.1	4.58

¹ True width is unknown at this time. Numbers may not add up due to rounding.
² Core recovery for the intervals 125.6 meters to 127.1 meters, 355.7 meters to 356.3 meters, 356.3 meters to 357.2 meters and 394.8 meters to 396.2 meters was 30%, 25%, 17% and 30% respectively. The interval with less than 2 0% recovery was included at 0 g/t Au.
³ Core recovery for the intervals 150.9 meters to 152.1 meters, 152.1 meters to 152.7 meters, 152.7 meters to 154.2 meters and 170.7 meters to 171.3 meters was 40%, 20%, 0% and 40% respectively. The two intervals with less than 2 0% recovery were included at 0 g/t Au.
⁴ Core recovery for the interval 331.6 meters to 332.5 meters was 17%. This interval was included at 0 g/t Au.
⁵ Core recovery for interval 302.0 meters to 303.6 meters was 42%.
⁶ Core recovery for interval 380.4 meters to 381.9 meters was 30%.

Figure 1: 2020 Beartrack Drill Hole Location Plan

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.

Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$9.1 million on December 31^st, 2020. 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 Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Announces Results of Beartrack-Arnett Economic Impact Study

kai erfle on February 8, 2021

Study Highlights Significant Economic and Social Value to Lemhi County and Idaho

Toronto, ON – February 8^th, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces the results of an independently authored study (“Study”) into the potential economic impacts of the Company’s Beartrack-Arnett Gold Project (“Beartrack-Arnett”) on the local community of Lemhi County and the State of Idaho.

Highlights

$1.2 billion cumulative contribution to Idaho State Gross Domestic Product (“GDP”) over an eight-year period (one year construction, seven years of operation);
858 average annual full-time jobs supported during operations including multiplier effect with direct employment of 267 personnel at site, plus an additional 506 full-time jobs supported during construction;
$87 million and $121 million of cumulative contribution to State of Idaho and Federal tax revenues respectively over the eight-year project life;

* All amounts shown are in United States dollars unless otherwise stated.

The Study, undertaken by Idaho Regional Economist Steven Peterson, BS, MS, a long-term Associate Clinical Professor at the University of Idaho, Moscow, Idaho, is based on the results of Revival Gold’s Preliminary Economic Assessment (“PEA”) on the proposed first phase restart of open pit heap leach operations at the Beartrack-Arnett gold project located in Lemhi County, Idaho, USA (see news release dated December 18^th, 2020).

“This Study confirms the broad extent of potential economic prosperity a successful restart of the Beartrack-Arnett project offers Lemhi County, the state of Idaho, and the nation. The project could have a substantial positive impact on employment, skills development and overall economic activity and would bring a much-needed economic boost directly and indirectly to hundreds of families and local businesses in Idaho. Beartrack-Arnett has the potential to support a peak of more than 1,300 high wage full-time jobs representing almost $100 million a year in total compensation largely in a region that suffers from higher unemployment than the Idaho state average”, said President & CEO, Hugh Agro.

The PEA outlined a first phase open pit mining and heap leach operation producing an estimated 72,000 ounces of gold per year over an estimated seven-year mine life following an initial capital investment of $100 million and a one-year construction period. Including sustaining capital and other expenditures, the total cumulative gross capital investment is estimated to be $207 million. The project would generate an after-tax Net Present Value at a 5% discount rate (“NPV_5%”) of $88 million and an after-tax Internal Rate of Return (“IRR”) of 25% at a $1,550 per ounce gold price, increasing to a $211 million NPV_5% and 49% after-tax IRR at a gold price of $1,950 per ounce.

This PEA is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The Study found that during operations, Beartrack-Arnett will directly employ an average of 267 people per year with an average salary package estimated at approximately $100,000 per person, 80% higher than the average salary package in Idaho and 107% higher than the average salary package in Lemhi County where the median annual household income is $37,900. Including indirect jobs, some 858 full-time jobs will be supported each year by the mine. An additional 506 full-time direct and indirect jobs will be supported during project construction.

Over the course of eight years of expected first phase operations, total added value to the state’s GDP, will be a cumulative $1.2 billion, averaging $152 million annually. This large increase in economic activity will generate significant gains in the State’s tax base. Total gains to state and local government coffers are expected to be $84 million cumulatively, averaging $11 million annually.

Summary Estimated Economic Contributions (millions of constant 2024 dollars)

Operating Year	Direct & Indirect Jobs	GDP (US$ M)	Total Compensation (US$ M)	State and Local Taxes (US$ M)
0	1,364	$172	$113	$11
1	813	$145	$95	$10
2	742	$137	$91	$10
3	887	$152	$100	$11
4	912	$153	$101	$11
5	957	$160	$106	$11
6	795	$147	$97	$10
7	897	$152	$100	$10
Total Contributions		$1,218	$803	$84

“Revival Gold is a value-driven company. The Company’s mission is to deliver growth in gold through responsible exploration and development for the benefit of our owners, our team, and the communities in which we live and work. Helping local stakeholders understand the potential economic benefits of Beartrack-Arnett to their community is part of our commitment. The Company is committed to hiring locally, skills development and other sustainable benefits, as well as initiatives to minimize greenhouse gas emissions through technology and the use of Idaho’s low carbon sources of energy”, added Mr. Agro.

Revival Gold is advancing Beartrack-Arnett towards a Pre-Feasibility Study expected to be completed by year-end 2022. Meanwhile, exploration continues. Interested parties are encouraged to visit www.revival-gold.com or contact Revival Gold at info@revival-gold.com for more information.

Qualified Persons

Mr. Rodney A. Cooper, P.Eng., a QP and a consultant to the Company, and Steven T. Priesmeyer, C.P.G., a QP and Vice President Exploration for the Company, are the Company’s designated Qualified Persons for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and have 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.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Rodney A. Cooper, P.Eng., a consultant to the Company and Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Extends Haidee Zone With Final 2020 Drilling Results From Beartrack-Arnett

kai erfle on January 25, 2021

Toronto, ON – January 25^th, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, is pleased to announce results from the final seven drill holes from the Company’s 2020 drilling program on the Haidee zone at the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

The seven holes released today are core holes drilled in the Haidee zone to upgrade and expand the resource. All holes intersected near surface oxidized gold mineralization. The Haidee zone remains open and now extends over 600 meters of strike and projects across strike and up dip about 400 meters.

Highlights

0.55 g/t gold over 16.7 meters¹ in AC20-054D
0.53 g/t gold over 20.5 meters and 0.25 g/t gold over 31.7 meters¹ in AC20-066D
0.61 g/t gold over 18.6 meters¹ in AC20-067D
0.56 g/t gold over 22.6 meters¹, 0.79 g/t gold over 14.5 meters¹ and 0.69 g/t gold over 16.3 meters¹ in AC20-069D
¹ Drilled width; true width estimated to be approximately equivalent to drilled width except for hole AC20-069D, where the true width is unknown at this time.

“Revival Gold exceeded expectations for the 2020 drilling program at Haidee. With complete results from all thirty drill holes now in hand, we can see that the footprint of near-surface oxide gold mineralization has indeed grown. The program further reveals additional stacked mineralized structures extending up dip to the north-east. Haidee remains open in all directions and offers the potential to significantly increase the mine life and reduce the expected strip ratio for the planned first phase heap leach operation at Beartrack-Arnett. Further Beartrack-Arnett drill results from additional zones are expected next month. Meanwhile, preparations have begun to resume resource expansion drilling in the spring,” said President and CEO Hugh Agro.

Drill Results

Drillholes AC20-054D, 56D, 61D and 66D were drilled along the northeastern margin of the existing mineral resource. The holes indicate that the Haidee deposit extends up-dip into the gold soil anomaly northeast of the current resource. The anomaly is largely untested by drilling to-date.

Holes AC20-067D and AC20-068D were drilled at the northern and southern ends of the existing mineral resource respectively, and indicate that mineralization continues in both directions. AC20-069D was drilled to the southwest and encountered several zones of mineralization. The area represents a future drill target with potential to add to the existing Haidee mineral resource.

Detailed results for the Haidee target drill holes released today are presented in the table below:

Hole Number	Area	Azimuth(deg.)	Dip(deg.)	From (m)	To (m)	Drilled Width¹ (m)	Fire Assay Gold Grade Uncapped² (g/t)	Fire Assay Gold Grade Capped² (g/t)
AC20-054D³	Haidee	218.4	-75.4	103.0	109.1	6.1	0.60
				136.6	142.6	6.1	0.59
				152.9	158.7	5.8	0.58
				181.4	198.1	16.7	0.55
AC20-056D	Haidee	34.6	-80.2	74.4	79.6	5.2	0.59
				131.1	132.0	0.9	1.31
AC20-061D⁴	Haidee	66.6	-58.5	25.9	37.9	12.0	0.21
				117.8	122.4	4.6	0.33
				142.5	143.7	1.2	3.61
AC20-066D⁵	Haidee	62.5	-61.3	4.0	35.7	31.7	0.25
				87.5	90.5	3.0	0.70
				99.1	119.5	20.5	0.53
Incl.				102.9	104.4	1.5	4.45
				126.5	130.5	4.0	0.43
AC20-067D	Haidee	62.6	-60.6	37.5	56.1	18.6	0.61
Incl.				52.4	53.9	1.5	3.19
				98.1	105.3	7.2	6.74	1.20
Incl.				103.6	104.4	0.8	60.10	8.0
AC20-068D	Haidee	60.7	-60.0	55.8	61.9	6.1	0.34
				73.5	76.5	3.0	0.32
				130.2	131.5	1.3	6.49
AC20-069D⁶	Haidee	244.5	-61.7	13.1	35.7	22.6	0.56
				43.9	58.4	14.5	0.79
Incl.				48.2	49.7	1.5	3.55
				75.0	91.3	16.3	0.69
Incl.				82.6	91.3	8.7	0.95
				98.5	105.8	7.3	0.77

¹ True width estimated to be approximately equivalent to drilled width although some variation may occur. True widths for hole AC20-069D are unknown at this time. Numbers may not add up due to rounding.
² Where applicable, grades at Arnett are capped at 8.0 g/t Au using the methodology described in the Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated December 17^th, 2020.
³Core recovery for the interval 106.0 meters to 107.6 meters was 27%.
⁴Core recovery for intervals for the intervals 27.4 meters to 28.3 meters, 31.7 meters to 34.4 meters and 115.5 meters to 116.1 meters was 0%, 13% and 0% respectively. All three intervals were included at 0 g/t Au.
⁵Core recovery for the intervals 15.5 meters to 16.8 meters, 21.5 meters to 23.7 meters and 28.0 meters to 29.6 meters was 0%, 6% and 50% respectively. The intervals with 0% recovery were included at 0 g/t Au.
⁶ Core recovery for the intervals 22.3 meters to 23.8 meters and 55.2 meters to 55.8 meters was 44% and 25% respectively.

Figure 1 below is a plan view of the Haidee target area describing the collar locations for all 30 drill holes completed and now released from the 2020 drilling program.

Figure 1: Haidee Target Area 2020 Drilling Program

Figure 2 presents an illustrative cross section through the Haidee deposit. Note the stacked zones of mineralization extending up-dip to the north-east.

Figure 2: Haidee Deposit Sections 65-17 (looking north-west)

Upcoming Activities

Ten core holes were completed at Beartrack in 2020 for approximately 3,500 meters of drilling. Complete assay results for all holes are expected within the next four weeks.

Revival Gold’s review of the data collected during the 2020 exploration program is underway. This includes data from drilling, Induced Polarization-Resistivity surveys at Arnett and Beartrack and geologic mapping at Arnett.

Revival Gold is working with Mira Geoscience, a geological consulting firm with expertise in three-dimensional modeling and artificial intelligence, to integrate all drilling data, including historical blast hole drilling from the Beartrack mine, geological, geochemical and geophysical data to generate a three-dimensional model of the mineral systems at Beartrack-Arnett. The aim is to improve the Company’s understanding of mineralization controls at the deposit scale, the controls on higher grades within the deposits and to identify additional exploration targets beyond the known resource.

Revival Gold is also preparing for the 2021 field season. Exploration plans are currently being developed for a 5,000 to 10,000 meter drilling program, ground geophysics in the Rabbit area and additional field work on newly staked ground in the Arnett area. In addition to ongoing exploration, Revival Gold is finalizing plans for a program of geotechnical and hydrological drilling, further metallurgical testing and environmental and mine permitting preparations. Details and planned expenditures will be finalized by the end of the current quarter.

Qualified Person

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.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

Cautionary Statement

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold 2020 Year In Review

kai erfle on December 30, 2020

Toronto, ON – December 30^th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, provides a summary of the Company’s key 2020 accomplishments advancing the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

Highlights

Increased Beartrack-Arnett’s Inferred Mineral Resource estimate by 114% to 47.1 million tonnes grading 1.08 g/t gold containing 1.64 million ounces of gold and the project’s Indicated Mineral Resource estimate by 11% to 36.6 million tonnes grading 1.15 g/t gold containing 1.36 million ounces of gold;
Raised C$15 million in an upsized bought-deal equity financing with funds earmarked towards advancing Beartrack-Arnett exploration and technical studies in 2020 and 2021;
Announced the appointment of Maura Lendon as a non-executive member of the Board;
Delivered a solid First Phase Preliminary Economic Assessment (“PEA”) outlining initial production of 72,000 ounces gold per year from the restart of open pit heap leach operations at Beartrack-Arnett with initial capital of $100 million and an AISC of $1,057 per ounce;
Completed 8,450 meters of drilling in 40 core holes in four target areas to upgrade and expand the resource at the Haidee target and test new targets located along approximately eight kilometers of favourable geological structure at Beartrack-Arnett;
Released results from 23 drill holes at the Haidee target all of which intersected oxide gold mineralization close to surface including 0.93 g/t gold over 28.3 meters and 0.86 g/t gold over 48.5 meters;
Initiated work on a fully integrated three-dimensional computer model of the geology at Beartrack-Arnett to facilitate the application of industry leading artificial intelligence technologies, deepen Revival Gold’s understanding of the deposit setting and target high grade mineralization on the project; and,
Achieved an exemplary safety record with zero lost-time incidents among Company employees and contractors this year.

“Despite difficult operating conditions through most of 2020, Revival Gold’s operating team is to be commended for delivering a zero-lost time year while the company continued to grow and de-risk its flagship Beartrack-Arnett Gold Project. A significant expansion of the Mineral Resource in February paved the way for a large equity financing in August and the completion of a PEA on the first phase restart of open pit heap leach operations in November. Mineralization at Beartrack-Arnett remains open along strike and at depth. As the year draws to a close, Revival Gold has begun to release results demonstrating the potential to build on the recent first phase PEA heap leach mine plan and advance the prospect for an exciting new second phase mill opportunity,” said President and CEO Hugh Agro. “The outlook for gold is favorable going into 2021 while new quality growth projects in gold in good locations are becoming increasingly rare,” he added.

Qualified Person

About Revival Gold Inc.

Revival Gold Inc. is a growth-focused gold exploration and development company. The Company has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing Beartrack Gold Project located in Idaho, USA. Revival Gold also owns rights to a 100% interest in the neighboring Arnett Gold Project.

Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$12.7 million on September 30^th, 2020. 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 Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Files NI 43-101 PEA Technical Report

kai erfle on December 18, 2020

Toronto, ON – December 18th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces the SEDAR filing of an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) supporting the results of a Preliminary Economic Assessment (“PEA”) on the Company’s Beartrack-Arnett (“Beartrack-Arnett”) phase one heap leach gold project located in Idaho, USA. The results of the PEA were reported in the Company’s news release dated November 17th, 2020 and there are no material differences in the Report from those results. The effective date of the report is November 17th, 2020.

Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights*

Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an initial seven-year mine life;
Pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61 million;
Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
After-tax NPV at a 5% discount rate (“NPV_5%“) of $88 million and after-tax IRR of 25% at $1,550 per ounce gold increasing to a $211 million NPV_5% and 49% IRR at $1,950 per ounce gold;
After-tax payback period of 3.0 years;
Lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho; and,
Excellent additional exploration potential as demonstrated by this season’s drill results and with over 10km of favorable geological structure to explore.

* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.

The PEA is preliminary in nature; it includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The full Report prepared by Wood plc of Oakville, Canada and Boise, Idaho and dated December 18th, 2020 entitled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project Lemhi County, Idaho, USA – NI 43-101 Technical Report”, to be found on the Company’s website at www.revival-gold.com and on SEDAR under the Company’s issuer profile at www.sedar.com.

Qualified Persons

Steven T. Priesmeyer, C.P.G., a QP and Vice President Exploration for the Company, and Mr. Rodney A. Cooper, P.Eng., a QP and a consultant to the Company, are the Company’s designated Qualified Persons 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.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 18th, 2020.

Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$12.7 million on September 30th, 2020. 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 Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Intersects Near-Surface Oxide Gold In An Additional Eleven Drill Holes At Beartrack-Arnett

kai erfle on December 10, 2020

Toronto, ON – December 10th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces results from an additional eleven drill holes from the Company’s 2020 drilling program on the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

The eleven holes released today are core holes drilled in the Haidee target area to upgrade resources from the Inferred category to the Indicated category (see Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21st, 2020) and to expand the resource along strike and up-dip.

Highlights

1.01 g/t gold over 11.0 meters¹ and 0.39 g/t gold over 10.4 meters¹ in AC20-49D
0.40 g/t gold over 13.2 meters¹ AC20-052D
0.86 g/t gold over 48.5 meters¹ in AC20-059D
0.45 g/t gold over 36.1 meters¹ in AC20-062D
0.83 g/t gold over 13.4 meters¹ in hole AC20-065

¹ Drilled width; true width estimated to be approximately equivalent to drilled width.

Drillholes AC20-062D and AC20-059D were drilled along the northeast margin of the existing mineral resource at Haidee. Both holes intersected long intervals of gold mineralization indicating that mineralization extends up-dip into the gold soil anomaly northeast of the current Haidee resource. The anomaly is largely untested and represents an attractive target for further exploration.

“We are very pleased to see additional broad intercepts of near-surface oxide gold mineralization in the Haidee area. The results offer potential to expand the open pit heap leach mine plan outlined in the results of Revival Gold’s first phase Preliminary Economic Assessment released in November,” said President and CEO Hugh Agro.

Drill Results

Detailed results for the Haidee target drill holes released today are presented in the table below:

Hole Number	Area	Azimuth (deg.)	Dip (deg.)	From (m)	To (m)	Drilled Width¹ (m)	Fire Assay Gold Grade² (g/t)
AC20-049D³	Haidee	64.6	-60.9	4.0	14.9	11.0	1.01
Incl.				6.8	8.8	2.0	3.67
				20.3	23.7	3.4	0.72
Incl.				20.3	20.7	0.5	3.19
				80.2	84.4	4.3	1.15
				91.1	101.5	10.4	0.39
				111.6	137.3	25.7	0.27
AC20-052D⁴	Haidee	82.4	-47.2	22.9	34.4	11.6	0.28
				71.0	77.1	6.1	0.28
				106.1	119.3	13.2	0.40
Incl.				106.1	107.6	1.5	2.67
				140.5	151.5	11.0	0.22
				181.2	189.2	8.1	0.20
AC20-055D⁵	Haidee	88.1	-46.3	2.7	9.1	6.4	0.81
				25.6	29.0	3.4	0.54
				62.2	69.2	7.0	1.03
				98.1	102.0	3.8	1.70
				120.9	122.6	1.8	0.35
				144.8	148.4	3.7	0.48
				168.8	173.6	4.8	0.24
				182.3	184.7	2.4	0.28
AC20-057D⁶	Haidee	63.3	-60.3	7.3	11.9	4.6	0.41
				41.8	70.9	29.2	0.19
				96.5	117.1	20.6	0.21
				130.1	136.2	6.1	0.26
				142.5	144.6	2.1	0.40
AC20-058D	Haidee	77.3	-50.8	56.4	59.4	3.0	2.82
Incl.				56.4	57.9	1.5	5.38
				82.5	86.6	4.1	0.87
Incl.				82.5	83.2	0.7	2.97
AC20-059D⁷	Haidee	66.6	56.0	3.8	8.5	4.7	0.28
				17.4	23.2	5.8	0.31
				44.5	48.2	3.7	0.33
				64.6	113.1	48.5	0.86
Incl.				64.6	66.4	1.8	3.59
Incl.				84.7	92.4	7.6	1.55
Incl.				86.3	87.6	1.4	4.13
Incl.				99.1	100.5	1.4	7.66
				127.4	132.0	4.6	0.60
AC20-060D	Haidee	64.8	-63.4	74.1	77.1	3.0	0.24
				155.4	165.8	10.4	0.70
Incl.				158.5	165.8	7.3	0.93
AC20-062D⁸	Haidee	61.0	-60.5	5.5	12.5	7.0	0.91
				27.4	46.6	19.2	0.25
				99.5	135.6	36.1	0.45
Incl.				105.6	110.2	4.6	1.14
AC20-063D	Haidee	63.9	-60.8	No significant results
AC20-064D⁹	Haidee	65.8	-60.0	6.9	11.6	4.7	0.21
AC20-065D¹⁰	Haidee	64.1	-60.9	17.5	30.9	13.4	0.83
				83.9	89.9	6.0	0.89
				113.3	134.1	20.8	0.19

¹True width estimated to be approximately equivalent to drilled width although some variation may occur. Numbers may not add up due to rounding.
² Where applicable, grades at Arnett are capped at 8.0 g/t Au using the methodology described in the Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21st, 2020. No capping was applicable in the results presented above.
³ Average core recovery for the interval 4.0 meters to 14.9 meters was 74%. Recovery for individual intervals was as follows: 7.0 meters to 7.9 meters – 38%; 8.8 meters to 10.1 meters – 50%; 11.3 meters to 12.6 meters – 43%; 13.1 meters to 13.7 meters – 25%; 14.0 meters to 14.3 meters – 50%.
⁴ Core recovery for intervals with recovery below 50% was as follows: 22.9 meters to 23.2 meters – 50%; 23.5 meters to 23.8 meters – 50%; 143.6 meters to 145.1 meters – 36%.
⁵ Core recovery for intervals for the intervals 6.1 meters to 7.6 meters and 8.2 meters to 8.5 meters was 40% and 0%; respectively. The interval from 8.3 meters to 8.5 meters was included at 0 g/t Au.
⁶ Core recovery for the intervals with recovery below 50% was as follows: 10.8 meters to 11.9 meters – 43%; 113.4 meters to 114.9 meters was 0%; 114.9 meters to 116.4 meters – 50%; 130.1 meters to 130.8 meters – 40%. The interval from 113.4 meters to 114.9 meters was included at 0 g/t Au.
⁷ Core recovery for the interval 45.1 meters to 46.6 meters was 50%.
⁸ Core recovery for the interval 110.2 meters to 111.1 meters was 40%.
⁹ Hole AC20-064D represents the re-drilled upper 32.0 meters of hole AC20-046D, which had very poor core recovery.
¹⁰ Core recovery from 20.3 meters to 20.7 meters was 13%.

Figure 1 below is a plan view of the Arnett Haidee target area describing the collar locations for all thirty drill holes completed in this year’s drilling program (including those for which results have been released to-date).

Figure 1: Haidee Target Area 2020 Drilling Program

Drill Program Update

The thirty exploration and infill drill holes completed this season on the Haidee target totaled approximately 4,900 meters of drilling.

A further five holes have been completed between the North and South Pit areas totaling approximately 1,660 meters. The holes in this area cover a strike length varying from 400 to 600 meters along the Panther Creek Shear Zone (“PCSZ”). Each of the holes intersected the PCSZ with varying amounts of oxidized and unoxidized sulfides in each hole.

An initial three exploration holes have been drilled in the Rabbit target area for a total of approximately 900 meters. Difficult drilling conditions limited the depth of drilling at Rabbit, however, the operating and geological information obtained in drilling these holes will be of use in planning next year’s follow-up program.

This year’s drill program will conclude shortly with the completion of two exploration drill holes in the Joss target area for a total of approximately 960 meters. Remaining assay results for the seven outstanding drill holes at Haidee and the nine outstanding drill holes at Beartrack are expected to be available in January and February 2021.

Claim Staking

Revival Gold staked an additional 47 claims on the northwestern boundary of the Beartrack-Arnett property this fall. The claims were staked around the periphery of the existing claim block to cover areas of alteration or conceptual targets developed during the Company’s 2020 mapping program. The new claims cover approximately 380 hectares, bringing the area covered by Revival Gold’s total land position at Beartrack-Arnett to approximately 5,800 hectares.

Upcoming Activities

With 2020 field work coming to an end, Revival Gold has initiated a review of the data collected during this year’s exploration program and the integration of this data into the Beartrack-Arnett geological model. In connection with these activities, the Company has contracted Mira Geoscience Ltd. (“Mira”), a geological consulting firm with expertise in three-dimensional computer modeling and artificial intelligence. Mira will take a holistic approach to data analysis, integrating all drilling data, including historical blast hole drilling from the Beartrack mine, geological, geochemical, and geophysical data to generate a three-dimensional model of the mineral systems at Beartrack-Arnett. The aim is to build on the Company’s understanding of mineralization controls at the deposit scale, the controls on higher grades within the deposits and to identify additional exploration targets beyond the known resource.

The Company has also retained consulting structural geologist, Mr. Brett Davis, to investigate incidents of high-grade mineralization within the current mineral resource at Beartrack-Arnett, at depth and along strike within the PCSZ. Drilling in the PCSZ to-date has intersected several instances of bonanza-style grades including 71 g/t gold over 9.8 meters (BT12-175D), 23.1 g/t gold over 3.3 meters (BT17-201D), and 20.1 g/t gold over 2.1 meters (BT18-221D). These results have received little follow-up to-date.

Qualified Person

About Revival Gold Inc.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s press release dated November 17th, 2020 and NI 43-101 compliant technical report titled “Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21st, 2020.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Announces AGM Results and Option Grant

kai erfle on November 24, 2020

Toronto, ON – November 24^th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth-focused gold exploration and development company, announces voting results for the election of directors at its Annual General Meeting (“AGM”) of Shareholders held on November 24^th, 2020, in Toronto.

A total of 33,508,817 common shares representing 47.1% of the Company’s issued and outstanding shares were voted in connection with the AGM. Shareholders approved all items of business before the AGM including the election of Directors as follows:

Director Nominees	Votes For	% of Votes Cast
Wayne Hubert	27,043,048	99.8%
Hugh Agro	27,063,304	99.9%
Donald Birak	27,043,048	99.8%
Robert Chausse	27,049,219	99.9%
Maura Lendon	27,033,219	99.8%
Michael Mansfield	27,047,219	99.9%
Carmelo Marrelli	24,509,469	90.5%

Following the AGM, Revival Gold re-appointed Wayne Hubert as Chairman of the Board, Robert Chausse as Audit Committee Chair, Carmelo Marrelli as Compensation Committee Chair and Donald Birak as Technical, Safety, Environment and Social Responsibility Committee Chair, and appointed Maura Lendon as Corporate Governance and Nominating Committee Chair.

Subject to regulatory approval, Revival Gold has granted 1,325,000 incentive stock options to directors, officers, and consultants of the Company as part of its annual compensation plan. Pursuant to the Company’s Stock Option Plan, the options are exercisable at a price of $1.00 per share for a period of five years and are subject to vesting provisions.

About Revival Gold Inc.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s press release dated November 17^th, 2020 and NI 43-101 compliant technical report titled “Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21^st, 2020.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Delivers Solid Phase One Preliminary Economic Assessment

kai erfle on November 17, 2020

72,000 ounces gold per year at $1,057 per ounce AISC with a 25% after-tax IRR

Toronto, ON – November 17th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, is pleased to announce positive results from a Preliminary Economic Assessment (“PEA”) on the Company’s Beartrack-Arnett (“Beartrack-Arnett”) phase one heap leach gold project located in Idaho, USA.

Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights*

Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an initial seven-year mine life;
Pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61 million;
Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
After-tax NPV at a 5% discount rate (“NPV5%”) of $88 million and after-tax IRR of 25% at $1,550 per ounce gold increasing to a $211 million NPV5% and 49% IRR at $1,950 per ounce gold;
After-tax payback period of 3.0 years;
Lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho; and,
Excellent additional exploration potential as demonstrated by this season’s drill results and with over 10km of favorable geological structure to explore.

* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.

For the purposes of this phase one PEA, only oxide and partially oxidized mineralization amenable to gold recovery using standard cyanide heap leach processing was evaluated representing less than a third of available mineralized material. Beartrack-Arnett also hosts a significant sulfide resource, much of which was not included in this PEA.

“This PEA supports Revival Gold’s plans to resume meaningful heap leach gold production from Beartrack-Arnett with low re-start capital and robust economics,” commented Hugh Agro, President and CEO. “Beartrack-Arnett ranks as one of the largest independently-owned undeveloped gold deposits in the United States. As a brownfield site, Beartrack-Arnett offers significant existing baseline environmental data, infrastructure, and operating history for Revival Gold to utilize. This should translate into shorter permitting timelines and lower technical and execution risk. Over the course of the next two years Revival Gold will continue with its exploration strategy to expand the resource base at Beartrack-Arnett while progressing the first phase heap leach project towards a production decision. We also intend to evaluate the potential for a second phase sulfide milling project so that we might fully realize the inherent value of all the gold resources identified at Beartrack-Arnett to-date.”

The PEA was prepared in accordance with National Instrument 43-101 (“NI 43-101”) by Wood plc (“Wood”) of Oakville, Canada and Boise, Idaho with an effective date of November 17th, 2020. The Company will file a technical report summarizing the PEA on www.revival-gold.com and on SEDAR at www.sedar.com in accordance with NI 43-101 within 45 days.

Conference Call

Management will host a conference call later today to discuss the results of the PEA. Call-in information below:

Scheduled Start:	November 17th, 2020, 10:00 am EST
Call-In Number:	416-764-8658
Toll Free in North America:	888-886-7786

A replay of the conference call will be available for one week at 416-764-8691 or toll free in North America at 877-674-6060. Playback passcode 347502#.

Further Details

Table 1 below summarizes the key PEA technical and financial inputs and results.

Table 1 – Technical Inputs and Financial Assumptions

Economics	Units	Pre-Tax	Post-Tax
Net present value (NPV5%)	US$ M	$103	$88
Internal rate of return (IRR)	%	28%	25%
Payback Period (undiscounted)	years	2.9	3.0
LOM avg. annual cash flow	US$ M	$22	$19
LOM cumulative cash flow (undiscounted)	US$ M	$153	$134
LOM Average cash costs	US$ per ounce	$809
LOM Average AISC – All in Sustaining Costs	US$ per ounce	$1,057
LOM Average AIC – All in Costs	US$ per ounce	$1,254
Pre-Production Capital Costs	US$ M	$100
Sustaining Capital Costs (LOM)	US$ M	$62
Peak Investment	US$ M	$112
Gold price assumption	US$ per ounce	$1,550
Royalty	per ounce	$19
Mine life	years	7
Head Grade (diluted)	g/t Au	0.87
Average Recovery	% (FA)	60%
Average annual mining rate	tonnes/day	12,000
Average annual gold production	ounces/year	72,288
Total LOM recovered gold	ounces	506,016

Mineral Resource Estimate

The mineral resource estimate has been reported in accordance with NI 43-101 and was prepared by RPA Inc. (“RPA”), a subsidiary of SLR Consulting Limited. (“SLR”), with an effective date of December 10th, 2019 (see Revival Gold press release dated February 3rd, 2020 and the Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21st, 2020).

Following the February 21st, 2020 Technical Report, a follow-up review of the Arnett resources and a sensitivity analysis conducted by RPA resulted in a fine tuning and reclassification of 3,000 ounces from the Inferred to the Indicated category. For this PEA, the resource estimate at Arnett has been restated to reflect this change and is not considered material to the economics of the property as the total Indicated plus Inferred remains unchanged. Results from Revival Gold’s 2020 exploration drilling program are not included in this estimate.

Table 2: Mineral Resource Estimate

Resource Category	Tonnes (’000 t)	Gold Grade (g/t Au)	Contained Gold (000 oz)
*Indicated Leach*
Beartrack – Open Pit	11,900	0.56	215
Arnett – Open Pit	2,500	0.65	52
*Indicated Mill*
Beartrack – Open Pit	22,216	1.52	1,089
Beartrack – Underground	NA	NA	NA
Total Indicated	36,616	1.15	1,356

*Inferred Leach*
Beartrack – Open Pit	9,961	0.53	169
Arnett – Open Pit	8,200	0.55	144
*Inferred Mill*
Beartrack – Open Pit	22,228	1.19	850
Beartrack – Underground	6,700	2.19	471
Total Inferred	47,089	1.08	1,638

See Notes on following page.

Effective date of December 10, 2019. CIM (2014) definitions were used for Mineral Resource classification.
Qualified Persons:
Mark B. Mathisen, C.P.G, Ryan Rodney, C.P.G., Kathleen A. Altman, Ph.D., P.E.
Mineral Resources were tabulated for model blocks with positive net value located within an optimized conceptual pit.
The price, recovery, and cost data translate to a breakeven gold cut-off grade of approximately 0.52 g/t Au for mineral resources amenable to the mill option and open pit mining; and 0.17 g/t Au for the mineral resources amenable to the leach option and open pit mining at Beartrack; a breakeven gold cut-off grade of approximately 1.26 g/t Au for the incremental underground mill option at Beartrack, and approximately 0.19 g/t Au for the leach option and open pit mining at Arnett. The cut-off grades include considerations of metal price, process plant recovery, mining, processing, and general and administrative costs. A gold price US$1,400 per ounce was used in the estimation. Additional details below.
Tonnes are based on bulk density of each lithologic unit ranging at Beartrack from 2.0 t/m3 to 2.75 t/m3. An average bulk density of 2.35 t/m3 was used at Arnett.
Leachability is yet to be determined and further metallurgical studies are required to fully understand the behaviour of transitional and sulfide ores when mixed with readily leachable oxide materials. Leach material defined by cyanide soluble grade leach characteristics.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content. The geological model supporting the mineral resource model is based on interpretations based on drilling and mapping which may change with more data. The metallurgical sampling data may not be representative of the material as a whole, or may have significant variations locally in the metallurgical characteristics that could affect cost or recoveries.
The cut-off grade for the open pit mill resource assumes a 20,000 tpd flotation mill with pressure oxidation of flotation concentrate followed by cyanidation of the concentrate and the flotation tailings, with gold recovery of 94%, pit slopes of 37-50%, mining costs of $2.25 per tonne, re-handle costs of $0.10 per tonne, G&A costs of $0.50-$1.00 per tonne and a mill processing cost of $18.46 per tonne.
The cut-off grade for the mineral resources amenable to underground mining and mill processing assumes a 3,000 tpd, ramp-access, mechanized mine with a bulk mining method and mining cost of $35.00 per tonne.
The cut-off grade for the mineral resources amenable to open pit mining and heap leach processing assumes recoveries of 85% of cyanide soluble gold at Beartrack and 75% of contained gold at Arnett. Pit slopes of 37-50%. Mining costs were assumed to be $2.25 per tonne, G&A costs of $0.50-$1.00 per tonne and heap leach processing costs of $3.25 per tonne processed.

Mine Production Schedule
Table 3: Mine Production Schedule

Item/Year		PP1	Y1	Y2	Y3	Y4	Y5	Y6	Y7	Life of Mine
Mined Processed Material	Tonnes/Day	n. a.	12,003	12,003	12,003	12,003	12,003	12,004	10,737	11,822
Mined Processed Material	Tonnes ’000	0	4,381	4,381	4,381	4,381	4,381	4,382	3,919	30,206
Mined Waste	Tonnes ’000	5,573	11,953	11,953	11,953	11,953	11,953	11,952	8,290	85,579
Mined Total	Tonnes ’000	5,573	16,334	16,334	16,334	16,334	16,334	16,334	12,209	115,786
Stripping Ratio	Waste to Processed Material	n. a.	2.7	2.7	2.7	2.7	2.7	2.7	2.1	2.8
Head Grade	g/t Au	0.00	1.13	0.82	0.77	1.20	0.87	0.77	0.52	0.87
Contained Gold	Ounces	0	159,475	116,084	107,786	169,045	122,459	107,922	65,234	848,005
Recovery	% (FA)	0%	47%	63%	65%	46%	60%	73%	89%	60%
Recovered Gold	Ounces	0	75,177	73,263	70,084	77,462	73,620	78,494	57,916	506,016

Infrastructure

Existing infrastructure incorporated into the PEA includes the main access road, the main powerline, the ADR plant, solution ponds, water treatment plant, the core warehouse and portions of the existing road from Beartrack to Arnett.

Capital Costs

Pre-production capital costs include a 22% contingency on direct and indirect costs. The pre-production capital costs also include owner’s costs, EPCM (engineering, procurement and construction management) costs, operating inventories, insurance and indirect costs. Major mining equipment is included in the financial analysis under an operating lease arrangement.

Trade-off studies were evaluated including developing crushing and leach pad facilities at the Arnett deposit (together with a powerline from Beartrack), mobile compared to stationary crushing facilities, contractor mining compared to owner operation in the first two years, and a higher early cash flow mining plan alternative.

Table 4 below summarizes estimated capital costs. The estimating cost accuracy for the study is +/-35% (AACE Class 5). Rows and columns may not add precisely due to rounding.

Table 4: Capital Cost Summary

Item	Pre-Production Capital (US$ M)	Sustaining Capital (US$ M)	Life of Mine Capital (US$ M)
Open pit mine	$16	$5	$21
Heap Leach facilities	$12	$40	$52
Process Facilities	$19	$2	$21
Infrastructure	$15	$3	$18
Indirect Costs	$10	$2	$12
Owner’s Costs	$8	$0	$8
Contingency	$20	$10	$30
Subtotal	$100	$62	$162
Mine Equipment Lease	$21	$8	$29
Working Capital	$7	-$7	$0
Reclamation / Closure	$4	$13	$17
Grand Total	$132	$75	$207

Operating Costs

Owner operating costs were developed from first principles and are summarized in Table 5 below.

Table 5: Operating Cost Summary

Costs	Units	US$
Mining	Per tonne	$2.05
Stripping Ratio	Waste to Processed Material	2.8

Mining	Per tonne processed	$7.49
Processing	Per tonne processed	$4.65
G&A	Per tonne processed	$1.10
Operating Costs	Per tonne processed	$13.24

Total Cash Costs	Per ounce gold sold	$809
All-in Sustaining Costs	Per ounce gold sold	$1,057
All-in Capital Costs	Per ounce gold sold	$1,254

Metallurgy

The estimated average recovery of gold from the heap leach pad in the PEA is estimated to be 60%. The estimated average recovery reflects recoveries of 87% for oxide material, 55% for transition material and 28% for sulfide material. A breakdown of the type of mineralization processed and estimated heap leach recoveries by category of mineralization is summarized in Table 6 below:

Table 6: Heap Leach Recoveries by Category

PEA Classification	Material	Heap Leach
of Material Processed	Processed (M tonnes)	Gold Recovery
Oxide	19	87%
Transition	5	55%
Sulfide	6	28%
Heap Leach PEA Total	30	60%

Gold Price Sensitivities

Table 7 below demonstrates the post-tax sensitivities of the NPV and IRR to the price of gold per ounce. The base case, highlighted in the table below, assumes US$1,550 per ounce of gold.

Table 7: Gold Price Sensitivity

Economic Sensitivities to Gold Prices (post-tax)
Gold Price ($US per ounce)	NPV5% ($US M)	IRR (%)
$1,350	$22	11
$1,450	$55	18
$1,550	$88	25
$1,650	$119	32
$1,750	$150	38
$1,850	$180	43
$1,950	$211	49

Project economic results are most sensitive to revenue drivers (gold price, gold grade and recovery) as illustrated in Figure 1 below. Results are less sensitive to input operating and capital costs.

Figure 1: PEA Sensitivity

Key Opportunities

The PEA outlined several initiatives that may enhance the potential of Beartrack-Arnett including:

Exploration drilling to expand the heap leach mineral resources in the Haidee area at Arnett;
Exploration drilling to identify additional mineral resources to process by heap leach or mill at Beartrack;
Further technical work on the segregation of transition and sulfide heap leach pads for potential further future processing and gold recovery in a milling scenario to reduce the final closure and reclamation requirement;
Potential to increase the production rate for a heap leach operation beyond 12,000 tonnes per day with the discovery of additional mineral resources amenable to heap leach recovery; and,
Potential to incorporate a mill operation in conjunction with the heap leach operation to fully realize all potential value from the mineral resources identified.

Next Steps

The recommended follow-up program in the PEA includes two phases of exploration and infill drilling, and the completion of a pre-feasibility study for the phase one heap leach project. The program supports the required studies and public consultation for completion of the National Environmental Policy Act (or NEPA) process, with the US Forest Service as the lead agency, as well as for securing required State and local permits.

In addition, the recommended program provides for the completion of a preliminary economic assessment on a phase two milling scenario at Beartrack.

See summary recommended program budget in Table 8 below.

Table 8: Recommended Budget

Area	Total Cost ($US M)	Description
Phase 1 Beartrack Diamond Drilling	$2.0	Infill and Exploration
Phase 1 Arnett Diamond Drilling	$1.0	Infill and Exploration
Phase 2 Diamond Drilling	$6.0	Infill and Exploration
Mineral Resource Estimate	$0.3	Update after drilling
Engineering field program drilling	$1.3	Geotechnical, metallurgy, hydrology
Engineering field programs	$0.8	Geotechnical, metallurgy, hydrology
Technical/Economic Studies	$2.0	Heap leach PFS, milling PEA
Environmental Management Planning	$0.4	Baseline environmental, ARD study
Environmental Studies, Permits	$2.5	Heap leach project, post PFS
Project Management & Administration	$1.5	Indirect costs, management, contingency
Total Work Recommendation:	$17.7

Independent Qualified Persons

The Preliminary Economic Assessment was prepared for Revival Gold by independent Qualified Persons (QP’s) under NI 43-101 from Wood from Oakville, Canada and Boise, USA, RPA/SLC from Toronto, Canada and Denver, Colorado, and KC Harvey Environmental, LLC (“KC Harvey”) from Bozeman, Montana. The independent QP’s have reviewed and approved the economic and technical information of this press release derived from sections of the PEA that they are responsible for preparing, and are named below:

Mr. Kirk Hanson, P.E. – Technical Director, Mining and Financial Model, site visit – Wood;
Mr. Ben Bissonnette, P.Eng. – Director, Metallurgy and Process Engineering – Wood;
Mr. Paul Baluch, P.Eng., P.E. – Technical Director, Civil Structural Architectural – Wood;
Mr. Mark B. Mathisen, C.P.G. – Mineral Resource Estimate, site visit – SLR/RPA;
Mr. David Cameron, P.E. – Environmental, Reclamation & Closure Plan, site visit – KC Harvey

Other technical information included in this press release has been reviewed and approved by Mr. Steven T. Priesmeyer, C.P.G., a QP and Vice President Exploration for the Company, and Mr. Rodney A. Cooper, P.Eng., a QP and a consultant to the Company. Both have conducted site visits.

Further details on the PEA and the complete PEA study document can be found on the Company’s website at www.revival-gold.com or on sedar.com within 45 days of this news release.

About Revival Gold Inc.

Revival Gold Inc. is a growth-focused gold exploration and development company. The Company has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing Beartrack Gold Project located in Lemhi County, Idaho. Revival Gold also owns rights to a 100% interest in the neighboring Arnett Gold Project.

Beartrack-Arnett is the largest past-producing gold mine in Idaho and hosts the second largest known deposit of gold in the state. A Preliminary Economic Assessment is underway on the potential re-start of a phase one open-pit heap leach operation and exploration continues focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled “Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21st, 2020.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper, P.Eng., a consultant to Revival Gold Inc., Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, , failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, 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, 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.

Revival Gold Releases Additional Drill Results and Provides Exploration Update

kai erfle on November 12, 2020

Toronto, ON – November 12^th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces results from an additional five drill holes along with partial results from a sixth drill hole from the Company’s 2020 drilling program on the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.

Five of the six holes released today are infill core holes drilled in the Haidee target area at Beartrack-Arnett. The holes were drilled to confirm projections of resource blocks from the 2020 Mineral Resource estimate (see Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21^st, 2020) and to upgrade resources from the Inferred category to the Indicated category. All five holes intersected near-surface leachable mineralization and mineralized intervals generally align with projections of the block model from adjacent drill holes or cross-sections.

Highlights

0.93 g/t gold over 28.3 meters¹ in AC20-48D
0.55 g/t gold over 34.5 meters¹ and 0.50 g/t gold over 34.4 meters and 0.41 g.t gold over 34.4 meters in AC20-050D
0.80 g/t gold over 15.2 meters¹ in AC20-051D
0.41 g/t gold over 38.1 meters¹ in AC20-053D
¹ Drilled width; true width estimated to be approximately equivalent to drilled width.

Partial results received for a sixth core hole, BT20-226D, drilled in the under-explored area between the North and South Pit areas at Beartrack-Arnett, indicate that the hole intersected weak gold mineralization in the Panther Creek Shear Zone (“PCSZ”) with the best interval being 0.36 g/t gold over a drilled width of 6.1 meters at approximately 370 meters down hole. Complete results are pending.

“The Beartrack-Arnett resource model is standing up to infill drilling in the Haidee area and we are encouraged to see a continuation of gold mineralization in the PCSZ between the North and South pits”, said Hugh Agro, President and CEO. “This season’s drill program includes both expansion and infill drilling as we seek to grow the resource and prepare to advance Beartrack-Arnett from a preliminary economic assessment (expected later this month) to a pre-feasibility study (targeted to commence next year)”.

Detailed Drill Results

Detailed results for the Haidee target drill holes released today are presented in the table below:

Hole Number	Area	Azimuth (deg.)	Dip (deg.)	From (m)	To (m)	Drilled Width¹ (m)	Fire Assay Gold Grade Uncapped (g/t)	Fire Assay Gold Grade Capped² (g/t)
AC20-047D³	Haidee	63.4	-60.7	8.3	12.8	4.5	0.29
				90.5	97.2	6.7	0.39
				144.2	149.7	5.5	1.18
Incl.				148.4	149.7	1.2	2.88
AC20-048D⁴	Haidee	67.4	-61.7	86.6	114.9	28.3	0.93	0.73
Incl.				107.3	110.9	3.6	5.34	3.78
Incl.				107.3	108.2	0.9	14.15	8.00
				152.4	162.8	10.4	0.30
AC20-050D⁵	Haidee	67.9	-61.1	9.8	44.3	34.5	0.55	0.50
Incl.				9.8	10.2	0.4	12.40	8.00
				24.4	28.0	3.7	1.95
Incl.				26.5	28.0	1.4	3.48
				62.2	96.6	34.4	0.50	0.47
Incl.				65.1	65.4	0.3	11.05	8.00
				107.3	141.7	34.4	0.41
Incl.				130.5	137.2	6.7	1.12
Incl.				132.3	133.7	1.4	3.84
				152.6	160.9	8.4	0.89
AC20-051D	Haidee	63.7	-59.5	9.8	25.0	15.2	0.80
Incl.				17.2	23.5	6.2	1.48
				40.3	47.5	7.3	0.19
				95.9	108.4	12.6	0.36
AC20-053D⁶	Haidee	52.1	-44.3	32.2	34.9	2.7	0.50
				46.3	84.4	38.1	0.41
Incl.				72.2	84.4	12.2	0.86
Incl.				76.2	77.6	1.4	3.47

¹ True width estimated to be approximately equivalent to drilled width. Numbers may not add up due to rounding.
² Grade at Arnett capped at 8.0 g/t Au using the methodology described in the Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21^st, 2020.
³ Core recovery for the intervals 92.4 meters to 93.9 meters and 148.4 meters to 149.7 meters was 48% and 30% respectively.
⁴ Core recovery for the interval 88.1 meters to 88.4 meters was 33%.
⁵ Core recovery for intervals with recovery below 50% was as follows: 8.1 meters to 8.4 meters – 50%; 8.4 meters to 9.0 meters – 25%; 10.4 meters to 10.5 meters – 40%; 78.2 meters to 79.9 meters – 13%; 79.9 meters to 80.2 meters – 50%, and; 121.0 meters to 121.3 meters – 40%. The interval from 78.2 m to 79.9 meters was included at 0 g/t Au.
⁶ Average core recovery for the interval was 69%. Recovery for individual intervals was as follows: 46.3 meters to 47.9 meters – 46%; 48.6 meters to 49.4 meters – 24%; 54.0 meters to 55.5 meters – 28%; 55.5 meters to 56.1 meters – 0%; 79.1 meters to 80.6 meters – 10%; 80.6 meters to 81.2 meters – 36%, and; 82.4 meters to 82.9 meters. Due to little or no recovery, the intervals from 55.5 meters to 56.1 meters and 79.2 meters to 80.6 meters were included at 0 g/t Au.

Figure 1 below is a plan view of the Arnett Haidee target area describing the collar locations for all 30 drill holes completed in this year’s drilling program (including those for which results have been released to-date).

Figure 1: Haidee Target Area 2020 Drilling Program

Partial results are being released for the first hole completed between the North and South pits at Beartrack. The area represents a gap of approximately 370 meters between the block model for the North Pit/Ward’s Gulch area to the north and the South Pit area to the south. This segment of the PCSZ, the primary control on mineralization in this area, has only been explored by very shallow historical drilling which did not adequately test the PCSZ.

Drill hole BT20-226D intersected the PCSZ, encountering both oxidized and unoxidized sulfides in, and adjacent to, the structure. Samples from a selected interval of 34.9 meters, from 366.5 meters to 401.4 meters down hole, were submitted for analysis. Every sample from that interval contains gold indicating that the structure is weakly mineralized, with the best interval being 6.1 meters drilled width averaging 0.36 g/t gold between 367.9 meters and 374.0 meters down hole.

Three additional holes have been completed in the area and a fourth is underway. When completed, the five holes in this area will cover a strike length of approximately 400 meters. Each of the completed holes has intersected the PCSZ with varying amounts of oxidized and unoxidized sulfides in each hole.

Drill Program Status

A total of 30 exploration and infill drill holes for approximately 4,900 meters have been completed this season on the Haidee target. There are currently three rigs drilling on Beartrack, where five holes have been completed to date for approximately 1,650 meters. Four holes remain to be completed on Beartrack for an estimated 1,800 meters. One rig is completing the last of five holes in the area between the North and South pits and two rigs are currently drilling in the Rabbit target area located approximately three kilometers south of the current resource at Beartrack.

Qualified Person

About Revival Gold Inc.

Revival Gold Inc. is a growth-focused gold exploration and development company. The Company has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing Beartrack Gold Project located in Lemhi County, Idaho. Revival Gold also owns rights to a 100% interest in the neighboring Arnett Gold Project.

For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, please see the Company’s NI 43-101 compliant technical report titled “Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21^st, 2020.

For further information, please contact:

Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com

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. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. a Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 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 intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, 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, 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.

TSX.V: RVG

TSX.V: RVG

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