Revival Gold acquired the Mercur Gold Project in 2024 with the purchase of a private company known as Ensign Minerals (“Ensign”). The project consists of approximately 6,628 net hectares of mineral interests in Utah’s Mercur District, where the known mineralization occurs on primarily privately held patented claims. The property holdings include Mercur, West Mercur, South Mercur and North Mercur. The Mercur Project was created by way of five key agreements with mining companies, four leases with private parties and the staking of additional mining claims.

Revival Gold recently completed a Preliminary Economic Assessment (“PEA”) for an open-pit heap leach operation at Mercur. The project is expected to produce typically 95,000 to 105,000 ounces of gold per year over a 10-year mine life and has an after-tax NPV_5% of $295 million and a 27% IRR at $2,175/oz gold. Mine permitting is expected to be completed in about two years.

This Carlin-type gold deposit is a successful past producing gold mine with excellent infrastructure including access by paved road from Salt Lake City (about 70 minutes drive), grid power, and office facilities on site. The deposit is open at depth and has been under-explored with less than 0.5% of drilling to-date below 400 meters depth.

See Preliminary Economic Assessment National Instrument 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA prepared by Kappes, Cassiday & Associates and RESPEC Company LLC dated May 2nd, 2025, for further details.