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Revival Gold Inc
Symbol C : RVG
Shares Issued 40,819,235
Close 2018-07-12 C$ 0.88
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Revival Gold files 43-101 technical report on Beartrack

2018-07-12 18:36 ET - News Release

Ms. Andrea Totino reports

REVIVAL GOLD FILES BEARTRACK NI 43-101 TECHNICAL REPORT AND PROVIDES EXPLORATION UPDATE

Revival Gold Inc. has filed on SEDAR a technical report prepared in accordance with National Instrument 43-101 on the Beartrack gold project in Lemhi county, Idaho. The technical report supports the disclosure made by the company in its news release dated May 29, 2018, titled, "Revival Gold Unveils 43-101 Gold Resource at the Beartrack Gold Project in Idaho, USA." There are no material differences from the mineral resources contained in the technical report from those disclosed in the May 29, 2018, news release.

The technical report, titled, "Mineral Resource Estimate, Beartrack Property, Lemhi County, Idaho, United States," is dated July 12, 2018, and has an effective date of April 18, 2018. The technical report was prepared by Resource Modeling Inc. with Graham A. Karklin & Associates Inc. contributing to the mineral processing and metallurgical testing section.

Highlights:

  • At a gold mill cut-off of 0.61 gram per tonne (g/t) and a cyanide soluble gold heap leach cut-off of 0.26 g/t, the Beartrack mineral resource contains:
    • A total indicated mineral resource of 33.4 million tonnes at 1.13 g/t gold containing 1,214,000 ounces of gold;
    • A total inferred mineral resource of 16.9 million tonnes at 1.41 g/t gold containing 765,000 ounces of gold.
  • Beartrack was previously operated as an open-pit, heap leach operation exploiting leachable ore. The mine produced 609,000 ounces of gold before it was shut down in 2000, when the price of gold was below $300 (U.S.) per ounce.
  • Significant infrastructure from the historic operation remains. For this mineral resource, Revival Gold has conceptualized an initial heap leach restart with a mill operation to follow.
  • The mineral resource is defined by 458 core and reverse circulation drill holes totalling approximately 71,000 metres.

Exploration update

Two rigs are currently in operation on a planned 8,000-metre core drill program at Beartrack. The program is expected to be completed midway through the fourth quarter of 2018. Three holes totalling approximately 1,600 metres in the south pit target area and one hole totalling approximately 420 metres in the north pit target area have been completed to date. Assay results from the first three holes at Beartrack are expected to be available in August, 2018.

Revival Gold is also under way with a program of metallurgical testing being conducted by SGS Laboratories Inc. on six composite samples from Beartrack. Initial results are expected by the end of the third quarter of 2018.

At the company's Arnett gold project located next to Beartrack, as previously reported, Revival Gold is in the process of permitting 52 drill pad locations. A total of 2,000 metres of core drilling are planned at Arnett for later this year once Revival Gold's plan of operations (drilling permit) has been approved by the United States Forest Service.

Steven T. Priesmeyer, CPG, vice-president of exploration, Revival Gold, 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 is a growth-focused gold exploration and development company. The company has the right to acquire a 100-per-cent interest in Meridian Beartrack Co., owner of the former-producing Beartrack gold project, located in Lemhi county, Idaho. Revival also owns rights to a 100-per-cent interest in the neighbouring Arnett gold project.

In addition to its interests in Beartrack and Arnett, the company is pursuing other gold exploration and development opportunities and holds a 51-per-cent interest in the Diamond Mountain phosphate project, located in Uintah county, Utah.

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