Mr. Hugh Agro reports

REVIVAL GOLD RESUMES DRILLING THE HIGH-GRADE JOSS TARGET

Revival Gold Inc. has resumed drilling on the high-grade Joss target at the company's Beartrack-Arnett gold project located in Idaho, United States. Approximately 2,500 metres of core drilling in five holes are planned this summer at Joss. Drilling will focus on continuing to define and expand on the one-kilometre trend of high-grade gold mineralization with underground mining potential. Summary high-grade intercepts from the 14 core holes previously drilled on the Joss trend range from four to nine grams per tonne gold and are estimated to extend between one and five metres in true width (see Revival gold press release dated March 1, 2021).

High-grade, potentially underground-minable, material at Beartrack-Arnett offers the possibility to supplement open-pit mill material to produce a similar, or greater, quantity of gold at a lower rate of mill throughput. Joss has the added advantage of being centrally located close to existing open-pit resources and infrastructure at the project.

The existing Beartrack-Arnett mineral resource is primarily in an open-pit setting and includes an indicated open-pit mill resource of 22.2 million tonnes grading 1.52 g/t gold for 1.09 million ounces gold. Open-pit mill material was assessed by the company's resource consultants, Roscoe Postle Associates Inc., at an assumed milling rate of 20,000 tonnes per day and a mill recovery of 94 per cent (see "Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA" National Instrument 43-101 technical report, dated Dec. 17, 2020).

"Joss represents a catalytic opportunity to potentially boost gold production and/or reduce the assumed mill throughput and the associated capital cost of constructing a future milling operation at Beartrack-Arnett. Based on current, widely spaced drilling, our team is excited about the high-grade, continuity and the overall dimensions of the Joss target. The target extends for one kilometre of strike with potentially underground minable widths of one and five metres, has been drill tested to a depth of 500 metres and remains open on strike and at depth," said Hugh Agro, Revival Gold president and chief executive officer.

Drilling by contractor Major Drilling America Inc. is under way and will continue in the Joss area until early August.

Revival Gold will mobilize a second drill rig in June to resume drilling at the higher elevation Haidee open-pit oxide gold target, where drilling will consist of an additional 2,500 metres of core drilling to upgrade and expand on the current mineral resource. Revival Gold will also complete geotechnical and hydrological engineering holes this season in preparation for the completion of a prefeasibility study in 2022 on the first phase restart of Beartrack-Arnett heap leach operations.

Qualified person

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 is advancing the Beartrack-Arnett gold project located in Idaho.

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 (all-in sustaining cost) 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 kilometres 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 Dec. 17, 2020.

Revival Gold has approximately 71.2 million shares outstanding and had an estimated cash balance of $7.4-million (Canadian) on March 31, 2021. Additional disclosure including the company's financial statements, technical reports, news releases and other information can be obtained at the company's website or on SEDAR.

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