Mr. Hugh Agro reports

REVIVAL GOLD PROVIDES EXPLORATION UPDATE AND RESULTS OF AI ANALYSIS AT BEARTRACK-ARNETT

Revival Gold Inc. has provided an update on exploration at the company's past-producing Beartrack-Arnett gold project, located in Idaho, United States.

• Approximately 700 metres in two core holes have been drilled to date of the planned 2,500-metre five-hole program this summer in the high-grade gold Joss target area. Initial assay results are expected by mid-August;
• A further 2,500 metres of drilling, including geotechnical, hydrological and nine to 10 exploration core holes, are planned for this summer in the Haidee heap leach gold target area;
• A second rig is scheduled to arrive on site in mid-July to accelerate the pace of drilling;
• SGS Lakefield has commenced heap leach column test work on approximately three tonnes of sample material under the direction of the company's engineering consultants at Wood;
• Wood has completed an initial review of Revival Gold's drill hole data and geological model in preparation for a resource update targeted for completion in Q1 2022.

Revival Gold has completed a holistic program of three-dimensional computer modeling and artificial intelligence analysis conducted by Mira Geoscience Ltd. The initiative integrated all drilling data, including historical blast hole drilling from the prior operating mine at Beartrack, geological, geochemical and geophysical data which resulted in the identification of several new exploration targets within the Beartrack-Arnett project area. These targets include the low-angle intersections of steeply dipping secondary faults with the main Panther Creek shear zone at Beartrack and a cluster of targets that are encompassed within a four-kilometre-diameter area around the Haidee deposit at Arnett.

"Exciting developments in AI technology and geoscience in recent years have helped Revival Gold surface previously unrecognized or underappreciated exploration targets at Beartrack-Arnett. First and foremost, we now have a better handle on the mineralized trend in the enticing Ward's Gulch through Joss area. Secondly, we have been able to establish a much more significant exploration target around Haidee extending now for approximately four kilometres around the current deposit in that location," said Hugh Agro, Revival Gold, president and chief executive officer. "Meanwhile, Revival Gold's engineering and exploration drilling programs are proceeding largely on plan with initial drill results from the high-grade gold Joss target area expected by mid-August," Mr. Agro added.

Qualified person

Steven T. Priesmeyer, CPG, vice-president of exploration, Revival Gold, and Rodney A. Cooper, PEng, a qualified person and senior technical adviser to the company, are Revival Gold'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 is a growth-focused gold exploration and development company. The company is advancing the Beartrack-Arnett gold project located in Idaho, United States.

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 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 grams per tonne 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.

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