Mr. Hugh Agro reports

REVIVAL GOLD INTERSECTS 6.8 G/T GOLD OVER 6.0 METERS AND 12.6 G/T GOLD OVER 1.2 METERS WITHIN 2.84 G/T GOLD OVER 50.0 METERS AT BEARTRACK-ARNETT

Revival Gold Inc. has provided additional results from the company's 2021 drilling program and has provided an update on exploration at the Beartrack-Arnett gold project located in Idaho, United States.

Highlights

• BT21-238D intersected 6.79 grams per tonne gold over six metres and 12.6 g/t gold over 1.2 metres within 2.84 g/t gold over 50.0 meters (1.);
• BT21-238D was drilled on the Joss high-grade gold target approximately 180 m north along strike of BT21-237D, which intersected 11.79 g/t gold over 2.5 m and 5.36 g/t gold over 5.8 m within 84.6 m at 2.67 g/t gold (1.) (see Aug. 5, 2021, press release);
• BT21-239DB, collared approximately 400 m south of the southern-most drill hole at Joss, intersected a zone of fracture-controlled sericite alteration. Analysis and an interpretation are pending;
• A total of four core holes for 1,800 m have been completed to-date this year at Joss;
• Drilling at Beartrack-Arnett is now focused with two rigs on the Haidee heap leach gold target where six holes have been completed so far this year for an additional 1,100 m;
• 2,500 m of drilling, including geotechnical, hydrological and approximately 11 exploration core holes, are planned to be completed in the Haidee area this fall.

1. Drilled width; true width is estimated to be between 40 per cent and 70 per cent of drilled width.

Drilling at the high-grade Joss target at Beartrack-Arnett returned intersections of 6.79 g/t gold over six m and 12.6 g/t gold over 1.2 m within 2.84 g/t gold over 50 m in hole BT21-238D. This hole, along with BT21-237D, were exploration core holes targeting an approximate 300-metre gap between previous drill holes and confirmed the continuity of high-grade mineralization in this area. The company also collared drill hole BT21-239DB approximately 400 m south of the southern-most drill hole at Joss. This hole intersected a zone of fracture-controlled sericite alteration, that is similar to alteration associated with mineralization elsewhere at Beartrack. Geochemical analysis and an interpretation of the geology for BT21-239DB are in progress.

"We are thrilled to have intersected another broad interval of gold mineralization with high-grade intercepts in the Joss area. Results from BT21-238D are consistent with the impressive intercepts from BT21-237D located 180 metres to the south. These results are entirely beyond the existing mineral resource at Beartrack-Arnett and provide further evidence of the high-grade and continuity of mineralization at Joss," said Hugh Agro, Revival Gold's president and chief executive officer.

                                DETAILED RESULTS FOR THE DRILL HOLE 

Hole No.      Area  Azimuth (degree) Dip (degree)  From (m)  To (m)  Drilled width (1)(m) Fire assay gold grade (g/t)

BT21-238D     Joss              291          -50     355.9   359.2                   3.4                        2.67  
                                                     392.9   398.1                   5.2                        1.83   
                                                     415.0   465.1                  50.0                        2.84 
Including                                            431.0   465.1                  34.1                        3.65 
Including                                            435.4   441.4                   6.0                        6.79 
Including                                            436.0   437.2                   1.2                       10.80 
Including                                            446.0   447.2                   1.2                       12.60 

Notes
1. True width is estimated to be between 40 per cent and 70 per cent of drilled width. Numbers may not add up due to 
rounding.

Results from BT21-238D are similar to those reported for drill hole BT21-237D, located approximately 180 m to the south along the Panther Creek shear zone (see Aug. 5, 2021, press release). As with BT21-237D, several intervals of higher-grade mineralization are contained within a broader mineralized intersection in BT21-238D.

Drill hole BT21-239DB intersected fracture-controlled sericite alteration in metasediments of the Yellowjacket formation, the host rock for mineralization in the Joss area. Samples from drill hole BT21-239DB have been submitted for geochemical analysis and geological interpretation.

Drilling at Haidee commenced in early August with one rig. Now, with the completion of BT21-239DB at Joss, drilling at Haidee is continuing with two rigs.

The 2021 drilling program at Haidee consists of 2,500 m of engineering and exploration core drilling to augment and expand on the current Haidee mineral resource for the first phase restart of gold production from Beartrack-Arnett. Six core holes have been completed for approximately 1,100 m to-date. Results are pending.

Qualified person

Steven T. Priesmeyer, CPG, vice-president of exploration at 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, U.S.

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 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, U.S. -- NI 43-101 technical report, dated Dec. 17, 2020.

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