Mr. Hugh Agro reports

REVIVAL GOLD ADVANCES PROCESSING ALTERNATIVES FOR HIGH-GRADE MILL MATERIAL AT BEARTRACK-ARNETT

Reviva l Gold Inc. has released favourable results from a third stage of metallurgical testing on mill (or sulphide) material from the Beartrack-Arnett gold project located in Lemhi county, Idaho. The objective of this testing program was to evaluate the flotation performance of the high-grade component of sulphide material at Beartrack-Arnett and assess its potential to yield a salable concentrate.

Highlights

• The composite sample was assembled from 21 individual samples of core to mimic the tenor of high-grade mill material at Beartrack-Arnett.
• Results demonstrate gold recoveries of 93 per cent to concentrate from a composite sample grading 4.6 grams per tonne gold.
• A concentrate grade of 50 g/t gold was achieved with a relatively coarse particle grind size (P 80) of 150 mum and a resulting mass pull of just 8.9 per cent.
• The corresponding sulphide sulphur grade of the concentrate was 23 per cent with a sulphide sulphur recovery of 98 per cent.

"Revival Gold remains focused on continuing to expand and prepare the open pit heap leach restart phase at Beartrack-Arnett," said Hugh Agro, president and chief executive officer. "Meanwhile, work continues to advance and derisk a potential mill phase for the project. Today's announced test results support a potential mill development concept that would involve the production and sale of concentrate rather than the construction of a complete onsite gold production facility for the project. This approach could greatly simplify and reduce the potential capital cost of developing a second phase mill operation at Beartrack-Arnett," Mr. Agro added.

This year's metallurgical testing program on Beartrack-Arnett mill material was undertaken by Kappes Cassiday Associates Inc. (KCA) and followed up on prior metallurgical test programs completed on Beartrack-Arnett mill material in 2018 and 2019 (see Revival Gold news releases dated Oct. 15, 2018, and Dec. 5, 2019, and current mill material base case processing assumptions detailed in Revival Gold's National Instrument 43-101 technical report on the Beartrack-Arnett heap leach project dated Aug. 2, 2023). The program involved the following steps:

• Analysis of lithology, grade, depth and oxidation level to guide composite sample selection.
• Preparation of a composite sample from 21 samples of coarse reject material from Joss area core drilled during 2022.
• Batch scale variability testing to establish the preferred grind, rougher kinetic and cleaner flotation testing conditions, and reagent dosages.
• Locked cycle flotation testing with seven cycles of cleaner tailings recycling.

Results are considered preliminary. Further metallurgical testing on high-grade mill material across various areas of the known deposit has been recommended by KCA to help determine potential key operating criteria and economics for a concentrate shipping alternative for Beartrack-Arnett mill material.

Qualified persons

John P.W. Meyer, PEng, vice-president of engineering and development, 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, United States.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. The project benefits from extensive existing infrastructure and is the subject of a recent preliminary feasibility study for the potential restart of open-pit heap-leach gold production operations.

Since reassembling the Beartrack-Arnett land position in 2017, Revival Gold has made one of the largest new discoveries of gold in the United States in the past decade. 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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