Dr. Brett Davis reports

REVIVAL GOLD REPORTS INITIAL 2023 EXPLORATION RESULTS

Revival Gold Inc. has provided an update on its 2023 exploration campaign at the Beartrack-Arnett gold project located in Lemhi county, Idaho, United States.

Highlights

Revival Gold has completed 15 holes and 3,100 meters of this season's drill program. Assay results have been received for the first two drill holes (AC23-103D and AC23-104D) located in the Roman's Trench target area.

AC23-104D intersected 0.66 g/t gold over 7.0 meters drilled width and 3.1 g/t gold over 0.7 meters drilled width. AC23-103D encountered quartz-iron oxide veinlets, but no significant gold mineralization.

In addition to drilling at Roman's Trench, Revival Gold collected thirteen surface rock samples from a road cut on the same target. Values ranged from below detection limit to 11.7 g/t gold with three samples over 3 g/t gold. A follow-up channel sampling program has been initiated.

Planned drilling has been increased from 3,000 meters to 3,400 meters to add two holes in the untested Midlands target area.

The total program incorporates two core holes at Roman's Trench (completed), two core holes at Ridge, two core holes at Midlands, and 12 core holes up-dip and down dip of the Haidee deposit (see Figure 1 below). Remaining drill results are expected over the course of the next six to eight weeks. Revival has collected 125 soil samples on six geochemical survey lines over the Coiner Fault on a covered target area located south of Joss. Results are pending.

Dr. Brett Davis, a specialist in orogenic gold systems, completed a site evaluation and assessment of geologic structure at Beartrack-Arnett. Davis concluded that the Coiner Fault System, which includes the well-endowed Panther Creek Shear Zone, consists of multiple, anastomosing structures and that each of these structures represents prospective exploration targets. Davis' work supports Revival Gold's orogenic model for gold mineralization at Beartrack-Arnett and resulted in the identification of several new targets for potential high-grade mineralization on the Company's land position.

"Revival Gold's first drill holes on the Roman's Trench target encountered favorable host rocks and ore grade mineralization", said Hugh Agro, President & CEO. "This year's surface sample results from a road cut at Roman's Trench are equally tantalizing and confirm that further work is warranted on this new exploration target for the Company. Exploration continues on an expanded program with one rig currently drilling. Drill results from additional new areas at Ridge and Midlands as well as up and down dip of the Haidee deposit are expected over the next 6-8 weeks", said Agro.

Detailed results for the two drill holes released today are presented in the table below:

Hole Number Area Azimuth (deg.) Dip (deg.) From (m) To (m) Drilled Width1 (m) Fire Assay Gold Grade (g/t) AC23-103D Roman's Trench 279 -55 No Significant Results AC23-104D Roman's Trench 47 -54 77.7 84.7 7.0 0.66 183.4 184.1 0.7 3.06 1 True width is estimated to be 50% to 70% of drilled width. Numbers may not add up due to rounding. Figure 1: 2023 Beartrack-Arnett Drill Program

Qualified Persons

Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., 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, USA.

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 kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.

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