Mr. Hugh Agro reports

REVIVAL GOLD MARKS PROGRESS WITH TECHNICAL PROGRAMS

Revival Gold Inc. has made progress with technical programs on the company's gold development projects located in the Western United States.

Highlights:

• Revival Gold contracted Respec Company LLC to update the mineral resource estimate in support of the planned preliminary economic assessment (PEA) on the Mercur gold project in Utah, United States. An updated drill hole database has been assembled and Respec has initiated its quality assurance/quality control review. Grade domain and metallurgical modelling are also under way.
• Hazen Research Inc. completed comminution testing on two Mercur composite samples. All PEA-level metallurgical test work for Mercur is now complete.
• KCA is under way with preliminary engineering trade-off studies. Results indicate that project infrastructure will be optimally located in the Main Mercur area (rather than conveyed to West Mercur or elsewhere for processing) with a satellite heap leach facility at South Mercur for any material to be mined from that area.
• Revival Gold's exploration team has wrapped up its summer field program at the company's Beartrack-Arnett gold project in Idaho, United States. Results from this year's ground magnetics, mapping and surface sampling in the Ridge Target area have extended the target strike approximately half a kilometre to the northeast of drill hole AC23-109D (intersected 22.6 metres of 0.37 gram per tonne gold in brecciated quartzite; see Revival Gold's press release dated Dec. 19, 2023, for further details). The structure runs parallel and exhibits the same gold-arsenic geochemical signature as observed in the main host shear zone at Beartrack-Arnett.
• With the completion of the summer exploration program at Beartrack-Arnett, work has been initiated on data compilation, field reconnaissance and selective geochemical sampling at Mercur. Efforts are focused on the stratigraphic section at Mercur to evaluate the potential for known mineralized beds and other previously underexplored units to host additional gold mineralization.
• Meanwhile, activities have commenced on a draft plan of operations for Beartrack-Arnett. Completion is expected by year-end.

"With Mercur metallurgical testing now complete, the detailed work of assembling a robust geological database and model well under way, and engineering trade-off studies advancing, Revival Gold remains on track for the completion of the Mercur PEA, and the delivery of a significant potential value catalyst, by the end of Q1 2025," said Hugh Agro, president and chief executive officer. "Engineering activities over the coming months will be focused on optimizing the head grade and scale of the potential Mercur heap leach operation and investigating the potential to introduce a CIL [carbon-in-leach] mill flow sheet into development plans. We look forward to reporting on these activities as well as Revival Gold's ongoing exploration and permitting initiatives at both Mercur and Beartrack-Arnett in the months ahead," added Mr. Agro.

Qualified persons

John P.W. Meyer, vice-president, engineering and development, PEng, Steven T. Priesmeyer, CPG, vice-president, exploration, and Dan Pace, registered member of SME (Society for Mining, Metallurgy & Exploration), chief geologist of Revival Gold, are the company'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 pure-gold mine developer operating in the Western United States. The company is advancing engineering and economic studies on the Mercur gold project in Utah and mine permitting preparations and continuing exploration at the Beartrack-Arnett gold project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol RVG and trades on the OTCQX market under the ticker symbol RVLGF. The company is headquartered in Toronto, Canada, with its exploration and development office located in Salmon, Idaho.

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