Mr. Hugh Agro reports

REVIVAL GOLD 2024 YEAR IN REVIEW

Revival Gold Inc. has provided a review of the company's key accomplishments over the past year delivering value for its owners and advancing Revival Gold's portfolio of exciting gold development projects located in the Western United States.

Highlights:

• Revival Gold realized its ambition to grow potential heap leach gold production and enhance the company's path to production by acquiring Ensign Minerals Inc., a private company and the owner of the Mercur gold project, an attractive past-producing gold project located in Utah. The acquisition delivered a complementary 6,300-hectare gold project with inferred mineral resources of 89.6 million tonnes at 0.57 gram per tonne containing 1.6 million ounces of gold.
• In connection with the purchase of Mercur, Revival Gold completed a $7.2-million equity financing in May bringing in Sun Valley Gold LLC and Libra Advisors LLC as well-regarded new institutional investors in the company.
• The company immediately commenced metallurgical test work on Mercur and, in September, reported an 84-per-cent average recovery from five column leach composite tests undertaken on representative samples at Mercur. The columns demonstrated rapid leach kinetics with 90 per cent of gold leached reporting to solution after only five days.
• Work continued at Mercur with Kappes Cassiday & Associates and Respec Company LLC having been engaged to complete an updated mineral resource estimate and preliminary economic assessment (PEA) by the end of Q1 2025.
• At the Beartrack-Arnett gold project, located in Idaho, Revival Gold restructured and extended the company's earn-in agreement with Meridian Beartrack Co. (a subsidiary of Pan American Silver Corp.) and the owner of the Beartrack property and related infrastructure. Under the restructuring, the company converted an obligation to pay the greater of $6 (U.S.) per ounce of gold in mineral resource or $15 (U.S.) per ounce of gold in mineral reserve on the third anniversary of the closing of the agreement, into a 0.3-per-cent net smelter return royalty on future production. The restructuring also provides for a three-year extension to the earn-in; thereby deferring the requirement for Revival Gold to arrange site bonding ($10.2-million (U.S.) face value) until October, 2027.
• During the spring and summer of 2024, Revival Gold's exploration team completed an extensive exploration targeting exercise to build on the company's understanding of the mineral potential and drill targets south of the Joss deposit and outboard of the Haidee deposit at Beartrack-Arnett. The program included 90 line kilometres of geophysical surveys, geochemical sampling, field mapping and structural modelling.
• Meanwhile, permitting preparation for the first-phase heap leach opportunity envisioned for Beartrack-Arnett continued with the competition of a draft plan of operations this month. An updated permitting schedule and budget will follow next quarter.
• During the year, the former president of Eldorado Gold, Norm Pitcher, joined the company's board of directors and Revival Gold's exploration leadership was transitioned to the company's accomplished chief geologist, Dan Pace.
• Revival Gold continued to maintain an exemplary safety record with zero lost-time incidents among company employees and contractors.

"Revival Gold transformed its business in 2024 with the addition of the Mercur gold project, the restructuring of its underlying agreement to acquire the Beartrack property and key personnel moves to build on the strength of our team. Looking ahead, Revival Gold's portfolio (encompassing two multimillion-ounce gold systems, some 30,000 acres of highly prospective claims and credible development plans for future gold production in the U.S.) offers investors exceptional value and exposure to gold at a time when quality new gold projects are becoming increasingly more scarce," said Hugh Agro, president and chief executive officer. "Our team is looking forward to 2025 and we are excited about Revival Gold's potential," added Mr. Agro.

Qualified persons

John P.W. Meyer, PEng, vice-president, engineering and development, Steven T. Priesmeyer, CPG, vice-president, exploration, and Dan Pace, a registered member of SME (Society for Mining, Metallurgy & Exploration) and 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 one of the largest, pure-gold mine developers in the 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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