Mr. Hugh Agro reports

REVIVAL GOLD FILES NI 43-101 PRELIMINARY ECONOMIC ASSESSMENT FOR THE MERCUR GOLD PROJECT

Revival Gold Inc. has filed on SEDAR+ a technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) on the Mercur project titled "Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA." The technical report supports disclosure made by the company in its news release dated March 31, 2025, titled "Revival Gold Delivers Compelling PEA Results and Attractive Potential Re-Development Timeline for the Mercur Gold Project." There are no material differences in the technical report from those results disclosed in the March 31, 2025, news release.

Mercur heap leach PEA highlights:

• Life-of-mine production of 65.6 million tonnes of mineralized material at 0.60 gram per tonne and 75-per-cent average recovery, generating an average of 95,600 ounces of gold per year over a 10-year mine life;
• After-tax net present value at a 5-per-cent discount rate of $295-million and after-tax internal rate of return of 27 per cent at a gold price of $2,175 per ounce increasing to a $752-million NPV at 5 per cent and 57-per-cent IRR at a gold price of $3,000 per ounce;
• After-tax payback period of 3.6 years at $2,175 per ounce of gold decreasing to 1.7 years at $3,000 per ounce of gold;
• Preproduction and working capital of $208-million and additional LOM sustaining capital of $110-million;
• LOM average cash cost of $1,205 per ounce of gold and all-in sustaining cost of $1,363 per ounce of gold;
• PEA mine plan developed from indicated mineral resources of 35.3 million tonnes grading 0.66 g/t gold containing 746,000 ounces of gold and inferred mineral resources of 36.2 Mt grading 0.54 g/t gold containing 626,000 ounces of gold; and
• Expected timeline to complete mine permitting of approximately two years.

The technical report was prepared in accordance with NI 43-101 guidelines by Kappes, Cassiday & Associates of Reno, Nev., and Respec Company LLC of Reno, Nev., with an effective date of March 25, 2025. The technical report can be found on the company's website and on SEDAR+ under the company's issuer profile.

Qualified persons

Technical information included in this news release was reviewed and approved by John Meyer, PEng, a QP, vice-president, engineering and development, for the company, and Dan Pace, RM SME, a QP, chief geologist for the company. Mr. Pace's review focused on the geological representativity of the mineral resource numerical models, including review of the laboratory and field data that support the models, while Mr. Meyer's review focused on mine, process and infrastructure designs, capital and operating costs, and financial modelling.

About Revival Gold Inc.

Revival Gold is one of the largest, pure gold mine developers in the United States. The company is advancing development of 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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