Mr. Hugh Agro reports

REVIVAL GOLD ANNOUNCES DUNDEE CORPORATION EXERCISE OF PARTICIPATION RIGHT, UPSIZE OF FINANCING TO A TOTAL OF $29 MILLION

Revival Gold Inc., further to its news releases dated July 10, 2025, and July 14, 2025, has upsized its previously announced non-brokered private placement of up to $13.68-million by the issuance of up to 28,517,502 common shares of the company at a price of 48 cents per common share. The concurrent offering was upsized to accommodate Dundee Corp., through its wholly owned subsidiary, Dundee Resources Ltd., which informed the company that it intends to exercise its participation right to maintain its equity ownership in the company. All dollar amounts are in Canadian dollars, except as noted.

The terms of the previously announced strategic placement with EMR Capital Management Ltd. remain as announced on July 14, 2025, whereby EMR will purchase 32,069,531 common shares at a price of 48 cents per common share for gross proceeds of $11.3-million (U.S.) ($15.4-million). Assuming the concurrent offering is fully subscribed, the aggregate gross proceeds of the concurrent offering and EMR strategic placement is expected to be approximately $29.08-million.

EMR's and Dundee's pro forma interests in Revival Gold on closing are expected to amount to approximately 11.8 per cent and 5.3 per cent on a non-diluted basis, respectively, assuming the concurrent offering is fully subscribed and there are no other common share issuances.

Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106, Prospectus Exemptions, the common shares offered under the concurrent offering will be offered for sale to purchasers resident in Canada (except Quebec) and are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers' resident in Canada. The common shares sold under the concurrent offering may also be issued to purchasers outside of Canada, including to purchaser's resident in the United States and in certain offshore foreign jurisdictions, pursuant to applicable regulatory requirements and in accordance with OSC Rule 72-503, Distributions Outside Canada. The common shares sold to purchasers in the United States will be made on a private placement basis pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended. Purchasers are advised to consult their own legal advisers in this regard.

The common shares issued pursuant to the EMR strategic placement will be offered pursuant to the accredited investor exemption under NI 45-106 and will be subject to a four-month-and-one-day hold period under applicable Canadian securities laws. The net proceeds from the EMR strategic placement and concurrent offering will be used to advance Revival Gold's continuing exploration and development of its Mercur and Beartrack-Arnett projects, and for general working capital and corporate purposes, as further detailed in the offering document (as defined herein).

There is an amended and restated offering document dated July 15, 2025, related to the concurrent offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The EMR strategic placement and the concurrent offering are subject to customary closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Closing of the EMR strategic placement and the concurrent offering is expected to occur on or about July 29, 2025.

Revival Gold may pay a cash commission to eligible finders who introduce subscribers to the concurrent offering equal to up to 6.0 per cent of the gross proceeds of the concurrent offering. No cash commission is expected to be paid in connection with Dundee's participation under the concurrent offering.

Paradigm Capital Inc. is acting as financial adviser to Revival Gold. Peterson McVicar LLP is acting as legal counsel to Revival Gold. Beacon Securities Ltd. is acting as financial adviser to EMR Capital.

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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