Mr. Hugh Agro reports

REVIVAL GOLD PROVIDES 2026 OUTLOOK AND SETS OBJECTIVE TO BE NEXT GOLD MINE DEVELOPED IN THE US GREAT BASIN

Revival Gold Inc. is providing an update on our activities and plans for 2026.

Outlook highlights

Mercur gold project in Utah, advancing to potential production in 2029:

• Permitting work under way with expected two-year timeline;

• Anticipate start of project financing discussions in 2027;

• Construction decision in 2028.

Mercur 2026 work programs focused on:

• Completing planned column leach metallurgical testing program;

• 12,000 metres of drilling to upgrade and potentially expand, resources;

• An additional 4,000 metres of drilling to support engineering and design;

• Completing baseline surveys and related studies to support permitting;

• Substantially completing a preliminary feasibility study (PFS) with targeted release in the first quarter of 2027.

Continuing exploration drilling at the Beartrack-Arnett gold project in Idaho targeting high-grade underground potential with 3,000 metres of core drilling:

• Two core rigs are currently turning on the project with assay results pending.

"Twenty twenty-six should be a transformative year for Revival Gold as we advance the Mercur gold project to production with targeted start-up in 2029. Mercur benefits from being a prior successful Barrick operation with intact infrastructure, on private land and in the supportive state of Utah. These characteristics help reduce risk and, together with recent progress by our technical team, give us confidence in our ability to move Mercur rapidly back into production," said Hugh Agro, president and chief executive officer.

Mr. Agro continued: "Activity at Mercur is accelerating with engineering, baseline surveys and robust metallurgy works under way. We believe, the market has yet to recognize the Mercur opportunity in Revival Gold's valuation and that this will change in 2026. We look forward to a rewarding year for the company's stakeholders."

2026 Mercur details

Revival Gold is ramping up the company's project team and work programs at Mercur to complete baseline studies and substantially advance the project in 2026.

Metallurgical program

A robust metallurgical program has commenced under the direction of Kappes Cassiday & Associates and includes 20 column leach metallurgical tests from the 2025 drill core. The objective of the program is to test a spatially, geologically and metallurgically representative array of samples to de-risk the project metallurgy. Results are expected in the second quarter of 2026.

Drill program

Twelve thousand metres of RC and core drilling are planned to convert resources to higher confidence levels (measured and indicated) for PFS mine planning and for exploration purposes. An additional 4,000 metres of reverse-circulation, core and auger drilling for geotechnical and hydrological data will be completed to support PFS engineering.

Environmental baseline and permitting

The Utah Department of Oil, Gas and Mining (DOGM) is the lead mine permitting agency in Utah. DOGM requires that all environmental baseline studies be completed prior to starting the formal permitting process. The baseline studies include biological studies (wildlife, vegetation, soils, aquatic life), hydrogeology, cultural resources, air, geochemistry and noise, amongst others. Stantec Consulting Services Inc. and Kautz Environmental Consultants Inc. have been awarded support contracts with more scope to be tendered.

PFS

In parallel to the environmental baseline and permitting preparation activities, Revival Gold will be advancing a PFS during 2026 with the goal of completing the study in Q1 2027. PFS engineering work includes:

• Updating the mineral resource estimate;

• Revising the mine plan;

• Conducting trade-off studies;

• Engineering and cost estimation;

• Completing an NI 43-101 technical report.

Revival Gold's objective is to advance Mercur, targeting a construction decision in 2028 after two years of permitting and technical work, with gold production targeted for 2029.

Twenty twenty-six Beartrack-Arnett details

The 2026 Beartrack-Arnett exploration program will focus on the Joss target area to demonstrate continuity and show opportunities for expansion of gold mineralization along strike and at depth. The program is a continuation of the drilling program launched in 2025 with 3,000 metres of core drilling planned at Beartrack-Arnett in 2026 to expand the underground high grade at Joss. Two rigs are currently turning from contractors Major Drilling and National.

The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as summarized in the Preliminary Economic Assessment (PEA). (See "Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA," prepared by Kappes, Cassidy & Associates and RESPEC Company LLC, dated May 2, 2025, and news release dated Dec. 22, 2025.

Qualified persons

Technical information included in this news release was reviewed and approved by John Meyer, PEng, a QP and vice-president, engineering and development for the company and Mr. Dan Pace, RM SME, a QP and chief geologist for the company.

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 exploration at the Beartrack-Arnett gold project located in Idaho.

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