Mr. Scott Trebilcock reports

REVIVAL GOLD EXPANDS DRILLING PROGRAM AFTER INTERSECTING 6.4 G/T GOLD OVER 19 METERS AT BEARTRACK-ARNETT

Revival Gold Inc. has provided initial drill results from the Joss area at the company's Beartrack-Arnett project, located in Idaho.

Highlights:

• Hole BT26-252D intercepted high-grades in a 100-metre (m) stepout to the south with:
  • 5.4 grams per tonne (g/t) gold over 32.6 m drilled width at 568 m downhole, including:
    • 6.4 g/t gold over 19.1 m drilled width at 573 m downhole;
    • 8.0 g/t gold over 4.3 m drilled width at 596 m downhole.
• Two other completed holes, BT26-251DA and BT26-253D, are also confirmed to have intercepted the target shear zone. Assay results are pending.
• Drilling targeted the expansion of the high-grade underground mineral resources in the Joss area, last drilled in 2022.
• On these results, Revival Gold has extended the drilling program to 4,900 m of planned core drilling with two rigs turning. Additional extensions are being considered.

"The underground target at Beartrack-Arnett is shaping up to be one of the most promising gold exploration opportunities in the United States. Already a top-10 new discovery this decade (1), stepout holes in the current drilling program at Joss have extended the mineralized zone and highlight the impressive scale of this deposit over 1.2 kilometres of known strike and 700 metres of vertical elevation to date," said Hugh Agro, president and chief executive officer.

Mr. Agro continued: "The near vertical dip, together with true widths of 12 to 16 metres in the mineralized zone in BT26-252D, present the possibility for lower-cost underground mining techniques. Adding an underground study to the Beartrack-Arnett open-pit heap leach restart project would create a third phase of development for Revival Gold and move the company closer to our target of 300,000 gold ounces per year of gold production from our current assets."

(1) S&P Capital IQ Pro; discovery is defined as an increase of resources and reserves (gold only), starting from no resource in 2010 to today; developed by Fuse Advisors Inc.

About Joss target area

The Beartrack-Arnett gold project is a structurally controlled orogenic gold deposit running north-south on the Panther Creek shear zone (PCSZ). In the Joss area, the project hosts an underground inferred mineral resource of 6,745,000 tonnes grading 4.05 grams gold per tonne for 877,000 ounces of gold that is not included in the 2023 first phase open-pit, heap leach PFS economics (see "Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi County, Idaho, USA," prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP, dated Aug. 2, 2023, for further details).

Detailed results

BT26-252D was the first hole to reach the PCSZ in this year's drill program. BT26-252D shows the robust continuity of the system having intercepted mineralization 100 m south of previously released BT22-241D. The hole was only sampled and assayed within the 46.8 m zone on the strongest alteration spanning the shear zone. Additional zones of alteration and veining exist above the intercept, which have not been assayed and are not included in this news release.

Two additional completed holes, BT26-251DA and BT26-253D, have also intercepted the PCSZ with assays pending. BT26-251DA intercepted the shear zone approximately 85 m below historical BT22-241D. BT26-253D intercepted the shear zone approximately 80 m south of BT25-252D, the hole released today. Intercepting the shear zone does not necessarily indicate the presence or abundance of gold mineralization within the structure.

QA/QC (quality assurance/quality control) program

QA/QC consists of the regular insertion of certified reference materials, duplicate samples and blanks into the sample stream. Sample results are analyzed immediately upon receipt and all discrepancies are investigated. Samples are submitted to the ALS Geochemistry sample preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry laboratory in Vancouver, B.C. ALS Minerals is an ISO/IEC 17025:2017 accredited lab.

Gold assays are determined on half sawn PQ and HQ core by fire assay and atomic absorption spectroscopy (AAS) on a 30-gram nominal sample weight (Au-AA23).

Qualified persons (QPs)

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 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 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 under the ticker symbol RVLGF. The company is headquartered in Toronto, Canada, with its U.S. exploration and development office located in Salmon, Idaho.

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