Mr. James Hesketh reports

VIVA GOLD COMMENCES RC DRILLING; PROVIDES UPDATE ON TONOPAH GOLD PROJECT, NEVADA

Viva Gold Corp. has commenced a reverse circulation (RC) drill program at its Tonopah gold project located near Tonopah, Nev. Up to 3,000 metres of RC drill holes are planned in this program.

This drill program has three primary goals:

• Continue to test and expand gold mineralization along open extensions on the major east-west trend of the main deposit;
• Increase the width of gold mineralization in the principal mineral zone by focusing on undrilled north and south extents of known high-angle mineralized and brecciated fault splays that cut across the major trend of mineralization; a good example of this targeting was discussed and shown in a cross-section in Viva's drill hole results release dated Aug. 22, 2022;
• Infill drilling in areas of known inferred mineralization to upgrade that mineralization to measured and indicated status; this drilling is also expected to add inferred resources.

This RC drill program is expected to be completed prior to year-end.

Update on Tonopah project work

The company is preparing to complete an updated resource estimate and preliminary economic assessment (PEA) on receipt of final results from the RC drill program prior to moving the project into feasibility study work. Viva's currently published PEA produced very positive results using a gold price of $1,400 and approximately 50 per cent of currently declared gold resource.

The RC drill rig will also be utilized to construct a test well from which a hydraulic pump test will be conducted to capture data required for baseline environmental and project feasibility study. The company has received all required permits for this work from the Nevada Division of Water Resources (NWDR), the Nevada Division of Environmental Protection Bureau of Mining Regulation and Reclamation (NDEP BMRR) and the U.S. Department of the Interior Bureau of Land Management (BLM).

A report titled "2022 Baseline Biological Survey Report," dated September, 2022, by EM Strategies, a WestLand Resources Inc. company, of Reno, Nev., has been completed and submitted to the BLM. This work details wildlife and vegetation studies on the property. The Tonopah property is not in the habitat ranges for sage grouse or desert tortoise.

A detailed survey of the property was conducted by aerial drone in July and August to produce detailed topographic mapping for use in both permitting and engineering studies.

The company has acquired a 40-acre parcel of private surface land that overlies unpatented lode mineral claims controlled by the company in the southern portion of the Tonopah project. This purchase provides the company with a foothold of private property within the project area that can be utilized for future process and support facility locations. The property includes a four-bay small-vehicle garage, a workshop, a double-wide trailer, a septic system, a domestic water well, an electrical grid connection and phone lines.

James Hesketh, president and chief executive officer, commented: "We continue to check the boxes necessary to bring this advanced property through feasibility towards a future production decision and remain confident that this is a quality gold project in the best jurisdiction in the United States. We look forward to presenting the results of this drilling program and other development activities to our shareholders."

About Viva Gold Corp.

Viva Gold's principal asset is its 100-per-cent ownership in the Tonopah gold project, a large land position on the world-class Walker Lane mineral trend in western Nevada, located an about-30-minute drive southeast of the Kinross Round Mountain gold mine. The project is well advanced with a positive preliminary economic assessment describing a potential open-pit, heap-leach gold recovery operation and a pit-confined measured and indicated gold mineral resources containing 394,000 ounces at 0.78 gram per tonne and 206,000 ounces of inferred resource at 0.87 gram per tonne. The principal mineral trends on the property remain open for extension and the company has a record of steadily increasing gold resources over the last four years. Viva is building market awareness as it advances Tonopah toward feasibility study and permitting and has made a significant commitment to ESG (environmental, social and governance) and derisking the project through open community disclosure and near completion of a number of baseline environmental and technical studies. Viva has a strong capital structure with 91.6 million shares outstanding and a strong management team and board that can claim both gold exploration and production experience.

We seek Safe Harbor.