Mr. James Hesketh reports

VIVA GOLD ANNOUNCES INITIAL ASSAY RESULTS FROM 2023 RC DRILL PROGRAM, TONOPAH GOLD PROJECT, NEVADA

Viva Gold Corp. has provided initial assay results from the first seven holes of its 2023 reverse circulation (RC) drilling program at its 100-per-cent-owned Tonopah gold project. A total of 14 holes have now been drilled in the program and Viva is waiting on assays for the remainder. Tonopah is located on the prolific Walker Lane mineral trend in western Nevada, about 20 minutes drive from the town of Tonopah.

2023 RC program highlights:

• TG 2307 intercepted two long zones of mineralization, including 11 metres of 0.5 gram per tonne gold commencing at 79 m, and a second zone of 50 m averaging one g/t Au commencing at 93 m, which included three m at 2.8 g/t Au, 4.6 m at 3.2 g/t Au and three m at 3.1 g/t Au. TG2307 was collared as a 47 m stepout to the south of TG2209, which intercepted 86.9 metres at 1.3 g/t Au starting at 87 m depth (see January, 2023, release).
• TG2302 intercepted two long zones of gold mineralization, including 14 m at 0.6 g/t Au commencing at 46 m and a second zone of 34 m averaging 1.4 g/t Au commencing at 72 metres, including 9.1 metres at 3.9 g/t starting at 85 m. TG2302 was drilled from a collar located 40 metres to the south and in a parallel orientation to TG2211 (57.9 m at five g/t Au from 40 m depth), confirming an extensive zone of high-grade mineralization in this area.
• TG2306 was drilled as a vertical hole from the same collar as TG2307 and intercepted two zones of lower-grade mineralization commencing at 35 m depth, totalling 15 metres at 0.5 g/t Au.
• TG2301 tested a zone to the east of TG2211 with limited results, while TG2203, also designed to offset TG2211, was terminated at 53 metres depth due to poor drilling conditions.
• TG2205 tested the southern extension of a north-south splay zone located to the west of the TG2211 zone, intercepting four of zones lower-grade gold mineralization, indicating the potential limit to mineralization on that splay.
• TG2204 tested the southern extent of a poorly developed north-south structural splay zone in the eastern end of the main resource pit area with limited results.

"We are very pleased with the initial results of this program. TG2307 and TG2302 both confirmed the southerly continuation of the two high-grade fault splay zones found in our 2022 drilling program. Additional drilling is scheduled on these trends during the 2023 drilling program. Our 2023 drilling program is focused on upgrading zones of inferred mineralization to measured and indicated; to infill large gaps in drilling within the $1,650 Au resource pit area; as well to determine the true orientation and extent of the shallow, high-grade fault splay zones discovered in our 2022 drilling program," stated James Hesketh, president and chief executive officer.

Qualified person

Mr. Hesketh, MMSA-QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the company; he is an officer and director.

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 about 30 minutes drive southeast of the Kinross Round Mountain gold mine. The project is well advanced with a positive preliminary economic assessment (PEA) 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/tonne and 206,000 ounces of inferred resource at 0.87 gram/tonne. Viva has announced its commenced a second PEA study to include results from approximately 40 additional drill holes completed in 2022 and 2023, the results of additional metallurgical gold recovery studies, and substantial information gained from its ESG (environmental, social, governance) focus of completing and advancing environmental and technical baseline study for the project.

We seek Safe Harbor.