Mr. Andrew Knatchbull of RAB Capital reports

RAB CAPITAL DISCLOSES ADDITIONAL INVESTMENT IN VIVA GOLD CORP.

On Feb. 15, 2024, RAB Capital Jersey Ltd., a private investment holding corporation controlled by Philip Richards, and Mr. Richards purchased 2.5 million units of Viva Gold Corp. pursuant to a private placement, at a price of 12 cents per unit for aggregate consideration of $300,000. Each unit comprises one common share and one non-transferable common share purchase warrant. Each warrant is exercisable to acquire one common share of Viva Gold at an exercise price of 18 cents per share until Dec. 22, 2026.

Mr. Richards now beneficially owns and controls, directly and indirectly, 18.85 million common shares and 10.85 million warrants to purchase common shares (representing approximately 17.62 per cent of the outstanding shares on a non-diluted basis and approximately 24.53 per cent on a partially diluted basis). Prior to this investment acquisition transaction Mr. Richards beneficially owned or controlled 18.35 million common shares and 10.85 million warrants.

The units were acquired by RAB Capital for investment purposes. Mr. Richards and RAB Capital have a long-term view of the investment and may acquire additional securities of Viva Gold, including on the open market or through private acquisitions, or sell securities of Viva Gold, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

RAB Capital is a private company that invests in a wide range of assets based on fundamental analysis. RAB Capital currently targets investments in small companies, both listed and private, and real estate development opportunities.

Viva Gold is a B.C. company having its registered office at 20th floor, 250 Howe St., Vancouver, B.C., Canada, V6C 3R8.

This news release is being issued in accordance with National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. A copy of the early warning report with respect to the foregoing will appear on Viva Gold's profile on SEDAR+ and may also be obtained by contacting its office at 44-0-20-7389-7000 (PO box 12996, Brentwood, United Kingdom, CM14 9TB).