Mr. James Hesketh reports

INITIAL ASSAY RESULTS FROM VIVA GOLD'S TONOPAH GOLD PROJECT, NEVADA

Viva Gold Corp. has provided initial assay results for three holes from the recently completed 10-hole, 1,515-metre reverse circulation (RC) drilling program at its 100-per-cent-owned Tonopah gold project. Tonopah is located on the prolific Walker Lane mineral trend in western Nevada, about a 20-minute drive from the town of Tonopah.

These first three RC holes were drilled to offset widely spaced gold intercepts from the company's 2022 and 2023 drill programs on the north side of the 2022 preliminary economic assessment (PEA) main pit area, an area that had previously been considered waste in the resource model. All gold (Au) and silver (Ag) intercepts in these first three holes were in tertiary volcanics.

Highlights:

• TG2401 intercepted 50.5 metres starting at 40 m averaging 0.68 gram per tonne (g/t) Au and three g/t Ag, including two higher-grade zones of 10.7 m at 1.54 g/t Au starting at 40 m and 4.6 m at 1.47 g/t Au starting at 69 m. TG2401 was drilled due west from the collar of TG2212 (21.3 m at 0.5 g/t Au, including 7.6 m at 1.3 g/t Au) toward hole TG2210 (38 m averaging 0.8 g/t Au starting at 18 m depth).
• TG2403 intercepted 18.3 m at 0.6 g/t Au and 5.8 g/t Ag commencing at 64 m, including three m at 1.37 g/t Au and 4.1 g/t Ag. TG2402 intercepted 4.6 m at 0.5 g/t Au and 1.5 g/t Ag starting at 52 m. TG2402 and TG2403 were each drilled in a western direction 40 m to the north and south, respectively, of TG2310 (four zones with a cumulative total of 48 m at 1.9 g/t Au, including 23 m at 3.5 g/t Au starting at 72 m).

"We are very pleased with these initial results. These first three holes, when combined with prior wide-spaced drilling, potentially create strong grade continuity on the northeastern side of the resource pit shell defined in our 2022 PEA. This area had only been sparsely drilled in the past and was previously described as containing primarily waste material in the model. Additional infill and stepout drilling in this area of the project is clearly justified," stated James Hesketh, president and chief executive officer.

Qualified person

Mr. Hesketh, MMSA QP (qualified person), 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.

The Tonopah project sits in the middle of gold mining country and controls a major land position on the prolific Walker Lane trend in Western Nevada. Viva has consistently grown its resources since 2017, and has commenced a new, fully financed drill program to further define and grow the current resource base. The company plans to update the resource model and initiate prefeasibility study in 2024, both of which are major catalysts and value-creation events for shareholders.

Viva Gold is led by Mr. Hesketh, CEO, a 40-year veteran in the mining space who has led the development and construction of eight other mines around the world throughout his career. Mr. Hesketh has surrounded himself with equally experienced mining professionals both on the management team and the board.

The Tonopah gold project has all the hallmarks of a successful mining development project as key infrastructure is in place and is supported by compelling economic studies.

Please reach out and get to know Viva Gold as 2024 is shaping up to be a transformational year.

Viva Gold boasts a best-in-class management team and board with decades of both gold exploration and production experience. The company is advancing its high-grade Tonopah gold project in mining-friendly Nevada with the support of several institutional shareholders.

Viva is committed to developing the Tonopah gold project in an environmentally and socially responsible fashion. These values are aligned with management's core values and permeate throughout the company's decision-making process.

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