First of Two Drill Rigs Arrives at the Mercur Gold Project

Business Upturn

10-07-2025

TORONTO, July 09, 2025 (GLOBE NEWSWIRE) — Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) ('Revival Gold' or the 'Company') is pleased to announce the arrival of the first of two drilling rigs on site at the Company's Mercur Gold Project ('Mercur' or, the 'Project') located in Utah, U.S.A.
Revival Gold's 2025 drilling program at Mercur has commenced. The program includes 3,000 meters of HQ and PQ core drilling to support future metallurgical and geotechnical testing and a further 10,000 meters of RC drilling to upgrade and potentially expand on the Project's Mineral Resources (see the Company's Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA prepared by Kappes, Cassidy & Associates, and RESPEC Company LLC dated May 2nd, 2025, (the, 'PEA') for further details).
The first rig to arrive on site is a core drilling rig contracted from Alford Drilling LLC. Planned core drilling is expected to be completed over the course of the next three to four months. Sample material will be collected and analyzed for gold and multi-element geochemistry before being sized and composited into samples for metallurgical testing. The objective is to augment and expand on existing metallurgical test data with variability testing on different size fractions across geographically distributed sites within the known Mineral Resource. Select samples will also be analyzed for geotechnical properties such as rock strength.
A second, RC, drill rig contracted from Boart Longyear is slated to arrive later this month. 60-75 drill RC holes are planned for the Rover, Main and South Mercur deposit areas over the course of the next five to six months. The primary objective of these holes is to support the development of a Preliminary Feasibility Study in 2026. Several of these holes will sample historical waste rock fill material originally mined during open pit operations in the 1980's and 90's. This material is currently assumed to be waste in the PEA (with no potential recoverable gold value). However, recent data (including drill hole EN070 which intersected 0.73 g/t Au over 93 meters in waste rock fill, see PEA for further details) suggests that the material may contain appreciable gold. While further study is needed, waste rock fill has been identified as an important potential additional value catalyst at Mercur (see PEA for further details).
'We anticipate significantly more exploration and development news from Revival Gold's field activities this year', said Hugh Agro, President & CEO. 'With two drilling rigs secured for Mercur and a third planned for Beartrack-Arnett later this year, Revival Gold's 2025 field season has the potential to be our most productive to date', added Agro.
The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as summarized in the PEA.
With the expected increase in news flow referenced above, Revival Gold further announces the extension of the Company's marketing services agreement ('Agreement') with Resource Stock Digest ('RSD') first announced March 20th, 2025, pursuant to an amendment to the Agreement dated July 1, 2025 (the 'Amended Agreement'). The Amended Agreement provides for an initial term of three months and may be extended for a period of up to one year at the discretion of the Company. Under the terms of the Amended Agreement, the Company shall pay RSD US$100,000 per quarter paid in advance of each quarter commencing July 1st, 2025 for marketing and advertising services. RSD is owned and operated by Gerardo Del Real and Nick Hodge, both shareholders of the Company. As at the date of the Agreement, the aggregate holdings of Mr. Del Real and Mr. Hodge represent less than 2% of the issued shares of Revival Gold. RSD and Messrs. Del Real and Hodge are at arm's-length to the Company. The Amended Agreement is subject to the approval of the TSX Venture Exchange.
Qualified Persons
Technical information included in this news release was reviewed and approved by Mr. John Meyer, P.Eng., a QP and Vice President, Engineering and Development for the Company, and Mr. 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 mine permitting preparations and ongoing 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 Market under the ticker symbol 'RVLGF'. The Company is headquartered in Toronto, Canada, with its exploration and development office located in Salmon, Idaho.
For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, Vice President & CFO
Telephone: [phone] or Email: [email protected]
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking statements could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to: statements with respect to the Company's exploration and development activities, that the Company's contemplated drill program will include 3,000 meters of HQ and PQ core drilling to support future metallurgical and geotechnical testing and a further 10,000 meters of RC drilling to upgrade and potentially expand on the Project's Mineral Resources, the timing, scale, scope and objectives of the planned drill program at the Project, the potential for drilling to support a preliminary feasibility study and the timing thereof, the Company's plan to secure a drill rig for Beartrack-Arnett later this year, the potential for Revival Gold's 2025 field season to be the Company's most productive to date, the goals and expected outcomes of the planned drill program at Mercur; and the planned drill program at Beartrack-Arnett.
Forward-looking statements and information involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results expressed or implied by such forward-looking statements or information, including, but not limited to: the Company's ability to finance the development of its mineral properties; uncertainty as to whether there will ever be production at the Company's mineral exploration and development properties; risks related to the Company's ability to commence production at the projects and generate material revenues or obtain adequate financing for its planned exploration and development activities; uncertainties relating to the assumptions underlying resource and reserve estimates; mining and development risks, including risks related to infrastructure, accidents, equipment breakdowns, labour disputes, bad weather, non-compliance with environmental and permit requirements or other unanticipated difficulties with or interruptions in development, construction or production; the geology, grade and continuity of the Company's mineral deposits; the uncertainties involving success of exploration, development and mining activities; permitting timelines; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; prices for energy inputs, labour, materials, supplies and services; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; unexpected cost increases in estimated capital and operating costs; the need to obtain permits and government approvals; material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to other risks and uncertainties disclosed in the Company's public filings with Canadian securities regulators, including its most recent annual information form and management's discussion and analysis, available at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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