Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to announce further results from the Company’s 2022 drilling program at the Beartrack-Arnett Gold Project located in Idaho, USA.

Highlights:

• Drill hole BT22-243D intersected 7.92 g/t gold over 2.9 meters and 2.02 g/t gold over 47.4¹ meters approximately 175 meters below the south end of the South Pit area;
• These results offer potential to expand the Beartrack-Arnett Mineral Resource with the lengthier mineralized interval grading more than three times the open pit mill cut-off grade calculated in Revival Gold’s most recent Mineral Resource estimate (see Revival Gold NI-43-101 Technical Report by Wood plc dated July 13^th, 2022, for further details);
• The high-grade interval observed in BT22-243D is consistent with the overall tenor of high-grade mineralization observed in the Joss area, located approximately 1.2 kilometers to the south;
• In addition to BT22-243D, three other core drill holes targeting the depth extension of mineralization at Beartrack-Arnett were completed in the 2022 program; two in the Joss high-grade target area (BT22-241D, which was released on September 12^th, 2022, and BT22-242D, which was released on September 22^nd, 2022) and one between the South Pit and the Joss (BT22-244D)
• Results for drill hole BT22-244D are expected in December.

¹ Drilled width; true widths are estimated to be 40% to 60% of drilled width.

“Today’s results confirm the presence of high-grade gold mineralization in the South Pit area at Beartrack-Arnett. Similar grades are also present in the Joss area, which extends approximately 1.2 kilometers to the south. Together, the Joss and the South Pit areas encompass some two kilometers of favourable structure, and, in both areas, we see broad mineralized intersections and higher-grade zones. Mineralization is vertically dipping and conducive to open pit and underground mining”, said Hugh Agro, President & CEO. “Data review is ongoing and follow-up drilling is being planned”, added Agro.

Details:

Detailed results for drill hole BT22-243D released today are presented in the table below:

¹ True width is estimated to be approximately 40% to 60% of drilled width. Numbers may not add up due to rounding.

QA/QC Program

Quality Assurance/Quality Control consists of the regular insertion of certified reference materials, duplicate samples, and blanks into the sample stream. Check samples are submitted to an umpire laboratory at the end of the drilling program. Sample results are analyzed immediately upon receipt and all discrepancies are investigated. Samples are submitted to the ALS Geochemistry sample preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry laboratory in Reno, Nevada or Vancouver, British Columbia, and multi-element geochemical analyses are completed at the ALS Minerals laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab.

Gold assays are determined on samples consisting of half drill core by fire assay and AAS on a 30-gram nominal sample weight (Au-AA23) for Beartrack, and Fire Assay and AAS on a 50-gram nominal sample weight (Au-AA24) for Arnett. For shallow holes, targeting leachable mineralization, gold content is also determined by cyanide leach with an AAS finish on a nominal 30-gram sample weight (Au-AA13). Multi element geochemical analyses are completed on selected drill holes using the ME-MS 61M method.

Qualified Person

Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and technical content.

About Revival Gold Inc.

Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. Engineering work has been initiated on a Preliminary Feasibility Study for the potential restart of heap leach operations. Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of 65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and Inferred Mineral Resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold (see Revival Gold NI-43-101 Technical Report by Wood plc dated July 13^th, 2022, for further details). The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.