Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to report results from the final eight core holes completed in connection with the Company’s 2023 exploration campaign at the Beartrack-Arnett Gold Project located in Idaho, USA.   Each of the eight holes released was drilled in the broader Haidee deposit area (see Figure 1 below) and intersected above cut-off grades in near-surface oxide gold mineralization.

Highlights

• 0.37 g/t gold over 22.6 meters¹ in hole AC23-109D in near-surface oxide gold mineralization at the previously untested Ridge target, located approximately 1,000 meters northwest of the Haidee deposit.
• 0.36 g/t gold over 9.0 meters¹ in hole AC23-118D in near-surface oxide gold mineralization at another previously untested target at Midlands, located approximately 400 meters southeast of the Haidee deposit.
• 0.49 g/t gold over 24.3 meters² and 1.41 g/t gold over 5.2 meters² in AC23-119D up-dip of the current Haidee deposit.
• 0.62 g/t gold over 17.8 meters¹ in AC23-113DA and 0.40 g/t gold over 12.6 meters¹ and 0.31 g/t gold over 32.9 meters¹ in AC23-107D down-dip on the current Haidee deposit.

¹ True width is estimated to be 50% to 70% of drilled width. ² True width is unknown.

Drill holes AC23-109D and AC23-118D include significant intersections of oxide gold mineralization discovered under areas of post-mineralization cover targeted based on the results of a surface geochemical survey, geophysics, and mapping. Hole AC23-109D is particularly intriguing as it was stopped short of its intended target due to operational issues. Mineralization occurs in a brecciated quartzite, thought to overlay the rocks that host mineralization in the Haidee deposit area.

“Today’s results from Ridge and Midland, together with those from up-dip and down-dip of the current Haidee deposit, validate our enthusiasm for the broader Haidee area and confirm the potential for continued growth in near-surface oxide gold resources at Beartrack-Arnett”, said Hugh Agro, President & CEO.

Revival Gold’s 2023 drilling at Beartrack-Arnett consisted of eighteen core drill holes totaling 3,350 meters. Twelve core holes were drilled in and around the Haidee deposit. Six core holes were drilled in three new target areas (Roman’s Trench, Midlands, and Ridge). Results for the first ten holes (Roman’s Trench and Haidee) were released on September 27^th, 2023, and October 31^st, 2023. Today’s release presents the remaining drill holes at Haidee as well as those at Midlands and Ridge. Figure 2 provides a plan drawing of the Haidee and Midlands target areas. Figure 3 provides a conceptual cross-section through the Haidee-Ridge target area.

Detailed Results

¹ True width for all holes but AC23-119D and AC23-120D is estimated to be 50% to 70% of drilled width.
² AC23-107D: 27% recovery from 0.7 meters to 1.7 meters, 42% recovery from 1.7 meters to 2.3 meters, and 50% recovery from 3.7 meters to 4.1 meters.
³ AC23-119D and AC23-120D: Recovery in these holes was poor and the true thickness of mineralization is unknown.

Figure 1: 2023 Drill Campaign Overview

Figure 2: Haidee-Midlands Target Area

Figure 3: Ridge Zone to Haidee Deposit – Conceptual Section

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 Persons

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 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. The Project benefits from extensive existing infrastructure and is the subject of a recent Preliminary Feasibility Study for the potential restart of open pit heap leach gold production operations.

Since reassembling the Beartrack-Arnett land position in 2017, Revival Gold has made one of the largest new discoveries of gold in the United States in the past decade. 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.