Financing more than doubles the CDN$3.0 million originally sought; proceeds fund follow-up drilling at the new Midway Hills discovery and to advance engineering and permitting at Tonopah

Viva Gold Corp. (TSX-V: VAU) is pleased to announce that it has completed the oversubscribed non-brokered private placement described in its news releases of August 26 and 27, 2026. In connection with the closing of the Offering, the Company issued an aggregate of 40,626,425 units at a price of CDN$0.16 per Unit for gross proceeds of CDN$6,500,228. Each Unit consists of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant. Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.24 per Share until September 9, 2029, which is 36 months from the date of issuance.

“The response to this financing was exceptional, and we are grateful for the strong support from our existing shareholders and from the new investors who joined the register,” said Jim Hesketh, President and Chief Executive Officer of Viva Gold. “Closing at CDN$6.5 million — more than double what we originally set out to raise — allows us to push Tonopah forward on several fronts at once: follow-up drilling on our new high-grade discovery at Midway Hills, the engineering and environmental work that supports our Prefeasibility Study, and preparation of the Mine Plan of Operations that is used to start the permitting process. Strong participation of insiders in the Offering reflects confidence in our Board and management and in the unlocked value we are building at Tonopah.”

Insiders of the Company acquired an aggregate of 8,105,800 Units in the Offering, which participation constituted a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company’s market capitalization. As required by MI 61-101, the Company advises that it expects to file a material change report relating to the Offering less than 21 days before completion of the Offering, which is necessary to complete the Offering in an expeditious manner and is reasonable in the circumstances.

Viva Gold intends to use the net proceeds of the Offering, after payment of any finder’s fees, to advance its 100%-owned Tonopah Gold Project in Nevada on several fronts in parallel, including: follow-up exploration drilling at the new high-grade gold discovery in the Midway Hills zone of the project; initial detailed engineering work to follow the Prefeasibility Study now underway; environmental baseline studies; and preparation of the Mine Plan of Operations required to commence the mine permitting process. The balance of the net proceeds will be used for general working capital purposes.

The Company will pay aggregate finder’s fees of CDN$106,410 and 665,062 Share purchase warrants in connection with subscriptions from subscribers introduced to the Offering by Canaccord Genuity Corp., Ventum Financial Corp., Research Capital Corporation, Richardson Wealth Limited, Red Cloud Securities Inc. and Haywood Securities Inc. Each Finder’s Warrant is exercisable to acquire one Share in the capital of the Company at an exercise price of CDN$0.24 per Share until September 9, 2029, which is 36 months from the date of issuance.

The Offering remains subject to final approval of the TSX Venture Exchange.

The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

About Viva Gold

Viva Gold’s 100%-owned Tonopah Gold Project is located within a large land position in established gold mining country on the prolific Walker Lane Structural Trend in western Nevada, approximately a 30minute drive south of Kinross Gold’s Round Mountain Mine. Viva has defined a high-confidence gold mineral resource and has demonstrated the potential for an economically viable open-pit, heap leach/mill gold project through its 2025 preliminary economic assessment (PEA). A Prefeasibility Study is being advanced for the project, with a final report due in the fourth quarter of 2026. Viva Gold is committed to advancing the Tonopah Gold Project in an environmentally and socially responsible manner, consistent with management’s core values.

Viva Gold is led by CEO James Hesketh, a 40-year mining industry veteran who has led the development and construction of eight mines globally. The Board and management team includes experienced mining professionals with expertise in exploration, project development, construction, and mine operations. Viva Gold trades on the TSX Venture Exchange (VAU), the OTCQB (VAUCF), and the Frankfurt Exchange (7PB).

Viva will have  approximately 212.7 million shares outstanding following closing of the Offering. The Company is advancing its Tonopah Gold Project in mining-friendly Nevada with the support of institutional shareholders.