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Revival Gold Inc. (TSXV: RVG,OTC:RVLGF, OTCQX: RVLGF) ("Revival Gold" or the "Company") is pleased to provide an update on drilling and development activities at the Company's Mercur Gold Project ("Mercur" or, the "Project") located in Utah, U.S.A.
Drilling Highlights
- Two rigs operating at Mercur since July have completed approximately 3,200 meters of a planned 13,000-meter drilling program at Mercur this year.
- Six PQ core holes have been drilled to collect material from the east walls of the Main Mercur pits and Rover area for column leach testing. Twenty-two RC holes have been drilled in the Marion Hill and Rover areas to infill historical drilling (Figure 1).
- Core and chip logging is ongoing with Revival Gold having implemented Datarock Pty Ltd's geoscience platform this season to process chip tray images and utilize machine learning to help interpret the data. Optical televiewer images have been collected from two core holes to support geotechnical studies on the project.
- 1,300 samples have been submitted to ALS Assay Lab from sixteen holes.
- RC drilling has predominantly been targeted to infill Inferred Mineral Resources in the Rover area, with some holes planned to pursue potential extensions outside the existing mineral resources.
- Core drilling will continue to focus on collecting representative metallurgical samples throughout the Main Mercur area . Planned core drilling at South Mercur this year remains subject to permitting approval by Utah's Division of Oil, Gas and Mining.
Development Highlights
- Revival Gold has engaged Stantec Consulting Services Inc. and KTW Environmental Consultants LLC to evaluate the existing environmental baseline information , identify supplemental baseline data requirements and develop baseline work plans.
- Kappes, Cassiday & Associates has been engaged to oversee metallurgical sample collection , design metallurgical composites in support of future metallurgical testing, and coordinate with our permitting team to develop a project description and footprint to optimize project permitting timelines and project economics.
- Subterra LLC has been engaged to support drilling-related geotechnical data collection and to develop Pre-Feasibility Study ("PFS")-level open-pit geotechnical models.
- RESPEC Company LLC has been retained to refine and update 3D models for mineral resource estimating purposes in support of a PFS.
"With two rigs operating and a third on its way, we've completed about a quarter of the planned 13,000-meter drilling program at Mercur this year", said Hugh Agro, President & CEO. "Meanwhile, key components of the Mercur development consulting team have coalesced under the leadership of our VP, Engineering & Development, John Meyer, in preparation for the potential completion of a PFS and the formal launch of mine permitting in 2026. Initial assay results from the drilling program are expected later this fall", added Agro.
Figure 1: Main Mercur Drilling Plan (completed drill holes numbered)
The Mercur property includes interests optioned from Barrick Resources (USA) Inc. and others as summarized in 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.
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: (416) 366-4100 or Email: info@revival-gold.com
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, metallurgy, permitting and development activities, the goals and expected outcomes of the planned drilling and development program at Mercur, and the expectation that the Company will proceed with the potential completion of a PFS and formal launch of mine permitting on the Project.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a012f8e-61aa-43f3-9190-7bd777d2d4ca
