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Infill and exploration drilling to commence later this month
VANCOUVER, BC TheNewswire - February 11, 2026 Viva Gold Corp (TSXV: VAU,OTC:VAUCF; OTCQB: VAUCF) (the "Company" or "Viva") is pleased to report that the Company has staked an additional 36 unpatented mineral lode claims at its 100% owned Tonopah Gold Project ("Tonopah," or "Project") located near the town of Tonopah, Nevada. These claims cover approximately 720 acres (291 Hectares) of land immediately northwest of Tonopah and were located to cover an area outside of the existing claim block identified through third-party review as being highly prospective for gold exploration.
Viva has commenced work on a field program to complete an additional 14,000 meters of CSAMT geophysical survey, a controlled‑source electromagnetic method used to map subsurface resistivity associated at Tonopah with potential silica emplacement during gold deposition. CSAMT has been one of the major tools used in identifying gold potential at Tonopah. Viva has also received approval from the U.S. Bureau of Land Management for 23 new drill sites in and around the PEA design pit area of the Tonopah project and at the Midway Hills prospect area located approximately 1.4 kilometers northwest of the main pit area. Drilling is expected to commence later this month with a focus on converting remaining high-grade inferred mineral resource in the PEA pit area to measured and indicated category in preparation for feasibility study work, while also performing step out drilling on known mineral extension potential around the pit area, with additional holes to test targets at the Midway Hills prospect area of the Project.
President and CEO Jim Hesketh stated, "With new claims staked, additional drill permits approved, and field work underway, we're accelerating the Tonopah Gold Project toward permitting and development. Nevada is one of the world's premier mining jurisdictions, and projects that advance through permitting often see meaningful market re-ratings. We believe Tonopah is well positioned to deliver that value for our shareholders."
About Viva Gold Corp:
Viva Gold's 100% owned Tonopah gold project sits in the middle of gold mining country about a half hour drive south of the Round Mountain mine owned by Kinross Gold and controls a major land position on the prolific Walker Lane Trend in Western Nevada. Viva has developed a high confidence level gold Mineral Resource and can demonstrate the potential for an economically viable open pit, heap leach/mill gold project through rigorous PEA study. Viva Gold is committed to developing the Tonopah Gold Project in an environmentally and socially responsible fashion. These values are aligned with management's core values and permeate throughout our decision-making process.
Viva Gold is led by CEO James Hesketh, a 40-year veteran in the mining space who has led the development and construction of eight other mines around the world throughout his career. James has surrounded himself with equally experienced mining professionals both on the management team and the board.
Viva Gold trades on the TSX Venture exchange "VAU", on the OTCQB "VAUCF" and on the Frankfurt exchange "7PB". Viva currently has ~172 million shares outstanding and boasts a best-in-class management team and board with decades of gold exploration and production experience. The Company is advancing its high-grade Tonopah Gold Project in mining friendly Nevada with the support of several institutional shareholders. More information can be found on https://www.Sedar.Com and please visit our website: www.vivagoldcorp.com.
James Hesketh, MMSA-QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Graham Farrell, Investor Relations
(416) 842-9003
graham.farrell@vivagoldcorp.com
Forward-Looking Information:
This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian securities legislation (collectively, "forward-looking information"), including but not limited to forward-looking information related to Mineral Resource estimates for the Project. The material factors that could cause actual results to differ materially from the conclusions, estimates, designs, forecasts or projections in the forward-looking information include any significant differences from one or more of the material factors or assumptions that were set forth in this press release including geological and grade interpretations and controls and assumptions and forecasts associated with establishing the prospects for economic extraction of gold mineral resource and preliminary economic analysis at the Tonopah Gold Project. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy, inflationary pressures, pandemics, and issues and delays related to permitting activities; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the accuracy of capital and operating cost estimates; the variability of actual from estimated gold recovery; potential for geotechnical issues; the risks and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital requirements. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada available at www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.
Cautionary Note to Investors --- Investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this news release are or will be economically or legally mineable. United States investors are cautioned that while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances. Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category. The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized.
Neither 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.
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