Results Of Beartrack-Arnett Economic Impact Study

TORONTO - Revival Gold Inc. reported on study of potential economic impacts of the Company’s Beartrack-Arnett Gold Project on the local community of Lemhi County and the State of Idaho. Highlights: $1.2 billion cumulative contribution to Idaho State Gross Domestic Product (GDP) over an eight-year period (one year construction, seven years of operation); 858 average annual full-time jobs supported during operations including multiplier effect with direct employment of 267 personnel at site, plus an additional 506 full-time jobs supported during construction; and $87 million and $121 million of cumulative contribution to State of Idaho and Federal tax revenues respectively over the eight-year project life.

The Study is based on the results of Revival Gold’s Preliminary Economic Assessment (PEA) on the proposed first phase restart of open pit heap leach operations at the Beartrack-Arnett gold project located in Lemhi County, Idaho. “This Study confirms the broad extent of potential economic prosperity a successful restart of the Beartrack-Arnett project offers Lemhi County, the state of Idaho, and the nation. The project could have a substantial positive impact on employment, skills development and overall economic activity and would bring a much-needed economic boost directly and indirectly to hundreds of families and local businesses in Idaho. Beartrack-Arnett has the potential to support a peak of more than 1,300 high wage full-time jobs representing almost $100 million a year in total compensation largely in a region that suffers from higher unemployment than the Idaho state average,” said President & CEO, Hugh Agro.

The PEA outlined a first phase open pit mining and heap leach operation producing an estimated 72,000 ounces of gold per year over an estimated seven-year mine life following an initial capital investment of $100 million and a one-year construction period.  This PEA is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The Study found that during operations, Beartrack-Arnett will directly employ an average of 267 people per year, including indirect jobs, some 858 full-time jobs will be supported each year by the mine. An additional 506 full-time direct and indirect jobs will be supported during project construction.