Exploration Activities At Beartrack-Arnett Gold Project

TORONTO - Revival Gold Inc. reported on recent developments including exploration activities on the Company's Beartrack-Arnett Gold Project located in Lemhi County, Idaho. Highlights: The Beartrack-Arnett Preliminary Economic Assessment ("PEA") is on track for completion by year-end 2020. The open-pit heap leachable component of Revival Gold's February 2020 Mineral Resource remains the basis for the PEA. Lead consultant, Wood plc, has completed mine planning and production scheduling. Cost estimation, an assessment of mine permitting strategies, development of the financial model and optimization are underway; Modifications to the Arnett Exploration Drilling Plan of Operations have been approved by the U.S. Forest Service which will allow relocation of some previously permitted drill sites to concentrate on resource expansion targets immediately along strike and down dip of the Haidee oxide gold resource; Revival Gold has recommenced field work at Beartrack-Arnett with an initial emphasis on further geological mapping, sampling and prospecting to ground-truth anomalies identified from airborne geophysical and soil sampling programs; Preparations have been made for a gradient array induced polarization geophysical survey along strike from the Haidee oxide gold resource to be completed on the Beartrack-Arnett property; & In the quarter ended June 2020, the Company received approximately $500,000 from the early exercise of warrants.

"Revival Gold and its consultant, Wood plc, are on track with the PEA on the potential re-start of a phase one open-pit heap leach operation at Beartrack-Arnett. At the same time, over the past few months, the company has successfully modified permitting for future drilling and recently mobilized to recommence geological field work for the summer," said Hugh Agro, President & CEO. "Beartrack-Arnett is the largest past-producing gold mine in Idaho and benefits from the presence of significant existing site infrastructure and an abundance of exploration targets across the Revival Gold's 5,400-hectare land position."