First Seven Drill Holes From 2020 Campaign On The Beartrack-Arnett

TORONTO - Revival Gold Inc. reported results from the first seven holes from the Company’s 2020 drilling program and provides an update on exploration at the former producing Beartrack Gold Project and the adjacent Arnett Gold Project located in Lemhi County, Idaho.

All seven exploration drill holes released today from the Haidee target area at Arnett intersected near-surface leachable mineralization along the northwestern and southeastern strike extension of the Haidee deposit. Results indicate that the structures that control mineralization are continuous along strike and have extended known mineralization beyond the current resource approximately 100 meters to the northwest and 50 meters to the southeast. Highlights include: 0.63 g/t Au over 22.9 meters1 in AC20-43D; 0.38 g/t Au over 41.0 meters1 in AC20-42D; 0.30 g/t Au over 9.9 meters1 in AC20-41D; and 1 Drilled width; true width estimated to be approximately equivalent to drilled width.

A total of 30 exploration and infill drill holes for approximately 4,900 meters have been completed by two rigs on the Haidee target since drilling began on August 4th, 2020. With the completion of drilling at Haidee the two rigs will now be moved to Beartrack. One rig will drill at the new Rabbit target area approximately 3 km south of the current resource at Beartrack and the second rig will pursue potential extensions of mineralization between the North and South Pits at Beartrack.

A third drill rig was mobilized to Beartrack on September 23rd, 2020 and has completed an initial 470-meter exploration drill hole between the North and South Pits. This hole, BT20-226D, intersected the Panther Creek Shear Zone (PCSZ), the primary control for Beartrack mineralization, and encountered both oxidized and unoxidized sulfides. Four follow-up holes are planned for this area and drill pad preparation is underway.

Assay results from BT20-226D and the remaining 23 holes at Haidee, will be released as the results become available. The third rig is currently drilling in the Joss area at the south end of the current Beartrack resource.

“This year’s drill program is off to a strong start with initial results that have expanded the footprint of heap leach mineralization in the Haidee area at Arnett and confirmed the continuity of the PCSZ between the North and South Pits at Beartrack”, said Hugh Agro, President and CEO.

Revival Gold’s 2020 ground geophysical program by Geofísica TMC, S.A. de C.V. is now complete. The original plan called for the completion of two square kilometers (21 line-kilometers) of gradient-array induced polarization-resistivity (IP-RES) at Arnett, one square kilometer (13 line-kilometers) of gradient-array IP-RES at Beartrack in the Joss area and five line-kilometers of dipole-dipole IP-RES in two lines in the Rabbit area at Beartrack.

At Arnett, the gradient-array IP-RES program was expanded to cover six square kilometers (65 line-kilometers) while the Beartrack program remained unchanged. The survey was expanded to cover the area from the Haidee target to the Italian mine, Roman’s Trench and the Shenon Gulch area, where several unexplained gold soil anomalies were identified in Revival Gold’s 2019 soil sampling program in which samples were collected from the A horizon and submitted to ALS Global for analysis by their Ionic Leach process, a method designed to detect subtle geochemical anomalies.