High Grade Oxides Intersected At Haidee Deposit

TORONTO - Revival Gold Inc. reported on eight core drill holes completed in connection with the 2023 exploration campaign at the Beartrack-Arnett Gold Project located in Idaho.  Each of the eight holes is from the Haidee deposit area and intersected above cut-off grade, near surface oxide gold mineralization. Highlights: 3.93 g/t gold over 20.6 meters1 including 19.6 g/t gold over 1.4 meters1 and 9.15 g/t gold over 4.3 meters1 in hole AC23-115D; 0.93 g/t gold over 12.8 meters1 and 0.47 g/t gold over 12.01 in AC23-106D; 0.55 g/t gold over 16.1 meters1 and 0.47 g/t gold over 14.3 meters1 in AC23-105D; and 0.50 g/t gold over 14.4 meters1 in AC23-110D.

Haidee drilling consisted of twelve core drill holes and was designed to test various targets around the current Haidee Mineral Reserve. In addition to the twelve holes at Haidee, Revival Gold completed six core holes in three new target areas at Beartrack-Arnett (Roman’s Trench, Midlands and Ridge) for a total of 18 core drill holes and 3,350 meters in this year’s exploration campaign. Results for two holes at Roman’s Trench were released on September 27th, 2023. Results from the remaining eight holes are expected soon.

Results from the eight holes include AC23-106D and AC23-115D which were drilled to offset high-grade mineralization encountered in hole AC22-094D (5.42 g/t gold over 10.2 meters drilled width) on the western flank of the Haidee Mineral Reserve. Both drill holes from this year’s program encountered additional high-grade mineralization with Hole AC23-115D intercepting mineralization in a potential feeder structure interpreted to have a north-northeast strike and a moderate southeasterly dip.  The intersections in AC22-094D, AC23-106D and AC23-115D confirm the presence of higher-grade mineralization outside the current reserve pit shape at Haidee and the potential to meaningfully increase Mineral Reserves in this area.

“The confirmation of higher grade near-surface oxide gold mineralization beyond the current Mineral Reserve at Haidee is a significant development,” said Hugh Agro, President & CEO. “The results validate our team’s exploration case for higher grade material and possible feeder structures at Haidee, and they demonstrate tangible potential to meaningfully expand Revival Gold’s proposed Haidee open pit and heap leach restart plans for Beartrack-Arnett. We look forward to releasing this year’s remaining drill results in the weeks ahead.”

In addition to drill results from the Haidee target area, Revival Gold is pleased to report results from a channel sampling program at Roman’s Trench designed to follow up on initial chip sampling from the Roman’s Trench access road.  A continuous channel was cut across an 11.9-meter outcrop exposure to obtain a more representative sample set.  Eight samples were taken at approximately 1.4-meter intervals along the length of the channel.  Five vertical crosscuts were also taken to characterize the vertical and lateral distribution of gold in the exposure.  Gold values ranged from 0.04 g/t to 112 g/t gold with two additional samples over 6 g/t gold.  Due to the nature of the exposure, samples were collected sub-parallel to the strike and dip of the vein so sampled widths do not reflect the true width of the structure. Nevertheless, these results further support the presence of high-grade oxide gold mineralization in the Roman’s Trench area and warrant additional follow-up.