Positive Initial Stage Of 2021 Heap Leach Test Work Program

TORONTO - Revival Gold Inc. reported the completion of the initial stage of the 2021 heap leach metallurgical test work program for the Beartrack-Arnett Gold Project located in Idaho. Sample material, consisting of 1.94 tonnes of material from Beartrack and 0.80 tonnes of material from Arnett, was delivered in June 2021. The first stage of the test work program included head analysis, acid base accounting and bottle roll tests. The second stage of the program consists of column tests and will commence this month.

The primary goal of the test work program is to optimize Beartrack-Arnett heap leach recoveries and build on previous test work used in Revival Gold’s 2020 phase one heap leach Preliminary Economic Assessment (“PEA”). Results will be used to establish recovery parameters for a heap leach Pre-Feasibility Study (PFS), which is scheduled to be completed by Wood in the second half of 2022.

Bottle roll tests were undertaken at three crush sizes (12.5 mm, 25 mm and 38 mm), with nine tests per size, for a total of 27 tests. The effect of crush size on overall gold recovery was evaluated. While these results do not represent the ultimate gold extraction levels to be used in the PFS, they are generally consistent with, or more favorable than, recovery assumptions used in the PEA.

“While continuing to drill, Revival Gold is taking steps to optimize and de-risk its first phase heap leach plans for Beartrack-Arnett. Today’s initial results from this year’s heap leach metallurgical program are encouraging and generally consistent with, or more favorable than, the recovery assumptions used in our PEA,” said Hugh Agro, President & CEO. “Final results from the current metallurgical program, including results from the column tests underway, along with results from the past two year’s exploration drilling, will establish the foundation for a mineral resource update in early 2022, a PFS by the end of 2022 and, potentially, a subsequent decision to proceed with the first phase restart of heap leach gold production at Beartrack-Arnett.”