Update On Status Of Work At Tonopah Gold Project

VANCOUVER - James Hesketh, President and CEO of Viva Gold Corp., reported, “In 2021 Viva will focus on the execution of its strategic business plan, which includes advancing the Tonopah gold project to feasibility study and permitting, while simultaneously continuing to develop the significant exploration potential of this highly prospective land position. Our plan is to develop an open pit-heap leach gold mine at Tonopah around our currently identified gold resource base to produce at least 40,000 to 50,000 ounces of gold per year with a 6-9 year mine life, while continuing to increase the gold resource base. To put this in context: our goal is to develop a business that at current gold prices would produce annual revenues in the range of US$80 to $100 million.”

During the second half of 2020, significant progress was made at the Tonopah project with a number of tasks being undertaken to meet Viva's strategic plan. Results from these activities will be utilized to provide the information required to initiate feasibility study and permitting activities in 2021.