Revival Gold

Revival Gold Inc. (TSX-V: RVG, OTCQX: RVLGF) is a growth-focused gold exploration and development company advancing multi-million-ounce brownfield assets in the United States. The company’s flagship Beartrack-Arnett Project in Idaho is the largest past-producing gold mine in the state and is progressing toward a heap leach restart with a Preliminary Feasibility Study (PFS) supporting an 8-year mine life and an average annual production of 65,300 ounces of gold. Complementing this is the Mercur Project in Utah, a historic heap leach gold operation with past production of 2.6 million ounces, currently advancing toward a Preliminary Economic Assessment (PEA) by Q1 2025.

With a focus on low-cost, near-term production and significant exploration upside, Revival Gold is strategically positioned to deliver value. The company benefits from strong infrastructure, a seasoned management team, and jurisdictional advantages in two of the top-ranked mining regions in the U.S. Revival Gold’s heap leach strategy offers a cost-effective pathway to gold production while unlocking long-term value through ongoing exploration at high-grade targets.

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Revival Gold presents a compelling investment opportunity with its well-advanced gold assets in politically stable and mining-friendly jurisdictions. The company is targeting a phased production strategy, starting with heap leach operations at Beartrack-Arnett, followed by potential expansions and additional output from Mercur. With a combined mineral resource base of 3.8 million ounces of gold, Revival Gold has the potential to become a leading mid-tier gold producer in North America.

The company's heap leach development plan provides a low-capital, high-margin production pathway, with the Beartrack-Arnett PFS demonstrating a post-tax NPV of $170 million and an IRR of 34.6% at $2,000/oz gold. The upcoming PEA for Mercur is expected to further enhance Revival Gold’s production profile. In addition, ongoing exploration continues to identify high-grade zones, offering significant resource growth potential.

With a tight capital structure, institutional backing, and an experienced leadership team, Revival Gold is positioned to capitalize on the growing demand for gold while delivering long-term value creation for shareholders.

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Revival Gold Inc. is led by a seasoned management team with deep expertise in mine development, exploration, and corporate finance. At the helm is Hugh Agro, President & CEO, a mining executive and engineer with extensive leadership experience, including as Executive Vice President at Kinross Gold. Under his leadership, Revival Gold is advancing its flagship projects with a disciplined approach to development and exploration.

John Meyer, VP Engineering & Development, brings a wealth of technical expertise, having held senior engineering roles at Perpetua Resources, Kinross, and Barrick Gold. He is responsible for guiding the heap leach restart at Beartrack-Arnett and the economic assessment of Mercur.

Financial oversight is led by Lisa Ross, VP & CFO, an accounting and finance professional with a background at Kirkland Lake Gold and Kinross, ensuring strong financial discipline and strategic capital management.

The company’s exploration and resource growth initiatives are driven by Dan Pace, Chief Geologist, and Steven T. Priesmeyer, VP Exploration, both of whom bring extensive experience in gold exploration and discovery.

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Revival Gold is pursuing a staged growth strategy focused on bringing its flagship Beartrack-Arnett Project back into production while advancing the Mercur Project toward development. The company’s phased approach prioritizes low-cost, near-term production through heap leaching, with future expansion opportunities in high-grade underground resources and mill processing.

The first phase of growth focuses on the heap leach restart at Beartrack-Arnett, supported by an 8-year mine life and an average annual production of 65,300 ounces of gold. The second phase includes the development of underground mining potential at Beartrack-Arnett, which hosts high-grade sulphide mineralization.

In parallel, Revival Gold is advancing the Mercur Project in Utah, a historic heap leach gold mine with a past production of 2.6 million ounces. The company expects to complete a Preliminary Economic Assessment (PEA) by Q1 2025, potentially adding another 80,000–100,000 ounces of annual production.

Exploration remains a key pillar of Revival Gold’s growth strategy, with a focus on expanding mineral resources at both projects. The company has identified high-grade targets at Beartrack-Arnett’s Joss underground zone, where recent drilling has intercepted thick zones of high-grade gold mineralization.

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Revival Gold Inc. maintains a strong financial position, leveraging its low-capital heap leach strategy to advance its flagship projects toward production. As of February 2025, the company has a market capitalization of approximately C$67 million, with C$4.4 million in cash and a disciplined approach to financing project development.

The Beartrack-Arnett Project presents a robust financial case, with a pre-tax net present value (NPV) of $211 million and an internal rate of return (IRR) of 38.7% at $2,100/oz gold. The project’s all-in sustaining cost (AISC) is estimated at $1,235 per ounce, positioning it competitively within the industry. With a modest pre-production capital requirement of $109 million, Beartrack-Arnett offers a cost-effective pathway to near-term gold production.

Revival Gold is also advancing the Mercur Project, a past-producing heap leach gold mine in Utah, with a Preliminary Economic Assessment (PEA) expected by Q1 2025. The company anticipates that Mercur will further enhance its production profile, adding another potential 80,000–100,000 ounces per year.

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Revival Gold Inc. is on track to becoming a leading North American gold producer, with a clear pathway to near-term production and significant exploration upside. The company’s Beartrack-Arnett Project in Idaho, supported by a robust Preliminary Feasibility Study (PFS), offers a low-capital, high-margin heap leach restart with the potential for future underground expansion. Meanwhile, the Mercur Project in Utah, a historic 2.6-million-ounce past producer, is advancing toward a Preliminary Economic Assessment (PEA) in Q1 2025, further strengthening Revival Gold’s production profile.

With a phased growth strategy, disciplined financial management, and a veteran leadership team, Revival Gold is well-positioned to deliver sustainable shareholder value. The company benefits from low-cost operations, existing infrastructure, and strong jurisdictional support, reducing development risk while enhancing its long-term economic potential.

As global demand for gold continues to grow, Revival Gold presents an attractive investment opportunity, offering exposure to low-cost, near-term gold production and the potential for future resource expansion. With a commitment to responsible mining, operational efficiency, and shareholder returns, Revival Gold is set to revive gold production in the U.S. and create lasting value in the mining sector.

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