Mr. James Hesketh reports

VIVA GOLD ADVANCES TONOPAH GOLD PROJECT TOWARD MINE PERMITTING AND MOBILIZES CORE RIG TO MIDWAY HILLS DISCOVERY, NEVADA

Viva Gold Corp. has provided an update on the work programs now under way at its 100-per-cent-owned Tonopah gold project. Tonopah is located on the prolific Walker Lane structural trend in western Nevada, approximately a 30-minute drive south of Kinross Gold's Round Mountain mine. With its oversubscribed $6.5-million private placement closed in September, Viva is now advancing Tonopah on two parallel tracks: completing the prefeasibility study (PFS) and environmental baseline work required to support the mine permitting process in Nevada while following up the high-grade Midway Hills discovery announced in July, 2026.

Highlights

Advancing Tonopah toward mine permitting:

• The Tonopah PFS is advancing on schedule, with the mine plan design substantially complete and detailed costing under way; completion remains on track for Q4 2026.
• A power supply study for the project has been commissioned with NV Energy, the electrical grid operator in Nevada.
• An archeological survey has been commissioned to cover those portions of the Tonopah land package that have never been surveyed or have not been surveyed in the past 10 years, as part of the baseline studies required for permitting.
• A water well drilling rig is expected to mobilize to site to drill a second test well to use in aquifer pumpdown test work and four additional down-gradient monitoring wells to capture data for site hydrologic modelling.
• Permits have been received to commence test work to determine the ability of valley floor gravels to accept water reinfiltration, also for use in site hydrologic modelling.
• The 2026 golden eagle and raptor survey report has been received and is under review for submission to regulatory agencies.

Following up the Midway Hills discovery:

• Viva is mobilizing a core rig to complete approximately 1,000 metres of drilling in three to four holes at Midway Hills. These holes will include a twin of discovery hole TG2617 to validate prior reverse circulation (RC) results and additional holes testing extensions to the discovery zone, with the goal of gathering additional geologic information and sample for metallurgical testing.
• A geophysical firm is on site completing an additional 18.2 line kilometres of phase II CSAMT (controlled-source audio-frequency magnetotelluric) geophysical survey over the Midway Hills discovery area to help define targets for follow-up drilling.
• Based on the revised geologic model defined by the Midway Hills discovery and the potential for additional discoveries, Viva has staked 42 additional unpatented lode claims totalling approximately 840 acres in the southwestern portion of the Tonopah land package.

These programs are under way, recently completed, or expected to commence in October, 2026.

"Few exploration companies ever reach the point of permitting a mine, and, in Nevada, that path runs through a rigorous, well-defined process," stated James Hesketh, president and chief executive officer. "The archeological survey, additional hydrologic test and monitoring wells, and wildlife studies we are completing continue to build the site baseline data required to support permitting work, which we expect to commence in 2027. At the same time, our PFS remains on track for completion in 2026. These are the steps that take Tonopah from a defined resource toward a permitted mine.

"At Midway Hills, we were fortunate to capture a core rig between moves to drill a short [approximately] 1,000-metre, three-to-four-hole program," continued Mr. Hesketh. "One of these holes will twin TG2617 (21.4 metres at 0.32 gram per tonne gold and 35.1 metres at 1.62 grams per tonne gold and 16.7 grams per tonne silver), which was drilled by RC methods, to validate those results and to deepen the hole, since it bottomed in gold mineralization. Additional holes will be drilled as stepouts to further test the discovery zone. Core drilling, while more expensive, provides additional geologic information that, combined with the new CSAMT results, will help define targets for further drilling and provide samples for metallurgical test work."

Qualified person

James Hesketh, MMSA qualified person, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the company; he is an officer and director.

About Viva Gold Corp.

Viva Gold's 100-per-cent-owned Tonopah gold project is located within a large land position in established gold-mining country on the prolific Walker Lane structural trend in western Nevada, approximately a 30-minute drive south of Kinross Gold's Round Mountain mine. Viva has defined a high-confidence gold mineral resource and has demonstrated the potential for an economically viable open-pit, heap-leach/mill gold project through its 2025 preliminary economic assessment (PEA). A PFS has been initiated on the project, with a final report due in fourth quarter of 2026. Viva Gold is committed to advancing the Tonopah gold project in an environmentally and socially responsible manner, consistent with management's core values.

Viva Gold is led by chief executive officer James Hesketh, a 40-year mining industry veteran who has led the development and construction of eight mines globally. The board and management team include experienced mining professionals with expertise in exploration, project development, construction and mine operations.

Viva Gold trades on the TSX Venture Exchange (symbol: VAU), the OTCQB (symbol: VAUCF), and the Frankfurt Stock Exchange (symbol: 7PB). Viva currently has approximately 213 million shares outstanding. The company is advancing its Tonopah gold project in mining-friendly Nevada with the support of institutional shareholders.

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