Mr. James Hesketh reports

VIVA GOLD ADVANCES TONOPAH GOLD PROJECT, NEVADA, ON THREE FRONTS: PRE-FEASIBILITY STUDY, PERMITTING BASELINE WORK AND MIDWAY HILLS DRILLING

Viva Gold Corp. has provided an update on the work programs 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. Work at Tonopah is advancing on three parallel tracks: completion of the prefeasibility study (PFS); the environmental baseline studies required to support mine permitting; and follow-up drilling at the Midway Hills discovery announced in July, 2026. Together, these programs are designed to carry Tonopah from the study stage into formal mine permitting.

Highlights:

• The Tonopah PFS remains on schedule for completion in late Q4 2026. Mine design is substantially complete and detailed costing is under way. A detailed trade-off study on plant sizing, based on a larger resource estimate that incorporates 2026 drilling, has been completed. The PFS will be based on a 3,000-tonne-per-day gravity/CIL mill for higher-grade mineralization and a 7,000-tonne-per-day heap leach for lower-grade mineralization.
• A 1,000-metre core drilling program is under way at the Midway Hills discovery, located approximately 1.4 kilometres northwest of the main pit area. The first hole is being drilled from the same collar location as discovery hole TG2617 (35.1 metres at 1.62 grams per tonne Au and 16.7 g/t Ag, and 21.4 metres at 0.32 g/t Au), at minus 75 degrees and along strike to the northwest. The hole has reached a depth of approximately 250 metres and has intersected the Ordovician Palmetto Argillite approximately 65 metres northwest of TG2617. Alteration in the overlying Tertiary volcanic unit includes abundant iron oxide, silicification and quartz veining. Visual observations of alteration are not a substitute for laboratory assays. The hole is expected to be completed next week, after which the core will be logged, sampled and submitted for assay.
• Multielement and cyanide-soluble gold and silver assays from holes TG2616 to TG2618 indicate that Midway Hills mineralization differs from the main Tonopah deposit in several key respects, including higher ratios of cyanide-soluble to total gold and silver and lower silica content. Both are positive early indicators for metallurgical recovery, which will be confirmed through metallurgical testwork.
• A second drill rig is on site and drilling the first of four downstream groundwater monitoring wells. The crew will also drill and complete a second aquifer pump test well, two adjacent water level measurement boreholes, and an additional upstream monitoring well. These holes are being logged and samples captured for assay. These wells provide additional infrastructure for aquifer pump testing and rapid infiltration basin testing, which together with existing test data will support a robust numerical groundwater model of the site, a key requirement of the environmental review under the National Environmental Policy Act.
• An archaeological survey team is mobilizing to the site this week to complete a Class III archaeological survey over the portions of the Tonopah land package that have never been surveyed or have not been surveyed in the last 10 years, as part of the baseline studies required for permitting.
• The 2026 golden eagle and raptor survey report and completed geochemistry studies have been submitted to the U.S. Bureau of Land Management (BLM) for review.

"We are well funded and moving quickly to carry Tonopah through the PFS and baseline studies and complete a mine plan of operations, which will be submitted to the BLM to begin the mine permitting process. Moving Tonopah into permitting is the most direct path to derisking the project and building shareholder value, and it is what separates a mine developer from an explorer. Follow-up drilling at Midway Hills adds a second avenue for growth alongside that work," stated James Hesketh, president and chief executive officer.

Qualified person

James Hesketh, MMSA-QP, 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). 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 CEO 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 (VAU), the OTCQB (VAUCF) and the Frankfurt exchange (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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