Mr. Hugh Agro reports

REVIVAL GOLD CONSOLIDATES MERCUR GOLD PROJECT PAVING THE WAY FOR REDEVELOPMENT

Revival Gold Inc. has closed the previously announced acquisition of Mercur Mines LLC, formerly known as Barrick Resources (USA) Inc., the owner of certain mineral and surface interests in the Mercur gold project in Utah.

The acquisition covers approximately 996 hectares, bringing the total Mercur project area to approximately 7,200 hectares. Revival Gold and its affiliates had previously consolidated ground held by a successor to Homestake Mining Company and various other owners. For further information on the acquisition see Revival Gold's news release dated Dec. 22, 2025.

"Revival Gold is now in the enviable position of controlling a large past-producing Carlin-style gold system -- a great exploration opportunity and a rarity outside the Nevada gold majors," said Hugh Agro, president and chief executive officer. "With economics benefiting from roads, power to site and the extensive technical information acquired over the years by Barrick, Mercur has the potential to be a transformational asset for Revival Gold's shareholders."

Mr. Agro continued: "Revival Gold's discussions with state, county and municipal officials have been constructive, and we are humbled by the welcome in Utah. Barrick operated to high standards of environmental and community stewardship at Mercur and Revival Gold is committed to upholding those same high standards as we take Mercur into the future."

Revival Gold released a robust, low-capital-intensity preliminary economic assessment (PEA) for Mercur in March, 2025. The company followed up the PEA with a 115-hole drilling program in 2025. Assay results for the remaining eight holes from this program are expected shortly. Sixteen kilometres of additional drilling, metallurgical testwork and the collection of all required baseline data are planned for this year with a prefeasibility study (PFS) expected to be released in Q1 2027.

Revival Gold anticipates a two-year timeline to repermit Mercur with potential mine construction forecast to begin in 2028 and first gold production expected in 2029. Based on the PEA, the project is projected to be Utah's largest gold producer and, at current gold prices, contribute over $4-billion (U.S.) to the Utah state economy, creating an estimated 400 direct jobs during construction and 300 direct jobs over 10 years of operation.

The acquisition was made pursuant to a membership interest purchase agreement (the MIPA) with Barrick Gold Exploration Inc., a wholly owned subsidiary of Barrick Mining Corp., pursuant to which Revival Gold and its affiliates acquired Barrick Resources (USA) Inc., that holds the mineral and surface interests in Mercur. On closing of the acquisition, Revival gold paid Barrick Gold $5-million (U.S.) and must pay Barrick Gold an additional $5-million (U.S.) in cash on each of the first, second and third anniversaries of commercial production.

In addition, Revival Gold granted Barrick Gold a 2-per-cent net smelter return royalty over the acquired mineral interests and a 1-per-cent net smelter return royalty on all mineral properties of which Revival Gold has an interest within one kilometre of the mining claims. In connection with the acquisition, Revival Gold assumed environmental surety bonding obligations with respect to the mining claims in the amount of $4,515,000 (U.S.).

Qualified persons

Technical information included in this news release was reviewed and approved by John Meyer, PEng, a QP and vice-president, engineering and development, for the company.

About Revival Gold Inc.

Revival Gold is one of the largest, pure gold mine developers in the United States. The company is advancing development of the Mercur gold project in Utah and continuing exploration at the Beartrack-Arnett gold project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol RVG and trades on the OTCQX market under the ticker symbol RVLGF. The company is headquartered in Toronto, Canada, with its exploration and development office located in Salmon, Idaho.

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