Mr. James Hesketh reports

VIVA GOLD MAKES MAJOR NEW HIGH-GRADE GOLD DISCOVERY AT MIDWAY HILLS AT THE TONOPAH GOLD PROJECT IN NEVADA

Viva Gold Corp. has made a major new gold discovery in the Midway Hills portion of its Tonopah gold project. Tonopah is located on the prolific Walker Lane mineral trend in Western Nevada, approximately a 30-minute drive south of Kinross Gold's Round Mountain mine.

Highlights

• New gold zone discovered at Midway Hills, approximately 1,400 metres northwest of the main Tonopah resource: drill hole TG2616 returned 38.1 m of 0.89 gram per tonne gold and 6.78 g/t silver, including 6.1 m of 3.56 g/t gold and 22.45 g/t silver from 179.8 m depth.
• A new target type at Tonopah -- The intercept sits entirely within the Palmetto Argillite (OPA), approximately 27 m below the volcanic contact and beneath historic drilling.
• Open at depth and along strike -- Anomalous gold continues to the bottom of TG2616, with assays pending for two stepout holes approximately 100 m east and west.
• Drill ready -- The target lies within the existing exploration plan of operations, allowing follow-up drilling to be approved on an accelerated basis, while Tonopah advances through a prefeasibility study.

TG2616 drilled vertically at a dip of minus 90 degrees intercepted 0.89 g/t gold and 6.78 g/t silver over 38.1 metres including 6.1 metres averaging 3.56 g/t Au and 22.45 g/t Ag from 179.8 metres depth.

This significant intercept was entirely within Ordovician age Palmetto Argillite (OPA), commencing approximately 27 metres below the Tertiary Volcanic (TVL)/OPA contact. Assays are pending for two remaining exploration holes in the Midway Hills, drilled on a line approximately 100 metres to the east and west of TG2616. The Midway Hills are located approximately 1,400 metres (approximately 1.0 mile) northwest of the main resource pit at Tonopah, which is currently the subject of prefeasibility study. Midway Hills is located within the boundaries of the existing exploration plan of operations, which will significantly accelerate the approval of additional drilling on this target.

"We are very encouraged with these results. This discovery clearly demonstrates the potential for a new zone of high-grade gold mineralization in an area of the Tonopah gold project that had been discounted by prior explorers. This area was originally drilled by Coeur d'Alene Mines in the 1980s followed by Rio Algom and Kennecott Minerals, with minor follow-up drilling by subsequent companies, all of whom had targeted potential gold mineralization in the overlaying TVL consistent with early geologic targeting concepts for the project. Numerous gold intercepts were encountered in the TVL, but nothing of any significance. After almost 40 years of effort, Viva made this new high-grade discovery by targeting deeper potential mineralization below prior drilling in the underlying OPA," stated James Hesketh, president and chief executive officer.

The gold mineralization in TG2616 is located wholly within OPA and is related to tertiary intrusives (Tki) within the argillite, and is associated with pyrite, quartz veining and minor silicification. Quartz veins and veinlets have acted as plumbing for mineralizing fluids, but significant wall rock penetration is evident. Intrusive Tki dikes are often present within and peripheral to the mineralization, suggesting that the structural preparation which allowed the emplacement of these dikes is also acting as a conduit for mineralizing fluids. Tki dikes are altered and mineralized within the broader gold zone.

The Midway Hills are foothills to the east of the San Antonio Mountains and differ from the main Tonopah project area, which is located on the valley floor in flat terrain. The TVL/OPA contact around TG2616 dips steeply to the north and west and suggests potential target zones at varying depths below surface. Surface geology and earlier shallow drilling in the vicinity confirm that several major faults exist nearby. Anomalous gold grades are present to the bottom of TG2616, suggesting that mineralization could continue below this major gold zone. The increase in the silver/gold ratio relative to the main deposit suggests that the mineralizing fluids are distinct and that emplacement could be deeper beneath the paleo-surface.

Viva consistently assays for total gold and silver as well as cyanide soluble gold and silver in all its drilling. The ratio of cyanide assay values to total values provides a rough approximation of potential gold recovery through heap leaching methods. The ratios seen in hole TG2616 indicate that the Midway Hill's may be metallurgically different from the main pit area with potential silver recovery being significantly higher than what is seen in the main deposit.

Nineteen reverse circulation drill holes totalling 3,210 metres have been completed in the 2026 reverse circulation drill program including three exploration holes drilled in the Midway Hills prospect area at Tonopah.

Quality assurance/quality control

Viva Gold utilizes a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody for samples taken by the company. Assays taken by the company are completed at independent laboratories which have internal quality assurance and quality control systems and procedures. Assays were performed by American Assay Laboratories Inc. of Reno, Nev., by fire assay and ICP methods with gravimetric finish.

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). Prefeasibility study (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 (VAU), the OTCQB (VAUCF) and the Frankfurt exchange (7PB). Viva currently has approximately 172 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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