Rev receives authorization for drilling at JMW

On October 15, 2025, REV Exploration announced it has received the "Autorisation de Travaux d’Exploration à Impacts (ATI)," which is the authorization for drilling at its JMW Gold Property in the Chibougamau Camp, Northern Quebec. The CEO, Jordan Potts, stated that this authorization, combined with the recently completed geochemical program and the doubling of the JMW land package, sets the stage for a data-driven drill campaign. The company has up to 32 permitted drill pads for its initial program.

The receipt of a drill permit is a necessary and positive step, but it is a routine operational milestone for an exploration company. It does not create intrinsic value but rather enables the next, potentially value-creative, step: drilling.

Reviewing the historical news flow, the company has been signaling its intent to drill JMW for months: * May 13, 2025: Announced plans for "near-term drilling" at JMW. * September 25, 2025: Stated the drill permit application was "progressing with regional government and local communities." * October 2, 2025: The CEO mentioned looking forward to updates "ahead of anticipated drill permits."

The market appears to have anticipated this news, with the stock price rallying from a low of $0.22 in mid-September to its current level of $0.43. Therefore, the announcement is largely priced in. While positive as it removes an administrative hurdle and clears the path for exploration, it is not a material surprise. The true material catalyst will be the assay results from the upcoming drill program. The news confirms the company is executing its stated plan, but the risk and reward profile remains unchanged until the drills turn and results are released.

REV Exploration Corp., formerly Gitennes Exploration, is a junior exploration company with a dual focus. 1. Gold Exploration: The current flagship asset is the 100%-owned JMW Gold Property, located in the prolific Chibougamau Gold Camp in Quebec. The property is considered an advanced prospect with 34 historical drill holes. A 2022 drill hole intercepted 7 g/t gold over 0.7 metres. The company's focus is on the underexplored sediment-volcanic contact zone. 2. Natural Hydrogen: In early 2025, the company pivoted to include natural hydrogen exploration. Its key asset in this sector is the drill-ready Aden Dome project in Alberta. The company also monetized Saskatchewan hydrogen permits in a deal with Max Power Mining Corp., retaining exposure via shares and warrants.