Revival Gold Intersects 1.4 g/T Oxide Gold Over 44.2 Meters in Shallow Drilling and Extends Mineralization at Mercur
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The November 17, 2025 news release provides an update on the ongoing drilling program at Revival Gold's Mercur Gold Project in Utah. The highlight is a shallow intercept of 1.39 g/t oxide gold over a drilled width of 44.2 meters in hole RM25-117. Other notable intercepts include 0.95 g/t gold over 24.4 meters and 1.67 g/t gold over 12.9 meters.
The company reports that 10,000 meters of a planned 13,000-meter program have been completed. The results are intended to support a future Pre-Feasibility Study (PFS). The CEO, Hugh Agro, stated that the drilling continues to align with the project's Preliminary Economic Assessment (PEA) results and shows strong indications of exploration upside beyond the current mine plan.
The drill results are positive and consistent with the grades and widths required for a successful open-pit, heap-leach project as outlined in the March 2025 PEA. The primary intercept of 1.39 g/t over 44.2 meters is robust and, being shallow oxide mineralization, aligns perfectly with the company's development strategy.
However, the impact is assessed as routine. This drilling is part of a planned program to de-risk the project by converting Inferred resources to the Indicated category and confirming the geological model ahead of a PFS. The results, while good, confirm expectations rather than dramatically exceeding them. The market should view this as competent execution of the stated plan, which is a positive, but not a game-changing discovery.
The progression of news since late 2024 shows a clear, methodical path: - Late 2024: Finalized acquisition of Mercur, restructured Beartrack-Arnett agreement. - Q1 2025: Announced strategic investment from Dundee Corp ($3.2M @ $0.32), released a compelling PEA for Mercur showing a $294M after-tax NPV5% at $2,175/oz gold. - Q2 2025: Commenced 2025 fieldwork and permitting support activities for Mercur. - Q3 2025: Secured a major strategic financing of $29.08M at $0.48/share, led by EMR Capital, fully funding the company for PFS work and further exploration. Started the 13,000m drill program at Mercur. - Q4 2025: Have been releasing a steady flow of drill results (Oct 6, Oct 29, Nov 17) that are consistent with the PEA.
This latest news is another step in that progression. It successfully de-risks a portion of the resource and builds confidence in the path to a PFS, but it does not fundamentally alter the investment thesis that was established by the PEA and the subsequent strategic financing.
Revival Gold Inc. is a North American-focused gold exploration and development company. It controls two significant, multi-million-ounce gold projects in the United States: 1. Mercur Gold Project (Utah): This is the company's current flagship project. It is a past-producing mine that Revival is advancing towards a potential restart as an open-pit, heap-leach operation. The March 2025 PEA demonstrated robust economics, with a 10-year mine life producing an average of 95,600 ounces of gold annually. The company is currently focused on drilling to support a PFS planned for 2026. 2. Beartrack-Arnett Gold Project (Idaho): A large, high-potential gold system with an existing resource. The project has both heap-leach potential and higher-grade underground sulphide targets. Metallurgical work and exploration drilling are ongoing to unlock further value.