Viva Gold Advances Tonopah Gold Project Toward Mine Permitting and Mobilizes Core Rig to Midway Hills Discovery, Nevada

Viva Gold Corp. (VAU) released an operational update regarding its 100%-owned Tonopah Gold Project in Nevada, confirming that the Pre-Feasibility Study (PFS) remains on track for completion in the fourth quarter of 2026. The company reports that mine plan design is substantially complete, with detailed costing currently underway. Concurrently, environmental baseline studies are progressing, encompassing archaeological surveys, hydrologic modeling through water well drilling, and wildlife surveys necessary for Nevada mine permitting. Permitting activities are scheduled to begin in 2027, following the conclusion of the PFS.

At the Midway Hills discovery, a core rig is mobilizing to drill approximately 1,000 meters across three to four holes. This program aims to validate prior Reverse Circulation (RC) results, test extensions, and gather samples for metallurgical testing. Additionally, a geophysical survey is underway to identify further targets, and the company has staked 42 additional unpatented lode claims, covering approximately 840 acres in the southwestern portion of the land package. The update follows the closing of an oversubscribed C$6.5 million private placement in September 2026.

Viva Gold Corp. (VAU) announced routine progress on its Midway Hills project, marking a logical follow-up to the July 2026 reverse circulation (RC) discovery. The new core drilling program aims to validate metallurgical behavior and resource continuity. This activity aligns with permitting preparation steps previously disclosed as part of the company’s 2026 work plan, with no changes to the Preliminary Feasibility Study (PFS) timeline.

The company also confirmed that its September 2026 financing has closed. While this removes immediate near-term dilution risk, it does not resolve the underlying liquidity constraints highlighted in the Management’s Discussion and Analysis (MD&A). No new strategic partnerships, regulatory approvals, or financing events were announced, with the updates representing execution of a previously communicated roadmap.

Viva Gold Corp (VAU) is a pre-revenue exploration and development company focused on the Tonopah Gold Project in western Nevada. The project sits on the prolific Walker Lane Structural Trend, approximately 30 minutes south of Kinross Gold's Round Mountain mine.

A 2025 Preliminary Economic Assessment (PEA) outlined a conventional open-pit, gravity/CIL mill, and heap leach operation with an 8-year mine life. The company is currently advancing a Pre-Feasibility Study (PFS) to convert inferred resources to measured and indicated categories, optimize mine sequencing, and prepare for federal permitting. No mineral reserves have been declared; the project remains in the exploration/feasibility stage.