Revival Gold Announces Closing of Sale of Non-Core Diamond Mountain Phosphate Property

Revival Gold Inc. has closed the sale of its 51% interest in the non-core Diamond Mountain phosphate project to Canadian Phosphate Ltd. The transaction was executed pursuant to a property purchase agreement dated May 29, 2026, which also saw Utah Minerals Resources LLC sell its remaining 49% interest to Canadian Phosphate. This closing follows the terms previously announced in a press release dated June 1, 2026.

The deal structure includes immediate cash and equity consideration, alongside additional deferred payments and equity options tied to future milestones. Upon closing, Revival Gold received a cash payment of US$127,500 and 3,081,286 shares of Canadian Phosphate ("CP8 Shares"). The equity portion was valued at approximately US$270,000, based on a deemed price of AUD$0.125 per CP8 Share.

Deferred consideration is structured in two tranches. On the first anniversary of the agreement, Revival Gold is entitled to a cash payment of US$255,000. The company may elect to receive this payment in CP8 Shares at its sole discretion. If this option is exercised, the price per CP8 Share will equal a 5% discount to the 15-day volume weighted average price (VWAP) on the Australian Stock Exchange, ending the day prior to notice. A second deferred payment of US$765,000 is due on the first anniversary of commercial production, with Canadian Phosphate holding the option to satisfy this payment in CP8 Shares.