Revival Gold Announces Closing of Sale of Non-Core Diamond Mountain Phosphate Property
Revival is divesting its non-core phosphate asset to fund the development of its core U.S. gold pipeline.
Revival Gold Inc. has completed the sale of its 51% stake in the non-core Diamond Mountain phosphate project to Canadian Phosphate Ltd. The immediate consideration for the transaction consists of US$127,500 in cash and 3,081,286 shares of Canadian Phosphate, valued at approximately US$270,000 based on a deemed price of AUD$0.125 per share.
Deferred consideration includes a US$255,000 cash payment due on the first anniversary of the agreement, and a US$765,000 payment triggered by the first anniversary of commercial production at Diamond Mountain. Both deferred payments may be satisfied in Canadian Phosphate shares at the company's discretion. The transaction supports management’s strategic pivot to focus exclusively on its U.S. gold project pipeline, which includes the Mercur project in Utah and the Beartrack-Arnett project in Idaho.
Revival Gold Inc. (RVG) has closed the sale of a non-core asset, a routine follow-up to the announcement made on June 1, 2026. The transaction provides a modest immediate cash injection of approximately US$400,000 and an equity stake in a phosphate developer. However, deferred payments within the deal are highly speculative and contingent on future commercial production at the non-core asset.
The divestiture removes a non-core distraction and generates minor capital, consistent with management’s guidance to focus on advancing the Mercur and Beartrack-Arnett projects. The transaction does not materially alter the company's core development thesis, funding runway, or near-term catalysts. The market likely priced in this divestiture upon the initial announcement, and the closing is viewed as an expected and incremental event.
Revival Gold Inc. (RVG) is a U.S.-focused gold exploration and development company advancing two primary assets: the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho.
Mercur is a past-producing Carlin-style gold system covering approximately 7,200 hectares. A Preliminary Economic Assessment (PEA) released in May 2025 outlines a 10-year heap-leach operation targeting approximately 95,600 ounces of gold per year, with an after-tax net present value (NPV) of $752 million at $3,000 per ounce of gold and an internal rate of return (IRR) of 57%. The company aims to release a Preliminary Feasibility Study (PFS) in the first quarter of 2027, with permitting expected by late 2027 and production targeted for 2029.
Beartrack-Arnett features a proven heap-leach operation and high-grade underground sulphide potential at the Joss target. A 2023 PFS outlined an eight-year open-pit phase with an IRR of 80%. Recent drilling has extended high-grade mineralization to approximately 850 meters in depth, supporting a potential second-phase underground operation.