Revival Gold Announces C$30 Million Capital Raise

• Revival Gold Inc. announced a C$30 million capital raise via a "best efforts" private placement with Paradigm Capital Inc. as lead agent.
• Offering price set at C$0.85 per common share, representing approximately 35,295,000 shares issued.
• Net proceeds designated for exploration and development of the Mercur (Utah) and Beartrack-Arnett (Idaho) projects plus general working capital.
• Closing expected May 6, 2026, subject to regulatory approvals.
• Agent commission is 6.0% cash on gross proceeds.
• This follows a C$29 million financing closed in July 2025 with strategic investors EMR Capital and Dundee Corporation.

• The financing is expected given the company's timeline to complete a Pre-Feasibility Study (PFS) by Q1 2027 for the Mercur project.
• The offering price of C$0.85 trades at a slight discount to recent market levels ($0.90-$1.00 range in March/April 2026), indicating potential short-term pressure but validating management's need for liquidity.
• Capital is necessary to fund the drilling and metallurgical work required before the PFS, reducing immediate execution risk.
• However, this does not alter the fundamental capital requirement of C$208 million identified in the 2025 Preliminary Economic Assessment (PEA) for mine construction; further financing will likely be needed closer to production.
• The transaction is dilutive but aligns with previous strategic investor backing (EMR Capital, Dundee Corp.), suggesting continued institutional confidence.

• Company: Revival Gold Inc. (TSX-V: RVG).
• Flagship Project 1: Mercur Gold Project, Utah. A past-producing Carlin-style system with a PEA projecting ~95,600 oz Au/year over 10 years. Targeting production in 2029 after permitting and construction.
• Flagship Project 2: Beartrack-Arnett Gold Project, Idaho. Hosts an underground Inferred Mineral Resource of ~877,000 ounces gold. Currently in exploration phase with potential for heap leach or underground mining.
• Strategy: Advance brownfield assets to production using existing infrastructure and shallow open-pit/heap-leach techniques to minimize capex relative to greenfield projects.