PEA Commences On The Beartrack-Arnett Heap Leach Project

TORONTO – Revival Gold Inc. has commenced work on a Preliminary Economic Assessment (PEA) for the first phase heap leach component of the Beartrack-Arnett Gold Project. The company engaged Wood plc as lead consultant for the PEA. Environmental and mine permitting input will be provided by Bozeman, Montana-based KC Harvey Environmental, LLC, and the project will be managed by Rodney Cooper, P.Eng., the Company’s Senior Technical Advisor. PEA completion is expected by year-end 2020.

“Beartrack-Arnett offers the potential for a relatively efficient resumption of heap-leach gold production from the project’s existing operational footprint and infrastructure,” said Hugh Agro, President & CEO. “We are delighted to be in a position to take this next step in the evaluation of Beartrack-Arnett’s heap leach potential while, at the same time, continuing to progress exploration at the project for both heap leach and mill material,” Agro added.

Beartrack-Arnett is the largest former producing gold mine in the State of Idaho. The project is gold-only and hosts an Indicated Mineral Resource of 36.4 million tonnes at 1.16 g/t gold containing 1.35 million ounces of gold and an Inferred Mineral Resource of 47.2 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Within the Indicated Mineral Resource and Inferred Mineral Resource, Beartrack-Arnett hosts 14.2 million tonnes at 0.58 g/t gold containing 264,000 ounces of gold and 18.3 million tonnes at 0.54 g/t gold containing 316,000 ounces of gold, respectively, of heap leach material.