Revival Gold Reports Interim Results on Mercur Column Leach Testing Program

Metallurgical tests show strong gold recovery in oxides, but economics remain unaddressed.

Risk flags

• ●The absence of economic, financial, or resource data means investors cannot assess whether these metallurgical results will translate into a viable project. Without cost, revenue, or reserve figures, the technical progress remains disconnected from investment outcomes.
• ●All results are preliminary and explicitly subject to change pending tail assay reconciliation this fall. There is a material risk that final extraction rates or process parameters could differ from the interim data, affecting future project assumptions.
• ●Promotional language such as 'one of the largest, pure gold mine developers in the United States' is not substantiated by any numerical data or peer comparison, raising concerns about the reliability of non-technical claims.

Bottom line

This update provides detailed technical progress on metallurgical testing at the Mercur Project, with strong gold recoveries in oxide material but more modest results for refractory ore. The evidence is robust for test procedures and extraction rates, but the lack of any financial, resource, or economic data means the investment case remains unproven. Claims about the company's size and project advancement are not backed by numbers. Investors have no basis to assess project economics or timeline beyond the stated goal of a Prefeasibility Study by the end of Q1 next year. The most important takeaway is that while technical de-risking is underway, no actionable investment conclusions can be drawn until economic results are disclosed.

Announcement summary

(TSXV: RVG) (OTCQX: RVLGF) Revival Gold Inc. provided an update on metallurgical column leach testing in support of a Prefeasibility Study on the Mercur Project located in Utah, U.S.A. Kappes, Cassiday & Associates completed metallurgical testing on eleven composites from half PQ core samples collected during the 2025 field season from Main and South Mercur. The composites were used to develop 18 column leach tests at crush sizes ranging from 100% passing 6.3 mm (0.25 inch) to 37.5 mm (1.5 inch). Average leach extractions to date for the nine oxide material columns are 81% for gold and 16% for silver, while average leach extractions for the nine refractory material columns are 43% for gold and 31% for silver. Column leaching was initiated at various dates during May, June, and July and is ongoing. Results to date are preliminary and will be reconciled when tail assays from the columns are available following completion of the program this fall. Plans for additional PFS metallurgical testing are ongoing. Technical information was reviewed and approved by Mr. John Meyer, P.Eng., Executive Vice President, Engineering and Development for the Company.

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