Revival Gold Inc (RVLGF)

[NYBob]

Revival Gold Delivers Solid Phase One Preliminary Economic Assessment
72,000 ounces gold per year at $1,057 per ounce AISC with a 25% after-
tax IRR

Click to view a PDF of this release
Toronto, ON – November 17th, 2020 –

Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth-focused gold exploration and development company, is pleased to announce positive results from a Preliminary Economic Assessment (“PEA”) on the Company’s Beartrack-Arnett (“Beartrack-Arnett”) phase one heap leach gold project located in Idaho, USA.

Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights*

Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an initial seven-year mine life;
Pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61 million;
Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
After-tax NPV at a 5% discount rate (“NPV5%”) of $88 million and after-tax IRR of 25% at $1,550 per ounce gold increasing to a $211 million NPV5% and 49% IRR at $1,950 per ounce gold;
After-tax payback period of 3.0 years;
Lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho; and,
Excellent additional exploration potential as demonstrated by this season’s drill results and with over 10km of favorable geological structure to explore.
* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.

This PEA is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

For the purposes of this phase one PEA, only oxide and partially oxidized mineralization amenable to gold recovery using standard cyanide heap leach processing was evaluated representing less than a third of available mineralized material. Beartrack-Arnett also hosts a significant sulfide resource, much of which was not included in this PEA.

“This PEA supports Revival Gold’s plans to resume meaningful heap leach gold production from Beartrack-Arnett with low re-start capital and robust economics,” commented Hugh Agro, President and CEO. “Beartrack-Arnett ranks as one of the largest independently-owned undeveloped gold deposits in the United States. As a brownfield site, Beartrack-Arnett offers significant existing baseline environmental data, infrastructure, and operating history for Revival Gold to utilize. This should translate into shorter permitting timelines and lower technical and execution risk. Over the course of the next two years Revival Gold will continue with its exploration strategy to expand the resource base at Beartrack-Arnett while progressing the first phase heap leach project towards a production decision. We also intend to evaluate the potential for a second phase sulfide milling project so that we might fully realize the inherent value of all the gold resources identified at Beartrack-Arnett to-date.”

The PEA was prepared in accordance with National Instrument 43-101 (“NI 43-101”) by Wood plc (“Wood”) of Oakville, Canada and Boise, Idaho with an effective date of November 17th, 2020. The Company will file a technical report summarizing the PEA on www.revival-gold.com and on SEDAR at www.sedar.com in accordance with NI 43-101 within 45 days.

Conference Call

Management will host a conference call later today to discuss the results of the PEA. Call-in information below:

Scheduled Start: November 17th, 2020, 10:00 am EST
Call-In Number: 416-764-8658
Toll Free in North America: 888-886-7786
A replay of the conference call will be available for one week at 416-764-8691 or toll free in North America at 877-674-6060. Playback passcode 347502#.

Further Details

Table 1 below summarizes the key PEA technical and financial inputs and results.

Table 1 – Technical Inputs and Financial Assumptions

https://revival-gold.com/revival-gold-delivers-solid-phase-one-preliminary-economic-assesment/


https://revival-gold.com/


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