Velocity Trade Capital Report

Revival Gold Inc.
Potential for Mineralization Extension to the East
NEED TO KNOW
Released 11 holes from the Main Mercur target area (area of past mining); 65 more to follow. Average grade of results ~0.73 g/t Au (vs. Ind. grades of 0.66 g/t, Inf. grades of 0.54 g/t Au)
Trading at 0.16x P/NAV (incl. both assets), C$55 EV/oz M&I, C$29 EV/oz M&I, Inf.

Maintaining C$1.85/sh Target, Outperform Rating
We are maintaining our C$1.85/sh target and Outperform rating on Revival Gold Inc. (“Revival”)
after the company announced positive drill results from 11 holes (all in the Rover target area with
exception of one Sacramento target, Figure 1) at its PEA-ready Mercur Au project (100%, UT).
Mercur is a shallow oxide deposit and, as such, broader extensions can potentially translate
into resource/mine life expansion and lower extraction costs. The company is conducting a
total 13,000 m drill program of which 100 shallow holes have been completed thus far (35 holes
released) for 10,000 m (or 76% completion). The remaining 65 holes are expected to be… Read Full Report PDF

Paradigm Capital Report

Mercur Delivers More Shallow Oxide Hits; Early Signs of Pit Expansion Potential
Revival Gold released 11 additional drill holes from the ongoing 2025 drill program at the Mercur Gold Project (Utah). Results continue to confirm and locally upgrade the PEA oxide resource model while starting to demonstrate down-dip resource expansion potential beyond the current pit shell. The company has now completed 100 of ~130 planned holes (~10,000m of 13,000m) at Mercur, with drilling also active at… Read Full Report PDF