Revival Gold Inc · TSXV:RVG
Revival Gold — Investor Presentation (August 2023)
48 slides from Revival Gold's investor presentation, August 2023
Slide 1: Pursuing a Revival in Gold
PURSUING A REVIVAL IN GOLD Corporate Presentation August 2023 revival-gold.com TSX-V: RVG OTCQX: RVLGF
Slide 2: Cautionary Notes
Cautionary Notes This document has been prepared by Revival Gold Inc. (“Revival Gold” or, the “Company”) for evaluation of the Company by the recipient. The information contained in this presentation is derived from estimates made by the Company, information that has been provided to the Company by
Slide 3: Revival Gold Inc. – A growth company in gold
REVIVAL GOLD INC. A growth company in gold • Advancing the Beartrack-Arnett Gold Project located in Idaho, USA1 • Largest past-producing gold mine in the state • Multi-million-ounce project; gold-only • Strong PFS economics on heap leach restart • Veteran gold team - track records of success with: •
Slide 4: Positioned in North America
POSITIONED IN NORTH AMERICA • 2nd largest gold-producing region in the world1 • Idaho is ranked among top jurisdictions in the world for policy by the Fraser Institute2 • 30 M ounce state endowment of undeveloped gold3 Note: 1World Gold Council ; 2Fraser Institute 2022 Survey of Policy Perception In
Slide 5: Beartrack-Arnett Project – 5,800 ha
BEARTRACK-ARNETT PROJECT – 5,800 HA TSX-V: RVG | OTCQX: RVLGF Note: See Revival Gold press releases dated July 11th, 2023, October 2nd, 2017, March 15th, 2022, and September 22nd, 2022, for additional details. 5
Slide 6: 2023 Resource Update
2023 RESOURCE UPDATE1 Key developments • 14% increase in M&I Mineral Resource to 2.4 M oz of gold2 • Including a 142% increase in open pit heap leach contained gold to 959,000 oz3 • 13% increase in Inferred Mineral Resource to 2.2 M oz of gold4 • Including 108,000 oz of open pit heap leach contained
Slide 7: 2023 Resource Update (cont'd)
2023 RESOURCE UPDATE (cont’d) 2nd largest new gold discovery in the US in a decade 12 0.3 g/t 10 Beartrack-Arnett Gold 8 Project M oz Au 6 1.1 g/t 0.8 g/t 4 1.6 g/t 0.3 g/t 0.4 g/t 2.0 g/t 0.8 g/t 2 9.9 g/t 0.5 g/t 0 Note: Fuse Advisors Inc., S&P Data. Gold only. Discovery defined as TSX-V: RVG | OT
Slide 8: Beartrack Trend – Over 5 km
BEARTRACK TREND – OVER 5 KM Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. TSX-V: RVG | OTCQX: RVLGF 8
Slide 9: Preliminary Feasibility Study (PFS)
PRELIMINARY FEASIBILTY STUDY (PFS) Open pit heap leach restart • Key metrics1 • 65,300 oz/yr over 8 yrs with $1,235/oz AISC • $109 M pre-production capex • $105 M after-tax NPV5% , 24.3% after-tax IRR at $1,800 Au • Brownfield site – limited new disturbance, low technical and permitting risk • Depos
Slide 10: PFS Economics
PFS ECONOMICS1 A Robust Low Risk Project $1,800/oz Gold PFS Base Case PFS (equivalent to consensus 2025-2027 gold price2) Base Case Avg Annual Production 65,300 oz Au/yr Pre-Production Capex $109 M Gold Price US$/oz $1,700 $1,800 $1900 LOM Sustaining Capex $100 M Life of Mine (LOM) 8.1 years NPV(5%)
Slide 11: Improving Restart Base Case
IMPROVING RESTART BASE CASE1 2020 PEA 2023 PFS Variance Cause/Explanation 506 koz 529 koz +23 koz • Solid growth in heap leach resource and LOM Recovered LOM Recovered conversion of Inferred to M&I. +5% Change Gold Gold $107 M • Little increase in pre-production capital (despite $109 M +$2 M high in
Slide 12: Strong Competitive Position
STRONG COMPETITIVE POSITION 2,500.00 450 US$ All-In Sustaining Cost / oz Au US$ Capex /oz Au Production 400 350 Weighted Avg. Capital Intensity 2,000.00 Weighted Avg. AISC $270/oz $1,450/oz 300 1,500.00 250 200 1,000.00 150 100 500.00 50 0 0.00 Note: Fuse Advisors sourced from S&P Capital IQ Pro, 20
Slide 13: Project Details
PROJECT DETAILS1 Modeled after prior operation • 12,000 tonnes/day open pit, heap leach operation; 90-tonne haul trucks • Modular 2-stage crush to -1.5 inch; no agglomeration; conveyor stacking • Utilizes existing infrastructure including access road, powerline, ADR plant and solution ponds • Averag
Slide 14: Production Schedule
PRODUCTION SCHEDULE1 Mine Life-of- Unit PP2 YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 Parameter Mine Mined Ore (tonnes ,000) 1,088 4,379 4,379 4,379 4,379 4,015 4,379 4,379 4,379 36,191 Mined Waste Rock (tonnes ,000) 3,538 13,490 13,490 13,490 13,519 8,710 8,673 8,801 4,031 88,058 Mined Total (tonnes
Slide 15: Capital Cost Summary
CAPITAL COST SUMMARY1 Costs Description ($,000) Pre-Production Capital Process & Infrastructure $56,820 Mining & Pre-Production $28,230 Indirect & Owner's Costs $4,258 EPCM $6,704 Contingency $11,067 Process Pre-Production $2,252 Total Pre-Production Capital $109,331 Working Capital & Initial Fills
Slide 16: Cash Flow Profile
CASH FLOW PROFILE1 $200,000 $150,000 After Tax Cash Flow ($,000) Excellant potential to grow $100,000 cash flow beyond Proven & Probable Reserves $50,000 $0 PP 1 2 3 4 5 6 7 8 9 10 11 12 -$50,000 Mine Operating Year -$100,000 -$150,000 Annual After Tax Cash Flow Cumulative After Tax Cash Flow Note:
Slide 17: Site Layout
SITE LAYOUT TSX-V: RVG | OTCQX: RVLGF Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. 17
Slide 18: Infrastructure Head Start
INFRASTRUCTURE HEAD START • Road access • Septic, fuel and water tanks • ADR gold plant & lab • Solution, storm water ponds • Low cost carbon friendly grid • Water treatment plant power TSX-V: RVG | OTCQX: RVLGF 18
Slide 19: Key Project Risks & Opportunities
KEY PROJECT RISKS & OPPORTUNITIES1 Risks • Gold price sensitivity and permitting delays • Estimated refurbishment costs may exceed plan • Limited excess capacity on powerline – first come first serve • Assumed leach tail recovery contributes approximately 11,000 ounces gold Opportunities • Deposit a
Slide 20: Next Steps
NEXT STEPS Proposed project schedule – subject to funding Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi TSX-V: RVG | OTCQX: RVLGF county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2
Slide 21: Exploration Upside
EXPLORATION UPSIDE TSX-V: RVG | OTCQX: RVLGF 21
Slide 22: Multiple Targets
MULTIPLE TARGETS 2 3 1 5 4 1 Higher-grade heap leach 2 Extensions to Haidee 3 New target 4 Extensions to Joss u/g 5 Extensions to SP u/g 22 22
Slide 23: 2023 Drill Program
2023 2 DRILL 3 PROGRAM Near surface oxides at Arnett 1 • Favorable setting & leach recoveries1 • Three targets2: 1) Roman’s Trench 2) Haidee 3) Ridge TSX-V: RVG | OTCQX: RVLGF Note: 1See Revival Gold press release dated September 6 th, 2022, 2See Revival Gold news release dated June 12 th, 2023, for
Slide 24: Haidee Deposit
HAIDEE DEPOSIT Satellite to the main Beartrack Mineral Resource See Revival Gold July 11th, 2023, press release for detailed results. 24 24
Slide 25: Haidee Deposit X-Section
HAIDEE DEPOSIT X-SECTION Remains open both up and down dip Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details.
Slide 26: Joss Target
JOSS TARGET 2022 drilling extended depth and scope1 Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap LeachRVG TSX-V: Project, Lemhi county, | OTCQX: RVLGF Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for
Slide 27: Joss Target
JOSS TARGET High-grade intersections in all 20 holes to-date1 • 1 km strike, 500 m vertical, high-grade core, broad halo of surrounding mineralization Average Intercept Drilled Grade Width (m) (g/t Au) Bulk Domain 45.5 2.8 Incl. High-Grade Domain 5.50 7.7 Arithmetic averages. TSX-V: RVG | OTCQX: RVL
Slide 28: Evolution of Beartrack Block Model
EVOLUTION OF BEARTRACK BLOCK MODEL Less than $6/ounce discovery cost to-date 2018 2020 2023 250 meters Note: 3D view looking down and to the N-W; Topo surface in grey; blocks shown in red are all above 0.20 g/t gold. See “Preliminary Feasibility Study NI 43-101 Technical TSX-V: RVG | OTCQX: RVLGF Re
Slide 29: Orogenic Gold Deposits
OROGENIC GOLD DEPOSITS Key Features: (1) large, (2) significant vertical extent, (3) consistent mineralogy • Canadian Malartic (Canada) • Kittila (Finland) • UG – 5.5 M oz Au at 4.7 g/t Au (historical) • UG – 4.1 M oz at 4.16 g/t Au (P&P) • OP – 6.4 M oz at 0.98 g/t Au • Macraes (NZ) • Natalka (Russ
Slide 30: ESG Snapshot
ESG SNAPSHOT Z Metrics Revival Gold • Committed to the safety and protection of our • Zero YTD’23 LTI people, the communities and the environment • Built/operated numerous within which we work mines • Experienced management team • Independent Chair • Independent Chairman and Board & Board, fully dis
Slide 31: Team
TEAM A veteran gold team that has a track record of delivering for investors Hugh Agro John Meyer Lisa Ross President & CEO VP Eng. & Devlp. VP and CFO B.Sc., MBA, P.Eng. (Non- and President, Revival B.Comm., CPA, CA Practising) Gold (Idaho) Inc. Accounting and finance Mining engineer and B.Sc. (Civ
Slide 32: TSXV: RVG OTCQX: RVLGF
TSXV: RVG Basic Shares 103.7 M Street Research OTCQX: RVLGF Fully-Diluted Shares 127.0 M Average Target Price Supports Significant Re-Rate Share Price (Aug. 10th, 2023) C$0.52 3% 10% PAAS 52 Week High/Low C$0.87/0.41 Mngmt & Approx. Avg. Daily Vol. +/-140,000 Advisors Basic Market Cap C$54 M 19% 44%
Slide 33: Relative Value - Ranked by Grade
RELATIVE VALUE - RANKED BY GRADE 2.00 Jr Gold M&A Trading at $8/oz 80.00 Historical Average relative to $65/oz 1.60 EV US$ / oz Total AuEq Avg Grade AuEq (g/t) average peer at 60.00 100% $22/oz and Gold 1.20 average 40.00 historical jr gold Peer Average 0.80 M&A at $65/oz. $22/oz 20.00 0.40 0.00 0.0
Slide 34: Revival Gold Inc.
REVIVAL GOLD INC. STRONG ADVANCING TOWARD CATALYTIC FOUNDATION… PRODUCTION… OPPORTUNITY… • Beartrack mine was the • C$4.5 million cash1 • Ongoing exploration, largest past gold • Proven technical and high-grade targets producer in Idaho operating team • Low capital intensity, • Significant “head sta
Slide 35: Revival Gold Inc. Contact
REVIVAL GOLD INC. 145 King St. W., Suite 2870 Toronto, Ontario M5H 1J8 HUGH AGRO | President & CEO MELISA ARMAND | Investor Relations info@revival-gold.com 416-366-4100 TSX-V: RVG OTCQX: RVLGF 35
Slide 36: Appendix
APPENDIX TSX-V: RVG | OTCQX: RVLGF 36
Slide 37: Board
BOARD Wayne Hubert Hugh Agro Rob Chausse Maura Lendon Non-Exec Chairman President & CEO Director Director B.Sc. (Chemical B.Sc. (Mining Engineering), B.Comm., CA B.A., LL.B, LL.M., MBA, Engineering), MBA MBA, P.Eng. ICD.D CFO, New Gold Inc. Former CEO of Andean Mining engineer and and former CFO, Mi
Slide 38: Property Agreements
PROPERTY AGREEMENTS Beartrack: Key terms with subsidiary of Yamana Gold (now Pan American) announced September 7th, 2017 (as amended and restated August 30th, 2022) • 1 MM shares and US$250,000 paid on announcement; further 3 MM shares to be paid over four years (all have now been issued) • US$15.0
Slide 39: Favourable Metallurgy
FAVOURABLE METALLURGY Oxide/Heap Leach Material • Beartrack previously operated as a heap leach mine • Processed at an average rate of 12,000 tpd of heap leach material with a 2-stage crush to minus 2-inch size • Recovery averaged 88% of cyanide soluble gold (approximately 70% of contained gold). •
Slide 40: 2023 Mineral Resource
2023 MINERAL RESOURCE1 Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. TSX-V: RVG | OTCQX: RVLGF 40
Slide 41: 2023 Mineral Resource (cont'd)
2023 MINERAL RESOURCE (cont’d)1 Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. TSX-V: RVG | OTCQX: RVLGF 4
Slide 42: 2023 Mineral Resource Statistics
2023 MINERAL RESOURCE STATISTICS1 Drill Hole Data Mineral Resource Classification Beartrack Arnett • Beartrack: (core & RC (only core holes • Open Pit Measured: ≤ 22.9 m (75 ft) Year & Company holes) used) • Open Pit Indicated: ≤ 38.1 m (125 ft) • Open Pit Inferred: ≤ 61 (200 ft) by 15.2 m (50 ft) b
Slide 43: 2023 Mineral Reserve
2023 MINERAL RESERVE1 Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. TSX-V: RVG | OTCQX: RVLGF 43
Slide 44: Joss Zone X-Sections
JOSS ZONE X-SECTIONS Note: See “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack-Arnett Heap Leach Project, Lemhi TSX-V: RVG | OTCQX: RVLGF county, Idaho, USA” prepared by Kappes, Cassidy & Associates, IMC, KCH and WSP dated August 2nd, 2023 for further details. 44
Slide 45: Kittila – Project Analogue?
KITTILA – PROJECT ANALOGUE? Beartrack Kittilä • Kittilä is Europe’s largest primary gold producer • Comparison to Beartrack: • Mineralization over +/5km trend, more complex geometry • Orogenic deposit, initially 1 mtpa, currently 2 mtpa u/g • Similar mill process, but with extra float step for Carbo
Slide 46: Haidee Deposit – AC18-13D
HAIDEE DEPOSIT – AC18-13D • Photo depicts 1.9 g/t gold over 6.1 meters1 2 4 1 0.38 g/t gold 2 5.32 g/t gold 3 0.75 g/t gold Quartz-FeOx veinlet with native Au in 4 1.15 g/t gold FeOx Note: 1See Revival Gold December 3 4th, 2018, press release for detailed results. 1 46 46
Slide 47: Joss Target – BT22-242D
JOSS TARGET – BT22-242D •Photo depicts 16.6 g/t gold over 4.5 meters within 3.5 g/t gold over 115.4 meters1 1 2 1 1.4 m @ 12.8 g/t Au 2 1.2 m @ 14.8 g/t Au 3 1.1 m @ 18.8 g/t Au 4 0.8 m @ 22.9 g/t Au Note: 1See Revival Gold September 3 4 22, 2022 press release for detailed results PCSZ with high gra
Slide 48: Revival Gold Inc. Contact
REVIVAL GOLD INC. 145 King St. W., Suite 2870 Toronto, Ontario M5H 1J8 HUGH AGRO | President & CEO MELISA ARMAND | Investor Relations info@revival-gold.com 416-366-4100 TSX-V: RVG OTCQX: RVLGF 48