Revival Gold Inc · TSXV:RVG
Revival Gold — Investor Presentation (May 2026)
38 slides from Revival Gold's investor presentation, May 2026
Slide 1: Pursuing a Revival in Gold
PURSUING A REVIVAL IN GOLD Corporate Presentation May 2026 revival-gold.com TSX-V: RVG OTCQX: RVLGF
Slide 2: Cautionary Notes
Cautionary Notes availability and productivity of skilled labour; (xiv) the regulation of the mining industry by various governmental agencies, This presentation has been prepared by Revival Gold Inc. (“Revival Gold” or, the “Company”) for evaluation of the Company including permitting and environme
Slide 3: A unique opportunity in gold
REVIVAL GOLD INC. Mercur, Utah A unique opportunity in gold • Advancing multi-million-ounce brownfield gold assets in the U.S.1: • Mercur PEA-stage heap leach gold project in Utah • Beartrack-Arnett PFS-stage heap leach project in Idaho Beartrack-Arnett, Idaho • Target production >160 koz gold p.a.2
Slide 4: Capital Structure
CAPITAL STRUCTURE Basic Shares 313.6 M 9% Fully-Diluted Shares 360.5 M Mngmt & Advisors 14% Share Price (May 6th, ‘26) C$0.79 High Net Worth 52 Week High/Low1 C$1.14/0.44 Approx. Avg. Daily Vol.1 +/-640,000 61% Institutions 16% & Corporate* Basic Market Cap C$248 M Retail Est. Cash (May 6th, ’26) C$
Slide 5: The Right Leadership
THE RIGHT LEADERSHIP Executive leadership Experienced U.S. operating team Hugh Agro – CEO & Director Tim Barnett – GM Mercur, Utah Founder with over 30 years experience including EVP Experienced builder, manager and engineer with among Kinross, as well as with Placer Dome, & Deutsche Bank. others Co
Slide 6: An Outstanding Board
AN OUTSTANDING BOARD Independent, widely experienced, committed and engaged Tim Warman – Non-Exec Chairman: Geologist and Maura Lendon – Director: Over 25 years’ experience in the accomplished on all aspects of the resource industry, from mining and technology industries gained after initially explo
Slide 7: What's "Under the Hood"?
WHAT’S “UNDER THE HOOD”?1 $1.2 billion of NAV – reflects less than half the company’s resources Beartrack- Mercur Revival Gold NAV5%, After-Tax Arnett (2025 PEA) Total (2023 PFS) US$2,175 $226 M $295 M $521 M Gold US$3,000 $484 M $741 M $1,225 M Price US$4,000 $794 M $1,270 M $2,064 M Note: 1See “Pr
Slide 8: Positioned in the Western U.S.
POSITIONED IN THE WESTERN U.S. A premier jurisdiction • Idaho and Utah are established mining jurisdictions • Supportive host governments and communities • Operational synergies with locally based team and proximity of assets TSX-V: RVG | OTCQX: RVLGF 8
Slide 9: Gold Resources
GOLD RESOURCES1 100% pure gold resources offering superior gold leverage Total Mineral Resources (Moz Au) 19 oz gold 2.8 exposure 2.2 Inferred1 per 1,000 M&I1 shares 3.2 2.4 0.6 0.8 Beartrack-Arnett Mercur Combined Note: 1See “Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur
Slide 10: Mercur – First to Production
MERCUR – FIRST TO PRODUCTION TSX-V: RVG | OTCQX: RVLGF 10
Slide 11: Mercur Project
MERCUR PROJECT Salt Lake City Rebirth of a proven gold producer1 Bingham Canyon Mine • 7,200 ha property. Core claims 100% owned or optioned • 57 km from Salt Lake City, Utah • First “Carlin-type” gold deposit identified in the Western U.S. Mercur Gold Mines 1913 Barrick Mercur 1985 • Proven past pr
Slide 12: 2025 PEA Highlights
2025 PEA HIGHLIGHTS1 66 MT @ $208 M One of few large undeveloped 0.60 g/T Au CAPEX western U.S. gold projects 95,600 $1,385/oz • Low capex given existing Oz Au/Yr ASIC infrastructure 12 • Shallow open pit, heap leach 10 Yr 56% operation Mine Life IRR A/T • Compelling metrics • Advantageous permittin
Slide 13: Mercur Land Position
MERCUR LAND POSITION1,2 Note: 1See “Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA” prepared by Kappes, Cassidy & Associates, and RESPEC Company LLC, dated May 2nd, 2025 and Revival Gold news releases 2025 and 2026. 2See appen
Slide 14: Mercur Exploration Domains
MERCUR EXPLORATION DOMAINS Underexplored Carlin-Type system with proven high-grade Near surface potential on east limb; 4 km mineralized Main Mercur trend U/G potential on west limb; 2/3rds of drilling < 100 meters deep TSX-V: RVG | OTCQX: RVLGF Source: Revival Gold 14
Slide 15: Mercur Project Site
MERCUR PROJECT SITE Excellent access, existing services • Excellent topography, low elevation plant site • Site layout leverages extensive private land position • Paved road access & site office • 43.8 kV grid power; substation on site • Nearby water wells • 30 minutes drive from Tooele (pop. 40,000
Slide 16: Mercur Next Steps
MERCUR NEXT STEPS Advancing to potential gold production in 2029 • Robust metallurgical testing • +/- 20 columns by end of Q2 2026 • Baseline studies for permitting • Biological, cultural, hydrological, geochemistry, noise, and air in 2026 • RC and core drilling • 16 km kicked off in April for compl
Slide 17: Beartrack–Arnett – Our Founding Asset
BEARTRACK–ARNETT – OUR FOUNDING ASSET TSX-V: RVG | OTCQX: RVLGF
Slide 18: Beartrack-Arnett Project
BEARTRACK-ARNETT PROJECT PFS heap leach restart project, significant high-grade exploration potential • Key attributes1 • 100% owned or optioned2 6,300 ha Idaho property assembled 2017-23 • Infrastructure – gold plant, roads, power, workshops • Attractive 2023 PFS – 65,300 oz gold/yr over 8 yrs with
Slide 19: Beartrack-Arnett Land Position
BEARTRACK-ARNETT LAND POSITION1,2 Note: 1See “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. 2See Property Agreement
Slide 20: 2025-26 Drilling Program
2025-26 DRILLING PROGRAM Targeting southern extent of orogenic gold system • Shear zone mineralized over 5.6 km of known strike and >700 meters elevation • Underground deposit already 6.7 MT at 4 g/T1 with highest grades at Joss • 6,000-meter core drilling program with 2 rigs Note: 1See “Preliminary
Slide 21: Joss Underground Target – Long Section
JOSS UNDERGROUND TARGET – LONG SECTION TSX-V: RVG | OTCQX: RVLGF Note: 1See “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 d
Slide 22: Joss Underground Target – BT26-252D
JOSS UNDERGROUND TARGET – BT26-252D Photo 10.5 g/T gold over 7 meters within 6.37 g/T gold over 19 meters1, 2 1 1.5 m @ 9.03 g/t gold 1 2 3 4 5 2 1.5 m @ 9.39 g/t gold 3 1.5 m @ 13.85 g/t gold 4 1.5 m @ 10.90 g/t gold 5 0.9 m @ 8.56 g/t gold 1Drilled width; 2 See Revival April 20th, 2026, news relea
Slide 23: The Path Forward
THE PATH FORWARD TSX-V: RVG | OTCQX: RVLGF 23
Slide 24: Development Pipeline
DEVELOPMENT PIPELINE1 Phased approach to growth • Mercur 2 year • Production • High-grade • Expansion? permitting path growth with underground 300 to 95 koz p.a. addition of 65 sulphides heap leach gold koz p.a. next Annual Gold Production Objectives production Beartrack- Arnett Heap Leach Material
Slide 25: Producer vs Developer Valuations
PRODUCER VS DEVELOPER VALUATIONS Developers, and Revival Gold in particular, offers compelling value P / NAV vs Gold Peers1, 5 MC $US / resource oz vs Gold Peers 1,2,5 Revival Gold 0.13 x P/NAV Revival Gold $26/oz Developers (3) 0.55 x P/NAV US Developers (4) $100/oz vs gold Small Producers Small Pr
Slide 26: New U.S. Discoveries
NEW U.S. DISCOVERIES Ranking of the Largest New US Gold Discoveries Since 2010 20 1.0 g/T Au Revival Gold M&I + Inferred M&I 16 track record of discovery 12 Moz Au 8 0.3 g/T Au 1.1 g/T Au 1.6 g/T Au 0.4 g/T Au 0.3 g/T Au 4 1.6 g/T Au 9.3 g/T Au 0.5 g/T Au 0.6 g/T Au 0 Notes: (1) Source: S&P Capital
Slide 27: Revival Gold – A Unique Opportunity in Gold
REVIVAL GOLD – A UNIQUE OPPORTUNITY IN GOLD Growth Scale Strong Backing Compelling Value • Initial 160 koz • Two multi-million- • >60% institutional • 0.13x P/NAV gold p.a. ounce pure U.S. and corporate valuation4 production with gold projects ownership including • Mercur advancing target >250 koz •
Slide 28: Revival Gold Inc.
REVIVAL GOLD INC. 145 King St. W., Suite 2870 Toronto, Ontario M5H 1J8 info@revival-gold.com 416-366-4100 TSX-V: RVG OTCQX: RVLGF
Slide 29: Appendix
APPENDIX TSX-V: RVG | OTCQX: RVLGF 29
Slide 30: Mercur PEA Mineral Resource
MERCUR PEA MINERAL RESOURCE1 Indicated Mineral Resources Inferred Mineral Resources Project Area Tonnage Gold Grade Gold Tonnage Gold Grade Gold (kT) (g/T) (koz) (kT) (g/T) (koz) Main Mercur 28,629 0.63 581.0 33,179 0.53 567.0 South Mercur 6,670 0.77 165.0 3,066 0.60 59.0 Total Mercur 35,299 0.66 74
Slide 31: Mercur PEA Production Schedule
MERCUR PEA PRODUCTION SCHEDULE1 Typically generating 95,000 – 105,0000 ounces of gold per year Parameter Units Yr -1 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Totals Pit to Stockpile M tonnes 0.9 2.5 2.7 2.6 2.9 3.7 2.8 2.6 3.5 2.3 1.6 28.2 Pit to Crusher M tonnes - 4.3 4.0 3.9 4.2 5.4 2.8
Slide 32: Mercur PEA Mining & Processing
MERCUR PEA MINING & PROCESSING1 Proven approach, simple design • 18,100 T/d open pit, heap leach operation • 136-tonne Cat 785 haul trucks • 2.8 to 1 strip, 45 deg. pit slopes • 3-stage crush to half inch; no agglomeration; conveyor stacking • ADR plant, 75% average gold recovery, rapid leach kineti
Slide 33: PEA Capital Cost Summary
PEA CAPITAL COST SUMMARY1 Modest $208 million initial capex Description Costs ($ M) Pre-Production Capital Process & Infrastructure (including spare parts) $115 Mining Capital & Mining Pre-Production $33 Indirect & Owner's Costs $4 Engineering, Procurement & Construction Management $14 Contingency $
Slide 34: Beartrack-Arnett Mineral Resources
BEARTRACK-ARNETT MINERAL RESOURCES Mineral Resources Resource Type Location Resource Category Resource Grade Contained (KT) (Au g/T) (koz) Measured 6,743 1.03 224 Beartrack Indicated 18,781 0.77 466 Mineral Resource Inferred 2,694 0.51 45 Open Pit Heap Leach Measured 5,932 0.48 92 Haidee Indicated 1
Slide 35: Beartrack-Arnett Mineral Resources (cont'd)
BEARTRACK-ARNETT MINERAL RESOURCES (cont’d) Notes: 1) Gold price used for Mineral Resources: $1,900/oz 2) Gold grades are reported in grams per metric tonne (g/T) 3) Economic cutoff is based on Income Net of Process = $0.01/tonne. Income Net of Process = (Grade x Recovery x ($1,900 - $5)) – (Process
Slide 36: Beartrack-Arnett Mineral Reserves
BEARTRACK-ARNETT MINERAL RESERVES Mineral Reserves Deposit Mineral Reserve Category Resource Grade Contained (KT) (Au g/T) (koz) Proven 6,420 1.06 219 Beartrack Probable 15,600 0.82 413 Proven + Probable 22,020 0.89 632 Proven 5,933 0.48 92 Haidee Probable 8,244 0.51 136 Proven + Probable 14,177 0.5
Slide 37: Beartrack-Arnett Property Agreements
BEARTRACK-ARNETT PROPERTY AGREEMENTS Beartrack: • Revival Gold obtained the right to acquire Meridian Beartrack Co., a subsidiary of Pan American Silver Corp. and the owner of the Beartrack claims (approx. 3,300 ha) and associated infrastructure, in 2017. The terms (as most recently amended) are as
Slide 38: Revival Gold Inc.
REVIVAL GOLD INC. 145 King St. W., Suite 2870 Toronto, Ontario M5H 1J8 info@revival-gold.com 416-366-4100 TSX-V: RVG OTCQX: RVLGF