Revival Gold Inc · TSXV:RVG
Revival Gold — Investor Presentation (January 2026)
40 slides from Revival Gold's investor presentation, January 2026
Slide 1: Pursuing a Revival in Gold
PURSUING A REVIVAL IN GOLD Corporate Presentation January 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: Pursuing a revival in gold
REVIVAL GOLD INC. Mercur, Utah Pursuing a revival 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 • Target production >160 koz gold p.a.2 Beartrack-Arnett, Idaho •
Slide 4: Capital Structure
CAPITAL STRUCTURE Basic Shares 272.7 M 9% Fully-Diluted Shares 321.8 M Mngmt & Advisors Share Price (Jan. 7th, ‘25) C$0.72 15% 22 oz High Net Worth 52 Week High/Low1 C$0.85/0.23 gold Approx. Avg. Daily Vol.1 +/-660,000 54% exposure Institutions & Corporate* Basic Market Cap C$196 M per 1,000 22% Est
Slide 5: Positioned in the Western U.S.
POSITIONED IN THE WESTERN U.S. A premier jurisdiction • Idaho and Utah rank among the Top-25 mining jurisdictions in the world1 • Supportive State governments and communities • Operational synergies with locally based team and proximity of assets TSX-V: RVG | OTCQX: RVLGF Note: 1Fraser Institute 202
Slide 6: Gold Resources
GOLD RESOURCES1 100% pure gold resources offering superior gold leverage Total Mineral Resources (Moz Au) 2.8 Inferred1 2.2 M&I1 3.2 2.4 0.6 0.8 B-A Mercur Combined Note: 1See “Preliminary Economic Assessment NI 43-101 Technical Report on the Mercur Gold Project, Tooele & Utah Counties, Utah, USA” p
Slide 7: Mercur
MERCUR TSX-V: RVG | OTCQX: RVLGF 7
Slide 8: 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 optioned2 • 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 p
Slide 9: 2025 PEA Highlights
2025 PEA HIGHLIGHTS1 One of few large undeveloped western U.S. gold projects 66 MT @ $208 M • Low capex given existing 0.60 g/T Au CAPEX infrastructure 95,600 $1,228/oz • Shallow open pit, heap leach operation Oz Au/Yr Cash Cost • Compelling metrics 10 Yr $1,385/oz • Advantageous permitting Mine Lif
Slide 10: Gold Price Sensitivity
GOLD PRICE SENSITIVITY1 Significant leverage to current higher metal prices LT Px Forecast2 Gold Price Downside Base Upside (US$/oz) ($2,175) ($3,000) ($4,000) NPV(5%) $295 M $741 M $1,270 M Post-Tax IRR 27 % 56 % 91 % Payback 3.6 yrs 1.7 yrs 1.1 yrs Notes: 1See “Preliminary Economic Assessment NI 4
Slide 11: 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 release dated November 17th, 2025.
Slide 12: Mercur Exploration Domains
MERCUR EXPLORATION DOMAINS Underexplored Carlin-Type system with proven high-grade Near surface potential on east limb; 4 km mineralized trend at MM U/G potential on west limb; 2/3rds of drilling < 100 meters deep TSX-V: RVG | OTCQX: RVLGF Source: Revival Gold 12
Slide 13: Mineral Resource
MINERAL RESOURCE1 A robust, pure gold, open pit, heap leach resource Category1 Tonnage (MT) Au g/T Gold (oz) • 280 km of drilling in 3,000 holes Indicated 35.3 0.66 746,000 • >50% in Indicated category Inferred 36.2 0.54 626,000 Note: 1See “Preliminary Economic Assessment NI 43-101 Technical Report
Slide 14: 2025 Drilling – RC & Core Holes
2025 DRILLING – 115 RC & CORE HOLES Focused on resource definition and expansion • 0.66 g/T Au weighted average intercept grade released to-date1 4 km trend • 78% weighted average AuCN/AuFA ratio to- date1 • 50 drill holes still to be released Select Drill Results Jan. 7th, 2026 TSX-V: RVG | OTCQX:
Slide 15: Expansion Opportunities
EXPANSION OPPORTUNITIES Proximal to existing resources • Downdip opportunities at Rover • New targets at Upper Rover Break, Northeast Rover, and Porphyry Ridge TSX-V: RVG | OTCQX: RVLGF 15
Slide 16: 2026 Key Next Steps
2026 KEY NEXT STEPS1 On fast track for potential re-development • Metallurgical column testing • +/- 20 columns in Q1-Q2 2025 / 2026 2027 • Baseline studies underway • Biological, cultural, hydrological • Additional RC and core drilling • 10-15 km beginning Q2 • PFS • Expected permitting timeline of
Slide 17: 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 18: 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 19: 2025 Drilling Program
2025 DRILLING PROGRAM Targeting southern extent of orogenic gold system along strike • Shear zone mineralized over 5.6 km of known strike and 750 meters elevation • Underground deposit already 6.7 MT at 4 g/T1 with highest grades at Joss • 3,900-meter core drilling program ongoing through Q1 Note: 1
Slide 20: Joss Underground Target – Cross-Sections
JOSS UNDERGROUND TARGET – CROSS–SECTIONS1 Panther Creek Panther Creek Fault Shear Zone Level Plan at 5500’ (~330 m below surface) 100 m 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”
Slide 21: The Path Forward
THE PATH FORWARD TSX-V: RVG | OTCQX: RVLGF 21
Slide 22: 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 23: NAV Summary
NAV SUMMARY1 The 2025 Mercur PEA more than doubled NAV5% from gold assets 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 “Preliminary Economic Ass
Slide 24: P/NAV Comparables
P/NAV COMPARABLES Precious Metal Operators P/NAV (~average 100koz Au per annum production) 1.0x Excellent value 0.8x at 0.1x P/NAV Median – 0.70x 0.6x P/NAV 172 koz 64 koz 88 koz 0.4x 139 koz 160 koz 65 koz 112 koz 115 koz 0.2x 119 koz 72 koz 0.1x 161 koz 0.0x Wesdome G Mining Steppe Gold K92 Mining
Slide 25: 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 16 M&I + Inferred M&I 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 26: Summary
SUMMARY Growth Scale Strong Backing Value & Catalysts • Initial 160 koz • Two multi-million- • >50% institutional • 0.10x P/NAV gold p.a. ounce pure U.S. and corporate valuation4 production with gold projects ownership including • Mercur advancing target >250 koz EMR Capital and to production gold p
Slide 27: 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 28: Appendix
APPENDIX TSX-V: RVG | OTCQX: RVLGF 28
Slide 29: People
PEOPLE Tim Warman – Non-Exec Chairman: Geologist and accomplished aspects of the resource industry, from exploration through feasibility, from development to operations. Former Key Leadership President & CEO of Fiore Gold. Robert Chausse – Director: Over 25 years of international Hugh Agro – CEO & D
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: Mercur Project Site
MERCUR PROJECT SITE1 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. 40,00
Slide 34: 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 35: Mercur Barrick Agreement
MERCUR BARRICK AGREEMENT Property interests include: • 996 net hectares (2,462 net acres) of mineral interests • Site roads, power, building infrastructure Key Terms (as amended): • Paid C$1 M and 4 M warrants @C$0.25/shr, exp. Jan ‘29 • Completed C$6 M work commitment • Option exercised December 22
Slide 36: 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 37: 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 38: 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 39: 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 40: 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