Revival Gold Corporate Presentation

38
PURSUING A REVIVAL IN GOLD 5 th October 2020 TSX-V: RVG OTCQB: RVLGF revival-gold.com Corporate Presentation

Transcript of Revival Gold Corporate Presentation

Page 1: Revival Gold Corporate Presentation

PURSUING A REVIVAL IN GOLD

5th October 2020

TSX-V: RVG

OTCQB: RVLGF

revival-gold.comCorporate Presentation

Page 2: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

CAUTIONARY NOTES

2

Cautionary NoteThis 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 other parties, and otherwise publicly available information concerning the Company and does not purport to be all-inclusive or to contain all the information that an investor may desireto have in evaluating whether or not to make an investment in the Company. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needsof any particular investor. No person has been authorized to give any information or make any representations other than those contained in this presentation and, if given and/or made, such information or representations must not be reliedupon as having been so authorized. The information and opinions contained in this presentation are provided as at the date of this presentation. This presentation may not be reproduced, further distributed or published in whole or in part byany other person.The technical and scientific information in this document was reviewed and approved by Steven T. Priesmeyer, C.P.G., VP, Exploration and a Qualified Person under National Instrument 43-101. Neither the TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation.

Forward Looking StatementThis presentation includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals,including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,“would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actualevents, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this presentation includes, but is not limited to, theCompany’s objectives, goals or future plans, statements, completion of a financing, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement ofoperations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convertestimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, the inability to predict or counteract the potential impact of theCOVID-19 coronavirus on factors relevant to the Company’s business, including short-time and long-time effects of the COVID-19 coronavirus on supply chains, labour market and capital markets, delays in obtaining or failures to obtainrequired governmental, environmental or other project approvals including delays caused by the measures to counteract the spread and deal with the consequences of the COVID-19 coronavirus, political risks, uncertainties relating to theavailability and costs of financing needed in the future, changes in equity markets, including changes related to the impact of the COVID-19 coronavirus , inflation, changes in exchange rates, fluctuations in commodity prices, delays in thedevelopment of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s publicdocuments filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information,which only applies as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events or otherwise, other than as required by law.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred ResourcesThis presentation uses the terms "Measured", "Indicated" and "Inferred" Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and ExchangeCommission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred MineralResource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that allor any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically orlegally mineable.

Disclaimer to United States InvestorsThe securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S.Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Page 3: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

0

30

60

90

120

150

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021

Global Gold Discoveries (Moz) Global Gold Production (Moz)

“THE FED CAN’T PRINT GOLD”1

Increasingly rare and in demand

3

Fed balance sheet

$10 trillion by year end4

US$11 trillion

global bailout3

New sources of gold to feed

growing demand

increasingly rare.

Gap

2

Source: 1BofA Securities April 2020, 2S&P Global Major Gold Discoveries >1

MM oz Au), Paradigm Capital Inc., 3IMF, July 2020, 4Sprott Global Monitor

Negative US 10 yr

treasury yield4

Page 4: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

REVIVAL GOLD INC.

A growth company in gold

• Advancing the Beartrack-Arnett Gold Project

located in Idaho, USA

▪ Largest past-producing gold mine in the state

▪ Multi-million-ounce gold-only resource

• Unlocking exploration and development

potential

▪ Phase one PEA and 10,000 m drill program

underway

• Well positioned

▪ Veteran gold team backed by Orion Mine

Finance, fully funded program

4

Page 5: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

CAPITAL STRUCTURE

Strong institutional ownership

5

Basic Shares 71.2 M

Opts & Wrts 14.2 M

Fully-Diluted Shares 85.4 M

Cash (30th Sept. ‘20) C$12.5 M

Share Price (2nd Oct. ‘20) C$1.12

52-week Hi/Low

Avg. Daily Vol.

C$1.45/C$0.33

330,000

Basic Market Cap C$80 M

Street Research Mean Target Price

$1.90/share

40%Institutional*

6%YRI10%

Management

21%Retail

23%High Net Worth

*Institutional Investors include Orion,

Konwave, US Global, Adrian Day

Asset Mgmt, Delbrook

Source: Bloomberg and Yahoo Finance;

approximate volume Cnd. & US

Page 6: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

KEY LEADERSHIP

6

Hugh Agro

President & CEOB.Sc. (Mining

Engineering), MBA,

P.Eng.

Mining engineer and

executive. Former EVP,

Kinross Gold.

Adam Rochacewich

VP and CFOB.Comm., CPA, CA

Accounting and finance

professional. Work

experience with both

majors and juniors.

Pete Blakeley

General ManagerB.Sc. (Geological

Engineering)

Geological engineer,

former Site Manager,

Meridian Beartrack and

Chief Engineer, Andean

Resources.

Wayne Hubert

Non-Exec ChairmanB.Sc. (Chemical

Engineering), MBA

Former CEO of

Andean Resources.

Former senior

executive with

Meridian Gold Inc.

Debra Struhsacker

Sr. Permitting &

Government

Relations AdvisorB.A. (Geology &

French), M.Sc.

(Geology), C.P.G.

Hardrock mining

policy expert.

Steve Priesmeyer

VP ExplorationB.Sc. (Geology), M.Sc.

(Geology). C.P.G.

Geologist with

experience in projects

from grassroots

through feasibility. QP

for NI 43-101 TRs

Rodney Cooper

Sr. Technical AdvisorB.Sc. (Hon, Mining),

P.Eng., M.B.A., Acc.

Dir.

Senior mining executive

with operational,

technical, construction

and financial experience

in over 30 jurisdictions

worldwide.

Opal Adams

Permitting & NEPA

SpecialistB.Sc. (Geology),

M.Sc. (Geology)

Specialist in

permitting and

environmental

document

preparation with

extensive experience

in the Western US.

Page 7: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

POSITIONED IN NORTH AMERICA

7

N.A. is the 2nd largest gold-producing

region in the world1

Fraser Institute ranks Idaho ahead of

Ontario, Chile, Quebec, BC and

Yukon2

Source: 1World Gold Council ; 2Fraser Institute 2019 Survey of

Investment Attractiveness for exploration & mining.

Page 8: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK-ARNETT

Former producer – open pit, heap leach mine

produced 100,000 oz gold p.a. in 1990’s1

8

• Land position re-assembled in 2017-18

• RPA February 20202 resource:

▪ 10-15 ktpd heap leach and 20 ktpd mill scenario

▪ 1.35 million oz @ 1.16 g/t Au Indicated Resource

▪ 1.64 million oz @ 1.08 g/t Au Inferred Resource

• Sub-$5/oz gold finding cost to-date

• Pursuing phase one heap leach re-start and

follow-up large-scale mill operation

1See Revival Gold September 7th, 2017 press

release; 2See presentation pages 27-31 and

Revival Gold February 3rd, 2020 press release.

Beartrack

South Pit

Page 9: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

LAND POSITION – 5,400 HECTARES

9

1

2

3

4

2020 Drill Targets

Haidee

Between N. & S. Pits

Rabbit

Joss

1

2

3

4

Page 10: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

10

openopen

openopen

open

BEARTRACK - SIGNIFCANT POTENTIAL OVER +5 KM

Page 11: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK UNDERGROUND

Drill tested to 600 m at depth and open

• Higher grades at depth:

• 8.5 g/t Au over 2.7 m in South Pit area

• 6.6 g/t Au over 8.2 m, 6.7 g/t Au over 4.5 m, 8.8

g/t Au over 3.0 m

in Joss area

• 71 g/t Au over 9.8 m in the Ward’s Gulch area

(pictured right)

• RPA resource includes an initial bulk

underground component

11

open open

Cross Section

Page 12: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

EVOLUTION OF BEARTRACK BLOCK MODEL

12

1996with follow-up drilling

2018 with follow-up drilling

2020

3D view looking down and to the N-W; Topo surface in grey; blocks shown in red are all above 0.27 g/t

Au. See Beartrack-Arnett 43-101 TR dated February 21, 2020 for further details.

Expanding – limited only by drilling to-date

+50%

Page 13: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

TARGET RICH LAND POSITION

Aeromagnetic geophysical survey

13

See Revival Gold August 12th,

2019 press release for summary

of aeromagnetic results.

2 km diameter, shallow

(approx. 300-meter-deep)

magnetic high

at Haidee

Under-cover

structures at Rabbit

Page 14: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

ARNETT: OPPORTUNITIES BEYOND HAIDEE

Arnett soil geochemistry

14See Revival Gold press release dated November 21st, 2019 for further details.

Anomalous

gold in soils

Page 15: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 DRILLING PROGRAM

Arnett

15

See Revival Gold August 19th, 2020

press release for further details.

• Haidee expansion

• step-out drilling

(~3,000 m, 10-15

holes)

• Haidee in-fill

• resource upgrade

drilling (~2,000 m,

8-10 holes)

Page 16: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 DRILLING PROGRAM (cont’d)

Beartrack

16

See Revival Gold August 19th, 2020

press release for further details.

• Between North and South Pits (not shown)

• test continuity of PCSZ and for potential

oxides (total of ~2,000 m, 4-6 holes)

• Joss follow-up

• Follow-up BT18-211D with 7.5 g/t Au over

2.4 m, 5.4 g/t Au over 4.2 m and 5.1 g/t Au

over 4.3 m (total of ~1,000 m, 1-2 holes)

• Rabbit “blue sky” target

• undrilled and covered geophysical target

(~2,000 m, 2-4 holes)

Page 17: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

FAVOURABLE METALLURGY

17

Oxide/Heap Leach Material

• Beartrack previously operated as a heap leach mine

• Processed at 13,600 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)1.

• Arnett has been the subject of past test work including bottle-roll and column leach testing

by Kappes Cassidy and Meridian in the 1990’s2 with indicated gold recoveries of 73-93%

• 2019 bottle-roll tests conducted by SGS under RPA’s direction demonstrated gold extractions

of 85-95%. RPA has estimated a gold heap leach recovery of 75% for Arnett3

Sulphide/Mill Material

• Historical work on Beartrack sulphides by Hazen in 1990’s1

• Revival Gold’s 1st phase test work on sulphide material in 2018 by SGS indicated favourable

gold recoveries into rougher flotation concentrate3

• 2nd phase test work on sulphide material in 2019 by SGS under RPA’s direction with input

from John O. Marsden LLC achieved overall gold recoveries of 94-95%. Recoveries appear

independent of grind size from P80 107 µm to P80 147 µm. Mass pull was 12-13%3

• RPA recommended a flotation & POX flow-sheet and 94% recovery for Beartrack sulphides3

Notes: (1), (2) and (3) see Beartrack-Arnett 43-101 TR dated February 21, 2020 for further details.

Page 18: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK SITE

Offers “head start” on potential restart

of leach operation

• 32 miles by road from Salmon, Idaho

(population 3,100)

• 69 kva grid power to site (5-6 cents/kwh),

water, roads

• Leach ponds, ADR plant, cyanidation

permit, water treatment plant

• 11,000 sq. ft core facility

18

Existing

ADR Facility

Beartrack Site

/Grid Power

Page 19: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

ESG SNAPSHOT

19

Revival Gold

• Experienced management team that has built and operated mines

• Committed to the safety and protection of our people, the

communities and the environment within which we work

• Strong governance led by independent chair and board

Beartrack-Arnett Project

• Idaho ranked 8th worldwide by Fraser Institute1

• Beartrack-Arnett property dates to Idaho’s earliest frontiersmen

• History of responsible operation as Idaho’s largest gold producer

• Brownfield site with existing infrastructure, lower start-up risk

• Local support for responsible mining in Lemhi County and Idaho

Source: 1Fraser Institute 2019 Survey of Investment

Attractiveness for exploration & mining.

Page 20: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

WHAT IS NEXT?

Building a great growth company in gold

20

BEARTRACK-

ARNETT

CORPORATE

DEVELOPMENT

2020 2021

Assessing Complementary Consolidation Opportunities

Priority Drill Targets

Haidee, Rabbit, Joss,

between N. & S. Pits

Heap Leach

Re-start PEA

Environmental,

Drill Permitting

Studies & Planning

Resource

Expansion

Drilling

Updated

Resource

Released

Feb. ‘20

20

PFS ?

20

$15 million

equity

financing

Aug. ‘20

Page 21: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

RELATIVE VALUE

21

Source: RBC Capital Markets July 2020 and Beacon

Securities August 2020 annotated by Revival Gold.

GSV

ITR

MAX

WKM

RVG

MOZ

SPA

GPY

NHK

0

20

40

60

80

100

0 0.5 1 1.5 2 2.5

EV U

S$/o

z M

&I+

I

Grade g/t AuEq

Bubbles equate toM&I+I resource size

Select North American Non-Producers

Pure Gold

Gold Eqvlt.

Average take-over Since 2013US$64/oz

Near-Term Catalysts:• Resource expansion• “Blue sky” at Rabbit• Heap leach PEA

Page 22: Revival Gold Corporate Presentation

REVIVAL GOLD INC.

22

FAST

TRACKING …

• Veteran gold team

• Fully funded exploration

program

• Phase one PEA and

10,000-meter drill

program underway

• Brownfield site

• Largest past producer in

Idaho

• Significant “head start” with

infrastructure

PROVEN

PROPERTY…

• Gold price on the rise

• Growing interest in

N. American gold assets

• Attractive valuation of

US$16/oz Au1

COMPELLING

OPPORTUNITY…

TSX-V: RVG | OTCQB: RVLGF Note: 1Revival Gold estimate as at October 2nd, 2020.

Page 23: Revival Gold Corporate Presentation

23

REVIVAL GOLD INC.

145 King St. W., Suite 2870

Toronto, Ontario

M5H 1J8

HUGH AGRO | President & CEO

ADAM ROCHACEWICH | CFO

[email protected]

416-366-4100

TSX-V: RVG

OTCQB: RVLGF

revival-gold.com

Page 24: Revival Gold Corporate Presentation

APPENDIX24

Page 25: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BOARD

25

Hugh Agro

President & CEOB.Sc. (Mining

Engineering), MBA,

P.Eng.

Mining engineer and

executive. Former EVP,

Kinross Gold.

Carmelo Marelli

DirectorCPA, CA, CGA

Principal, Marelli

Support Services.

Highly accomplished

business and

accounting services

professional.

Don Birak

DirectorB.Sc., M.Sc. (Geology)

Former SVP, Coeur

Mining and VPX

AngloGold NA. Fellow

of AusIMM, SME

Regis. Mem., QP for NI

43-101 TRs.

Wayne Hubert

Non-Exec ChairmanB.Sc. (Chemical

Engineering), MBA

Former CEO of

Andean Resources.

Former senior

executive with

Meridian Gold Inc.

Rob Chausse

DirectorB.Comm., CA

CFO, New Gold Inc.

and former CFO,

Richmont Mines Inc.

Senior mining

executive.

Mike Mansfield

DirectorCPA, CA, CFA

VP and Investment

Advisor with Industrial

Alliance Securities.

Extensive public

markets expertise with

venture companies.

Maura Lendon

Director NomineeB.A., LL.B, LL.M.,

MBA, ICD.D

Internationally

experienced mining

executive and general

counsel. Previously

with HudBay Minerals

and and Primero

Mining.

Page 26: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

PROPERTY AGREEMENTS

26

Beartrack: Key terms with subsidiary of Yamana Gold announced September

7, 2017 (as amended May 8, 2019 and May 20, 2020)

• 1 MM shares and US$250,000 paid on close; further 3mm shares to be paid over four years (all have now been issued)

• US$10.0 MM in exploration over five years to September 29, 2022; including US$6.0 MM by September 29, 2020 (of

which US$6.2 MM had been expended by June 30th, 2020)

• Funding site/reclamation costs in year five of the Agreement (approx. US$700,000)

• Payment of the greater of US$6/oz of resource or US$15/oz in reserve in year seven (2024) with 1.50% NSR, 0.50%

capped at US$2 MM

• Assume bonding and remaining site reclamation obligations on close of acquisition

Arnett: Terms announced June 30, 2017 (as amended April 9, 2020).

Additional properties acquired and announced on July 24, 2018

• As at May 2020, remaining property acquisition payments for a 100% interest in all Arnett properties total US$1.0

MM (being US$250,000 in each of June 2021 and June 2022 and US$500,000 in June 2022)

• Various NSRs apply ranging from 1% to 2% with buy-back rights for all totalling US$4MM

Page 27: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK-ARNETT 2020 RESOURCE

27

Notes on next page; see Beartrack-Arnett RPA TR

dated February 21st, 2020 for further details.

Page 28: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK-ARNETT 2020 RESOURCE (cont’d)

28

1 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves dated May 10, 2014 (CIM (2014) definitions) were used for Mineral Resource classification reported in this press release. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

2 Mineral Resources were tabulated for model blocks with positive net value that lie within an optimized conceptual pit. Table 2 summarizes the various economic parameters that were used to generate the Mineral Resource pit. The price, recovery and cost data translate to a breakeven gold cut-off grade of approximately 0.52 g/t gold and 0.17 g/t cyanide soluble gold for mill and heap leach respectively for the open pit at Beartrack, a breakeven gold cut-off grade of approximately 1.3 g/t gold for the incremental underground mill option at Beartrack, and approximately 0.19 g/t gold for heap leach at Arnett. The cut-off grades include considerations of metal price, process plant recovery, mining, processing and general and administrative costs.

3 Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content. The estimate of mineral resources may be materially affected by geology.

4 The effective date of the mineral resource estimate is December 10, 2019. 5 Heap Leach material at Beartrack defined by cyanide soluble grade leach characteristics.

See Beartrack-Arnett RPA TR dated February 21st, 2020 for further details.

Page 29: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

29

Notes on page 28; see Beartrack-Arnett RPA TR

dated February 21st, 2020 for further details.

2020 RESOURCE: PARAMETERS

Page 30: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 RESOURCE: GOLD PRICE SENSITIVITY

30

Notes on page 28; see Beartrack-Arnett RPA TR

dated February 21st, 2020 for further details.

Assumed Gold

Price ($US/oz Au)

Resource Category2

Tonnes (‘000)

Gold Grade

(g/t Au)

Contained Gold

Ounces (‘000)

$1200 Indicated 33,652 1.21 1,307

$1300 Indicated 35,062 1.18 1,331

$1400 Indicated 36,416 1.16 1,353

$1500 Indicated 37,455 1.14 1,368

$1600 Indicated 38,678 1.12 1,387

$1200 Inferred 38,633 1.14 1,420

$1300 Inferred 43,271 1.11 1,542

$1400 Inferred 47,189 1.08 1,638

$1500 Inferred 49,794 1.06 1,691

$1600 Inferred 53,921 1.03 1,787

Page 31: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 RESOURCE: PARAMETERS (cont’d)

31

1 Gold grades based on cyanide soluble analysis methods. Equivalent to approximately 70% of contained gold. 2 Gold grades based on fire assay methods.

3 US$0.50/tonne and US$1/tonne processed G&A for incremental underground and open pit resources respectively. 4 Beartrack: 37o for Tertiary rocks, dikes, faults & backfill; 45o for Yellowjacket Fm. & Rapakivi Granite. Arnett: 50o.

See Beartrack-Arnett RPA TR dated February 21st, 2020 for further details.

1 Base case cut-off grades at US$1,400/ounce gold are approximately 0.517 g/t gold and 0.17 g/t cyanide soluble gold for mill and heap leach respectively for Beartrack and approximately 0.193 g/t gold for heap leach for Arnett. Heap leach cut-off grade varies as does mill cut-off grade based on gold price.

2 Includes both heap leach and mill material.

2020 RESOURCE: GOLD PX SENSITIVITY (cont’d)

Page 32: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 RESOURCE: STATISTICS

32

Drill Hole Data

Geostatistics

• Mineral Resources estimated using Inverse Distance Squared (ID2). At Beartrack, ID2 numbers compared favorable with

Inverse Distance cubed (ID3) and Ordinary Kriging. At Arnett ID2 numbers compared favorably with Nearest Neighbor method

• Blocks measure 6.1 m (20 feet) in each direction

• Drill hole spacing:

• Indicated Resource: approximately 30 meters (100 feet)

• Inferred Resource: approximately 60 meters (200 feet)

Beartrack (core & RC holes) Arnett (only core holes used)

Number Meters Number Meters

Pre-2012 (Meridian) 471 64,084 11 1,337

Post-2012 (Yamana & RVG) 53 22,625 28 4,758

Total 524 86,709 39 6,095

… includes core holes 226 39

… of which RVG drilled (‘17-’19) 32 11,866 28 4,758

See Beartrack-Arnett RPA TR dated February 21st, 2020 for further details.

Page 33: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 RPA RESOURCE BLOCK MODEL

Beartrack +5 km trend – multiple targets

33

Open

at depthOpen at depth and

south along strike

NORTH PITSOUTH PIT

JOSS

WARD’S

GULCH

MOOSE

Open

at depth

Beartrack 3D Block Model – N-W ViewBlocks By Grade Shown

?Open north

& along

strike

US$1400 Au Resource Pit

Shell (0.52 g/t Au cut-off)

0.75 to < 1.0 g/t Au

0.52 to < 0.75 g/t Au

1.0 to < 1.5 g/t Au

> 1.5 g/t Au

See Beartrack-Arnett 43-101 TR dated February 21, 2020 for further details.

Open

Page 34: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

2020 RPA RESOURCE BLOCK MODEL (cont’d)

Leach and Mill Resource Distribution

34

SOUTH PIT

NORTH PIT

JOSS

Leach Material

Mill Material

3D Block Model – N-W ViewBlocks By Destination Shown. Not to Scale.

MOOSEWARD’S

GULCH

HAIDEE

(satellite deposit)

See Beartrack-Arnett 43-101 TR dated February 21, 2020 for further details.

Page 35: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK X-SECTIONS

South Pit X-Section Joss X-Section

35

North-East ViewNorth-East View

See Beartrack-Arnett 43-101 TR dated February 21, 2020 for further details.

Page 36: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

BEARTRACK - SOUTH PIT ZONE CORE

36

BT17-204D

78.3 m to 81.1 m 4.07 g/t Au

Yellowjacket Formation

(metasedimentary unit), oxide zone

BT17-203D

101.6 m to 103.4 m 3.97 g/t Au

Mylonitized Rapakivi Granite, (also known

as Quartz Monzonite), sulfide zone

Page 37: Revival Gold Corporate Presentation

TSX-V: RVG | OTCQB: RVLGF

1 3

ARNETT - HAIDEE ZONE CORE

37

1. 0.38 g/t Au

2. 5.32 g/t Au

3. 0.75 g/t Au

4. 1.15 g/t Au

6.1 m @ 1.9 g/t Au from

54.9 m to 60.0 m

AC18-13D

2 4

Page 38: Revival Gold Corporate Presentation

38

REVIVAL GOLD INC.

145 King St. W., Suite 2870

Toronto, Ontario

M5H 1J8

HUGH AGRO | President & CEO

ADAM ROCHACEWICH | CFO

[email protected]

416-366-4100

TSX-V: RVGOTCQB: RVLGF

revival-gold.com