Drilling Returned High-Grade Intercepts At The Joss Target

TORONTO - Revival Gold Inc. reported results from the final drill hole completed in the Joss target area as part of the exploration program at the Beartrack-Arnett Gold Project located in Idaho. Drilling returned broad, high-grade intercepts which underscore the underground mining potential of this 1 km long zone at Beartrack-Arnett. 4.34 g/t gold over 110.6 meters including 12 g/t gold over 13.7 meters and 8.8 g/t gold over 11.8 meters1 in BT21-240D. BT21-240D intersected the Panther Creek Shear Zone (“PCSZ”) in the Joss target area at about 430 meters downhole (about 350 meters depth) mid-way along strike between drill holes BT21-237D and BT21-238D. Further analysis and interpretation are pending.

“This is a game-changing hole as it hosts the highest-grade gold intersections released to date from the Joss target area. With BT21-240D we are now beginning to see the full potential of the Beartrack-Arnett gold project”, said Hugh Agro, President & CEO. “The high grades and substantial widths of mineralized structure encountered in BT21-240D reinforce our enthusiasm for the project’s underground potential and the possibility of it being developed into a highly profitable and long-life mining operation. We have had a very high success rate drilling in the PCSZ along more than 5 km of strike and we look forward to the resumption of drilling at Joss in the new year.”

Five holes were drilled in the Joss target area in 2021. Holes BT21-237D, BT21-238D and BT21-240D all intersected mineralization within the PCSZ. Holes BT21-236D and BT21-239DB were abandoned before intersecting the PCSZ in post-mineralization Tertiary rocks due to difficult drilling conditions. However, drill hole BT21-239DB intersected fracture-controlled sericite alteration in metasediments of the Yellowjacket Formation, the host rock for mineralization in the Joss area. Geochemical analysis confirmed the presence of weakly anomalous gold and arsenic values before the hole encountered an unexpected post-mineral fault that may have displaced the continuation of Joss mineralization in this area. While the direction and amount of displacement is unknown at this time, this result suggests that mineralization may extend south along strike beyond current limits of drilling. The PCSZ is the main structure which hosted mineralization exploited by the previous Beartrack mining operation and, as such, Joss is close to existing infrastructure including powerlines, roads, and other site facilities.