Revival Gold Consolidates Mercur Gold Project by Exercising Option To Acquire 100% of Barrick's Interest

Core Viewpoint - Revival Gold Inc. has exercised its option to acquire 100% of Barrick Mining Corporation's interest in the Mercur Gold Project, a significant step towards restarting production [1][4]. Group 1: Acquisition Details - The Option Agreement covers mineral interests of 996 hectares, expanding the total Mercur project area to approximately 7,200 hectares [2]. - Revival Gold must incur at least C$6 million in exploration expenditures before January 2, 2026, which has been completed [5]. - The acquisition involves a membership interest purchase agreement (MIPA) with Barrick, with payments structured as US$5 million at closing and US$5 million on each of the first three anniversaries of commercial production [5][6]. Group 2: Economic Assessment - A Preliminary Economic Assessment (PEA) completed in mid-2025 indicates a life-of-mine average production of 95,600 ounces of gold per year over a 10-year mine life [3][8]. - The after-tax NPV is projected at $294 million at a 5% discount rate with a gold price of $2,175 per ounce, increasing to $752 million at a gold price of $3,000 per ounce [8]. Group 3: Project Development and Timeline - Revival Gold is planning a pre-feasibility study in 2026 and is initiating the state mine permitting process in Utah [3]. - Mine permitting is expected to take about two years to complete [8]. - The closing of the acquisition is anticipated around April 1, 2026, subject to regulatory approvals and other customary conditions [6]. Group 4: Company Overview - Revival Gold is one of the largest pure gold mine developers in the United States, focusing on the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho [11].