Revival Gold Inc.

Revival Gold Inc. is a junior gold development company headquartered in Toronto, Canada, operating primarily in USA. The company's portfolio consists of 3 projects, comprising 2 development and 1 advanced exploration project. Key assets include Beartrack-Arnett and Mercur. The company operates as a pure-play mineral developer focused on advancing brownfield sites toward production. Its business model centers on leveraging significant existing infrastructure from past-producing operations, a strategy intended to reduce initial capital expenditures and mitigate development risks. A key operational characteristic is the pursuit of a capital-efficient, phased production growth plan. The enterprise aims to achieve synergies through a recently expanded asset base, which allows for the sharing of management resources and the application of cross-project technical expertise in studies, permitting, and de-risking activities. This approach is designed to lower overall risk and create incremental value as the business expands. The organization currently generates no revenue from operations and is dependent on its ability to secure financing to fund its development activities and meet its corporate obligations. The competitive strategy involves creating a larger-scale development entity to enhance its market profile and accelerate its timeline to becoming a mid-tier producer.

Strategic priorities are centered on a phased development approach designed to systematically de-risk assets and manage capital exposure. Near-term objectives involve advancing engineering and economic studies, including the completion of a Preliminary Economic Assessment and ongoing metallurgical column leach tests to refine processing parameters. The organization plans to initiate work on a draft Plan of Operations to advance permitting readiness. Resource delineation and expansion efforts are supported by focused field work, including geological mapping, surface sampling, and geophysical surveys such as gradient-induced polarization and ground magnetics to refine exploration targets. A comprehensive review of historical data is also underway to develop robust geo-metallurgical models. The long-term vision is to transition into a mid-tier producer. Capital allocation is managed dynamically, with management prepared to adjust expenditures based on exploration outcomes, working capital levels, and prevailing market conditions. The company also routinely evaluates various business development opportunities, including property options, acquisitions, and divestitures, to optimize its portfolio.

Executive leadership includes experienced technical personnel designated as Qualified Persons who provide direct oversight for engineering, development, and exploration activities. The governance framework includes a board of directors with a Chairman. The company's policies require directors who serve on the boards of other entities to disclose any potential conflicts of interest and abstain from voting on related matters. As a venture issuer, the organization's certifying officers do not make formal representations relating to the establishment and maintenance of disclosure controls and procedures or internal control over financial reporting. The corporate structure relies on a few key management personnel to direct its exploration and development activities. As of June 30, 2024, directors and officers of the company collectively controlled approximately 9.0% of the total common shares outstanding, indicating a degree of alignment between management and shareholder interests. The company has also established relationships with external consulting engineering firms to support its technical assessments and studies.

The organization's activities are subject to a wide range of government laws and regulations concerning environmental protection, which are noted to be continually evolving and becoming more restrictive. Its environmental management approach is centered on compliance with these regulations to mitigate risks and liabilities. The company is required to obtain various permits for its exploration, closure, and reclamation activities, which necessitates adherence to stringent environmental standards and laws. To secure future clean-up obligations associated with its exploration work, the enterprise has a reclamation bond in place with a surety bond company, as required by regulatory authorities. The company's operations are also governed by regulations for the protection of historic and archaeological sites as well as endangered and protected species. Management has stated that it does not believe there are any significant environmental obligations requiring material capital outlays in the immediate future and does not maintain specific environmental liability insurance.

In 2024, the company completed a significant business combination by acquiring all issued and outstanding shares of Ensign Minerals Inc. through a statutory three-cornered amalgamation. This transaction resulted in Ensign Minerals Inc. becoming a wholly-owned subsidiary and its asset-holding entity, Ensign Gold (US) Corp, becoming an indirect subsidiary. A special-purpose entity, Revival Gold Amalgamation Corp., was incorporated to facilitate the transaction. The company holds an option to acquire a 100% interest in Meridian Beartrack, a subsidiary of Meridian Gold Company, which is wholly owned by Pan American Silver Inc. This earn-in agreement, most recently amended on August 30, 2024, involves share issuances and funding exploration and site maintenance costs, with the amendment providing a 3-year extension to the earn-in period and modifying future royalty terms. In August 2023, the organization terminated a 1% net smelter return royalty on the Hai & Gold Bug Claims through a combination of a cash payment and the issuance of 200,000 common shares. The company also holds a 51% interest in the Diamond Mountain phosphate project, the value of which has been impaired due to a change in corporate focus.