Revival Gold delivers $88 million Net Present Value PEA

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Revival Gold Inc. [RVG-TSXV; RVLGF-OTCQB] has provided positive results from a preliminary economic assessment (PEA) on its Beartrack-Arnett Phase one heap leach gold project in Idaho.

Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights (US$)

Production of 72,000 ounces of gold/year for a total of 506,000 ounces of gold over an initial seven-year mine life.

Pre-production capital of $100 million and life-of-mine (LOM) sustaining capital of $61 million.

Total cash cost is $809/oz and all-in sustaining cost is $ 1,057/oz of gold.

After-t ax NPV at a 5% discount rate is $88 million and after-tax IRR is 25% at $1,550/oz gold increasing to a $211 million NPV5% and 49% IRR at $1,950/oz gold and an after-tax payback period of 3.0 years.

There is a lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho and excellent additional exploration potential as demonstrated by this season’s drill results and with over 10 km of favorable geological structure to explore.

This NI 43-101 compliant PEA is preliminary in nature; it includes inferred mineral resources considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

For the purposes of this Phase one PEA, only oxide and partially oxidized mineralization amenable to gold recovery using standard cyanide heap leach processing was evaluated representing less than a third of available mineralized material. Beartrack-Arnett also hosts a significant sulfide resource, much of which was not included in this PEA.

“This PEA supports Revival Gold’s plans to resume meaningful heap leach gold production from Beartrack-Arnett with low re-start capital and robust economics,” said Hugh Agro, President and CEO. “Over the course of the next two years Revival Gold will continue with its exploration strategy to expand the resource base at Beartrack-Arnett while progressing the first phase heap leach project towards a production decision. We also intend to evaluate the potential for a second phase sulfide milling project so that we might fully realize the inherent value of all the gold resources identified at Beartrack-Arnett to-date.”

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