Viva Gold drills 35.1 metres of 1.62 g/t gold at Tonopah Project, Nevada

Viva Gold Corp. [TSXV: VAU; OTCQB: VAUCF] has received the final assays for the last three drill holes in its 2026 spring reverse circulation (RC) drill program totalling 3,210 metres in 19 drill holes at its 100%-owned Tonopah gold project. Tonopah is located on the prolific Walker Lane mineral trend in western Nevada, an approximately 30-minute drive south of Kinross Gold’s Round Mountain mine.

These final assays complete a program that has materially expanded the gold footprint at Tonopah, both within and beyond the 2025 resource pit, and the results are now being incorporated into an updated resource model to underpin the company’s continuing prefeasibility study.

Highlights: Nineteen holes totalling 3,210 metres were completed in the 2026 spring RC program, with all results now being incorporated into an updated resource model to underpin the company’s prefeasibility study (PFS).

New Midway Hills discovery: TG2617 intercepted 35.1 metres at 1.62 g/t gold and 16.7 g/t silver (including 1.5 m at 18.4 g/t Au and 76.9 g/t Ag) and bottomed in strong mineralization.

A three-hole fence at Midway Hills cut a major new gold zone in the Ordovician Palmetto Argillite (OPA), with grade and thickness increasing to the west; the discovery remains open in all directions.

Resource growth: Sixteen holes were drilled in the main pit area, 12 with significant intercepts and all returning anomalous gold above 0.15 g/t Au, developing a new zone of continuous mineralization on the southeastern side of the pit.

New high-grade intercepts were returned in areas previously classed as waste or inferred, supporting the conversion of inferred material to measured and indicated resources, and ultimately reserves, in the PFS.

James Hesketh, president and CEO, Stated, “Our 2026 drill program was an outstanding success. This program resulted in major new gold intercepts within the 2025 PEA resource shell in areas previously categorized as either waste or inferred mineralization. In the western portion of the resource pit, drilling returned one of the strongest holes drilled to date in this area.

“These combined results will potentially add to high-grade mineralization that can be mined early in mine life and are likely to convert inferred mineralization to measured and indicated status while also adding new zones of inferred mineralization.

“In the Midway Hills prospect area of the project, a three-hole fence of drilling discovered a major new zone of mineralization that is showing both increased thickness and gold grade to the west and remains open in all dimensions. These results are currently being rolled into our resource model to support our continuing PFS work on the project. This program demonstrates the robust nature of the Tonopah gold resource, along with the potential for increasing overall gold resources.”

Highlights – Midway Hills discovery area: Three vertical exploration holes totalling 628 metres were drilled in the Midway Hills prospect area that intercepted a major gold zone in OPA below prior drilling that had primarily targeted mineralization in overlaying tertiary volcanics (TVL):

TG2617 returned 56.5 metres at 1.13 g/t Au and 11.3 g/t Ag in three zones commencing at 157 metres depth, including 35.1 metres at 1.62 g/t Au and 16.7 g/t Ag, which included 1.5 metres at 18.4 g/t Au and 76.9 g/t Ag, starting at 202.7 metres depth in the OPA. This hole bottomed at 238 metres depth in strong mineralization.

TG2616 (reported July 1, 2026) returned 38.1 metres at 0.89 g/t Au and 6.78 g/t Ag, including 6.1 metres at 3.56 g/t Au and 22.45 g/t Ag from 179.8 metres depth in OPA.

TG2618 intercepted anomalous gold in the range of 0.1 to 0.2 g/t Au, including 1.5 metres at 1.2 g/t Au. TG2618 intercepted OPA at 56 metres depth.

These three holes were drilled on a 240-metre line trending in an east-west direction at an azimuth of approximately 110 degrees. In sequence, these three holes display increasing gold grades and thicknesses in a westerly direction. TG2617 and TG2616 are offset by 100 metres, demonstrating potential continuity of mineralization in this area of the OPA. Other than sporadic reconnaissance drilling, TG2617 is the most westerly drill hole in the Tonopah database. The width of the Midway Hills discovery zone was not defined by this drilling, and mineralization remains open to depth and in a westerly dimension.

The next phase of work for Midway Hills will include a compilation of all existing geophysical and drilling data, including CSAMT (controlled-source audio-frequency magnetotelluric) data collected in early 2026, to determine potential follow-up targets. This work will include identification of areas where the underlying OPA have been uplifted to better define shallow target potential.

A total of 2,582 metres was drilled in 16 holes in the main pit area, with 12 of these holes reporting significant drill intercepts and all holes producing anomalous gold intercepts above 0.15 g/t Au. This program was designed to expand and infill gold mineralization, with the goal of upgrading inferred resources to a level that supports conversion to mineral reserves in the PFS.

A new zone of continuous mineralization along the southeastern portion of the main pit area was developed. These 16 holes have been added to the resource model and resource development work is under way.

Viva Gold’s Tonopah gold project is located within a large land position in established gold-mining country on the prolific Walker Lane structural trend in western Nevada, an approximately 30-minute drive south of Kinross Gold’s Round Mountain mine.

Viva has defined a high-confidence gold mineral resource and has demonstrated the potential for an economically viable open-pit, heap-leach/mill gold project through its 2025 preliminary economic assessment (PEA). A PFS has been initiated on the project, with a final report due in fourth quarter of 2026.

Viva Gold has approximately 172 million shares outstanding.