Revival Gold (TSXV:RVG) has released a new update on ongoing exploration drilling at its Beartrack-Arnett Gold Project in Idaho, outlining recent drilling activity, geological observations, and planned next steps, alongside a separate disclosure regarding a market-liquidity services agreement.

The Beartrack-Arnett Gold Project is located in Idaho, United States, and is one of two primary assets being advanced by Revival Gold, which is also developing the Mercur Gold Project in Utah. The latest update was provided by Hugh Agro, President and Chief Executive Officer of the company, in a statement dated January 22, 2026.

Drilling activity and scope of the current program

Exploration drilling at Beartrack-Arnett is currently being carried out by Drilcor Ltd., which has completed approximately 1,150 metres of diamond core drilling across four exploration holes. These holes are focused on two main objectives: a two-kilometre step-out at the Sharkey target area, located south of existing resources, and potential extensions of higher-grade mineralization at the Joss target area, which was last drilled in 2022.

Of the four completed holes, three were drilled in the Sharkey target area. The fourth hole was directed toward the Joss area to the north. Revival Gold reported that a second drilling contractor, Major Drilling, has been engaged to provide an additional rig with the intention of increasing drilling capacity at Joss. Major Drilling is expected to mobilize to the site in early February.

Geological setting of Beartrack-Arnett

The Beartrack deposit forms part of the larger Beartrack-Arnett Gold Project and is classified as a structurally controlled orogenic gold system. Mineralization at Beartrack is associated with the Panther Creek Shear Zone (PCSZ), a north-south trending structural corridor that hosts a multi-million-ounce gold resource extending over more than five kilometres of strike length.

Exploration at Beartrack-Arnett has focused on identifying extensions of the PCSZ as well as parallel or related structures that could host additional mineralization. The Joss deposit, located along the PCSZ, represents one such area of interest where previous drilling identified higher-grade gold zones.

Sharkey target drilling results to date

The Sharkey target is located approximately two kilometres south of known mineralization and was designed as a step-out to test the southern extension of the PCSZ. The target was defined primarily by geophysical resistivity anomalies that are interpreted to reflect the continuation of the structural corridor beneath post-mineral cover.

According to the update, drilling at Sharkey encountered bedrock at greater depths than previously indicated by geophysical modeling and historic reverse-circulation drilling logs. Of the three holes completed in this area, only one successfully intersected the intended target stratigraphy, identified as Proterozoic metasedimentary rocks.

In this hole, the intercepted stratigraphy was described as highly fractured and contained small vein selvages with sericitic alteration. This style of alteration is commonly observed adjacent to mineralization elsewhere along the PCSZ. While no mineralization comparable to that found at the Joss target was intersected, one hole, identified as BT25-247D, encountered zones of alteration and shearing near the contact between bedrock and overburden. The alteration assemblage included quartz, pyrite, arsenopyrite, and sericite.

Geochemical assay results from the Sharkey drilling are currently pending. Revival Gold indicated that once received, these results will be used to refine future exploration drilling plans in the Sharkey area.

Continued work at the Joss target

Drilling operations at the Joss target are continuing under the current program, with the focus on extending known mineralization to the north. The engagement of Major Drilling is expected to accelerate progress in this area once the second rig is operational.

The company has stated that results from Joss drilling will be reported as assay data becomes available. A map showing planned and completed drill holes for the Beartrack-Arnett program was referenced as Figure 1 in the original disclosure.

Market-liquidity services agreement

Separately, Revival Gold announced that it has entered into a market-liquidity services agreement with Velocity Trade Capital Ltd., a private investment dealer headquartered in Toronto, Ontario. Under the agreement, Velocity Trade will provide market-making services intended to support orderly trading, reduce volatility, and improve liquidity in Revival Gold’s common shares.

Velocity Trade will manage trading activity from time to time using its own funding and securities. In exchange for these services, Revival Gold will pay a fee of C$6,000 per month. The first two months’ fees are payable upon execution of the agreement, with services expected to commence on or around February 1, 2026. Thereafter, the monthly fee will be payable on the first day of each month.

The agreement will remain in effect until terminated by either party with 30 days’ prior written notice. There are no performance-based obligations included in the agreement, and Velocity Trade will not receive any form of equity compensation, including common shares or stock options.

Revival Gold stated that Velocity Trade and its principals own, directly or indirectly, less than 1% of the company’s issued and outstanding common shares. The parties are at arm’s length, are not related, and have no other agreements beyond the market-liquidity arrangement described. The engagement is subject to acceptance by the TSX Venture Exchange.

Revival Gold (TSXV:RVG) has announced the results of eight core drill holes as part of its 2023 exploration activities at the Beartrack-Arnett Gold Project in Idaho, USA. All eight holes are from the Haidee deposit area and showed near-surface oxide gold mineralization above the cut-off grade. The 2023 drilling at Haidee consisted of twelve core drill holes, which aimed to investigate various targets related to the existing Haidee Mineral Reserve.

Hugh Agro, President & CEO of Revival Gold, commented in a press release: “The confirmation of higher grade near-surface oxide gold mineralization beyond the current Mineral Reserve at Haidee is a significant development. The results validate our team’s exploration case for higher grade material and possible feeder structures at Haidee, and they demonstrate tangible potential to meaningfully expand Revival Gold’s proposed Haidee open pit and heap leach restart plans for Beartrack-Arnett. We look forward to releasing this year’s remaining drill results in the weeks ahead.”

In addition to Haidee, the company also completed drilling in three new target areas at Beartrack-Arnett: Roman’s Trench, Midlands, and Ridge. In total, 18 core drill holes covering 3,350 meters were completed in this year’s campaign. Results for two of the holes at Roman’s Trench were disclosed on September 27, 2023, and results for the remaining eight holes are anticipated to be released next month.

Two particular holes, AC23-106D and AC23-115D, were drilled to further investigate high-grade mineralization found in hole AC22-094D on the western side of the Haidee Mineral Reserve. Both holes revealed additional high-grade mineralization. Hole AC23-115D specifically showed mineralization in what is interpreted to be a feeder structure with a north-northeast strike and a moderate southeasterly dip. These findings confirm the presence of higher-grade mineralization outside the current reserve pit at Haidee, suggesting the potential for increasing Mineral Reserves in the area.

Apart from Haidee, Revival Gold reported outcomes from a channel sampling program at Roman’s Trench. This program was initiated to follow up on earlier chip sampling and involved cutting a continuous channel across an 11.9-meter outcrop to obtain a more representative sample set. Eight samples were taken at roughly 1.4-meter intervals along the channel, and five vertical crosscuts were also taken. Gold values varied from 0.04 g/t to 112 g/t, with two additional samples over 6 g/t. These results, although not reflecting the true width of the structure due to the sampling method, support the existence of high-grade oxide gold mineralization in the Roman’s Trench area, warranting further investigation.

Highlights from the results are as follows:

Revival Gold (TSXV:RVG) has concluded its 2022 drill program at the Beartrack-Arnett Gold Project in Idaho, USA. The program included 22 core holes for a total of approximately 5,500 metres. In September, results from the first two core holes from the 2022 program confined the continuity of potentially underground mineable grades within a broad zone of gold mineralization in the Joss target area and further emphasized the depth and scope of mineralization at Beartrack-Arnett. 

The Joff target area extends over a strike of 1,000 metres, and has now been drilled to a depth of over 500 metres and is open in all directions. Intercepts for the 20 core holes completed at Joss to-date average 7.7 g/t gold over 5.5 meters drilled width within a broader zone of 2.8 g/t gold over 45.5 meters drilled width.

Hugh Agro, Revival Gold’s President & CEO, commented in a press release: “Revival Gold’s exploration team is to be commended for wrapping up another safe and productive drilling campaign at Beartrack-Arnett this year with exciting results from Joss and the completion of all planned drilling in the Haidee area to support next year’s PFS. Further assay results are expected later this month and into the new year. We look forward to building on 2022’s great results in the drilling campaigns to come.”

The company completed two more core hols this year for a total of four, and 2,600 metres on the main Beartrack-Arnett mineralization trend. One is in the South Pit target area and one more hole is in the Joss target area. Hole BT22-243D is intended to extend high-grade mineralization at the southern end of the South Pit and hole BT22-244D is intended to expand on high-grade intervals from the 2018 drilling program. 

Revival Gold also completed 18 infill and expansion core holes for 2,900 metres in the near-surface, oxide material of the satellite deposit in the Haidee target area. The company intends these holes to upgrade the Inferred Resources to Indicated Resources. This would then extend the existing Mineral Resource to the southwest, or down-dip, direction. Assay results from Haidee may be available in the next three months, with mineralization at the site remaining open in all directions. 

Currently, Revival is shifting exploration activities to the review and interpretation of drilling results. It would also update the Beartrack-Arnett geological and mineral resource models. This is aimed at supporting the planned 2023 first phase heap leach Preliminary Feasibility Study and any other plans the company will create for future drilling.