Revival Gold (TSX-V: RVG) CEO Hugh Agro Expects an Expedited Resource Estimate in Mid-2018 after Successfully Confirming Historic Data at Beartrack

February 28, 2018

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Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is President and CEO of Revival Gold (TSX-V: RVG)(OTC: RVLGF), Mr. Hugh Agro. Hugh, how are you this afternoon?

Hugh Agro: Very good, Gerardo. Happy to be back with you.

Gerardo Del Real: Well thank you for taking the time. I know you're out there working on behalf of shareholders. You're at the BMO conference if I'm not mistaken, correct?

Hugh Agro: That's right. A huge attendance down here in Miami at the BMO Metals & Mining Conference. Lots of interest in Revival Gold. We're running from meeting to meeting getting the story and the message out.

Gerardo Del Real: Well, you had a press release yesterday that I thought was a very important press release. There's a lot of nuggets and pieces of information there that I thought merited going over. The first is that you've now fast tracked the updated 43-101 for the past producing flagship Beartrack property. I want to talk about what motivated that. I understand that the geological model has held up very well and you're now so confident in the historic drilling being validated that you've decided to expedite this updated resource estimate. Can we speak to that first?

Hugh Agro: We drilled 12 holes in 2017 and 10 of those were targeted at confirming the historic drilling that underpins the historic resource. And of course that's really important for QA/QC, that is quality control, and getting a 43-101 out and an updated resource statement. We did that exercise and expected that we might have to do more drilling of a confirmatory nature in 2018. But we've completed the studies now and the data matched up very well. So we have full confidence to move forward now with the updated resource for mid-year this year. we'll move our 2018 drilling towards resource expansion opportunities so we can get a view on the scope of what we're working with here at Beartrack.

Gerardo Del Real: Well, I think the updated resource estimate is going to attract a lot of attention. I know you have approximately 1.6 million ounces between Arnett and Beartrack in historic resource. But obviously it's getting a new 43-101 that will, I think, bring a new spotlight to Revival. And the reason I say that is because you're not just going to sit on that resource estimate, you've actually approved a $4.5 million, 2018 exploration program at Beartrack. And Arnett Creek will also see some drilling. Can you provide some of the details there?

Hugh Agro: The resource update that we're going to do is of course in the present gold price environment. The historic resource was done back at the close of the mine and it was done in a sub-$300 gold price environment. So that in and of itself should lead us to be able to expand potential pit boundaries for what might come in on a resource basis. In addition, we put 13,000 meters of drill data that was previously not in the drill hole database into the database to be able to compute that updated resource. We're expecting that we'll see certainly at least the current 1.3 million ounces that is in historic resource come into a 43-101 standard updated resource estimate at Beartrack.

You mentioned Arnett Creek, Gerardo. We completed our public comment period on the plan of operations submittal, which was made last year. That means that we're making good progress towards being permitted to go in and drill at Arnett Creek, in addition to what we're doing at Beartrack. And that's exciting in and of itself. We've got a really interesting target there. We've got historic resources at Arnett Creek and there's really been no modern exploration there and certainly none to look at the property wide potential. We're permitting 53 drill pad locations on Arnett Creek. We'll get in with 2,000 meters at Arnett Creek towards the end of this year and we'll be back in there again no doubt in 2019 and beyond.

Gerardo Del Real: I understand, Hugh, that the primary focus of the exploration program at Beartrack will be to extend the transitional and sulfide mineralization at depth in the South Pit and at Ward's Gulch. Can you talk about that?

Hugh Agro: It's the low hanging fruit in terms of opportunities for us. So we're going to work from the known resource out from there. That’s extensions along strike, the mineralization, and extensions at depth, the mineralization. And for those listeners who want to have a visual, an image of what we're talking about, I encourage you to review our press release. There's a couple of really good images, figures in that press release. Figure 1 in particular describes the block model as it currently stands and then the drilling beneath that block model with some very interesting grades. That will all be included in our updated resource estimate. But it also speaks to the potential of that Beartrack fault structure for additions to the resource with extension drilling along strike and at depth. So to your point, that's where our efforts will be focused in 2018, expansion.

Gerardo Del Real: It's important to note that this is a fully funded exploration program. This isn't a program where you're diluting or having to raise cash. What's the treasury look like right now, Hugh?

Hugh Agro: We're $7.6 million at the beginning of this year. So not much departure from that yet. And we've got $4.5 million dedicated to Beartrack this year and approximately $1 million dedicated to Arnett Creek. We're in pretty good shape financially. We'll get through some good milestones here with the work programs we have fully budgeted.

Gerardo Del Real: Well it should be an exciting 2018. I'm excited to visit the property once drills start turning again, hopefully later this summer. I visited last year, I was blown away by the infrastructure and frankly the warm reception that you've received from the locals. This is a project and a mine that the local community wants to be a producing mine again. I can't say enough for the professionalism of the staff at Revival during that visit. I'm looking forward to going back and seeing what the drill, the truth machine turns up.

Hugh Agro: You bet. And you've picked up on a really interesting theme. Some of our peers in the state of Idaho are enjoying a lot of success with regulators and with the community's support. It's hard yards, the companies involved are doing great work, and I point out Midas in particular as leading the way with Stibnite, the permitting process there. The bipartisan support for that project in the state government. And also our neighbors to the south at Otis Gold with Kilgore, bringing Agnico's interest into this state. I think this is all positive. And in fact, the companies I've just mentioned and Revival Gold will be out with the state Governor, Butch Otter, to see investors in Toronto and in New York in the next couple of months. So please look for that invitation, those of you who are interested and join us for those meetings and come and see how positive an environment Idaho is for investment and the support of the government state officials.

Gerardo Del Real: Excellent. Hugh, thank you very much. I'm looking forward to chatting again soon. Thank you for your time today.

Hugh Agro: Cheers.

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