Revival Gold (TSX-V: RVG) CEO Hugh Agro on Successful Drill Campaign at Beartrack and Encouraging Rock Sampling at Arnett Creek

November 24, 2017

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), Mr. Hugh Agro. Hugh, how are you this afternoon?

Hugh Agro: Very good, Gerardo. Thank you for having me back.

Gerardo Del Real: Well, it was important for me to have you back on. You and I were recently at the Silver and Gold Summit in San Francisco. I wanted to catch up and catch everybody up on what you thought the conference provided, the opportunities that you see in the space. I know we had a conversation off the air about cryptocurrencies and gold and Bitcoin, but I'd love your general overall take on the conference. What did you see? What did you find interesting?

Hugh Agro: Sure. I'm no expert in the cryptocurrencies, certainly know a lot about the gold market, but boy, it strikes me as a bit of a ruse, this cryptocurrency market. Against a backdrop of a real dearth of good, new development projects in the gold space, I see lots of potential for companies like Revival Gold, that are developing projects for the next generation of developing mines.

Gold price is solid here, up about 11% so far this year, and there is no real substitute for that currency. These Bitcoins, I really do question the rationale behind investors parking their money in those as a store of value and a currency for future. It strikes me as all very odd. In any event, I came out of the San Francisco summit feeling very confident about the metal and very confident about the space we're in, having a next generation gold project that we're working away at in Revival Gold.

Gerardo Del Real: Agreed. Well, as far as cryptocurrencies go, I always joke that I am not smart enough to put my money where my mouth is when it comes to cryptocurrencies, so I keep it simple. I keep it to gold and the resource space. Let's talk Revival Gold. It's a very exciting time. You recently completed just over 3,000 meters of core drilling at Beartrack. Beartrack, of course, being a past-producing mine. Can we talk a bit about the drilling, and when we can anticipate assays, Hugh?

Hugh Agro: We completed 12 holes in the 3,000 meter program. Ten of those were in the near surface, historic resource, on the project area. Two were targeting an intercept at depth which was quite high grade, below the existing historic resource. We should have results out, at least initial results out, in the next two to four weeks. We'll have the balance of results from those 12 holes out over the January, possibly early February timeframe. It just takes times to get them through the lab, and get the geologist to go through the QA/QC, and make sure we've got everything, all i’s dotted and t’s crossed on the analysis.

So for the next two and a half months, we'll have those results out, and we're cautiously optimistic. The program went well. The team performed beautifully. It's one of the attractions of being on a brownfield site. The road access, the proximity to town, the availability of capable people that know the project and how it works, and the specifics of the rock characteristics, and the drilling. Those things all contribute to a smooth program, so we had a very good program executed. We met the meterage in the timeframe that we wanted to, and so we're cautiously optimistic here, Gerardo, but very excited to have results coming out shortly.

Gerardo Del Real: Excellent. Now, you mentioned that you're cautiously optimistic. I definitely am not one to overhype a drill program, but there really is the potential for some very good numbers. Just to step back a bit and provide some context, two of the holes that were drilled in the Ward's Gulch area were targeting deep mineralization that Meridian, back in the day, had identified. I know that drill hole BT12-175D had intersected 71 grams per tonne gold over 9.75 meters, with an estimated true width of 4.88 meters. That's pretty spectacular. Can you speak a bit to the target there?

Hugh Agro: Yeah. So, the target is within the fault structure. It's a subvertical fault structure at Beartrack, the Panther Creek fault. It's a regional fault structure, so it extends all the way up to Canada, so far as we know. The mineralization within that structure that we have identified at Beartrack extends for about five kilometers in five mineralized areas, where the fault has dilated out and created zones that are permissive of mineralization and economic mineralization at surface.

We'll be chasing those down at depth, and as you say, the grade at 175 was quite high. We want to get back in there and see the tenor and the orientation of that mineralization. It's never been drilled to within 200 feet, and so we want to get close to it and see how it's moving and where it's directed. So, the holes, the two holes that we've planned are about 30 meters vertically up and over to the side, east and west of that historic intercept. We'll see what we come out of that.

We've got other intercepts along that five kilometer strike that are also higher grade and are worthy of follow-up. We'll get into those in 2018 with the program. As you know, we have another 8,000 meters planned in our first phase of drilling at Beartrack. We'll be back in there in May to continue with the program.

Gerardo Del Real: Excellent. Now, you also had news out of Arnett Creek, you received I believe about 107 rock samples from Arnett Creek, which is approximately four kilometers from Beartrack, if I'm not mistaken. Can you speak a bit about that, Hugh?

Hugh Agro: Yes. Four miles. Sorry for the mixed use of metric and imperial. But yeah, about four miles, so six and a half kilometers from Beartrack, we have the Arnett Creek land position. There is a historic resource there. We wanted to get in this summer, even before getting permits to commence drilling, to do some prospecting, understand the land position. As you may recall, we expanded the land position with staking in the summer, and we got out to about 6,000 acres there, and so we want to get an understanding of the ground that we picked up, and where we might find drill targets there.

The way to do that, of course, is to get out and pick up rock samples. Our geologists were out there for a couple of months. We collected 107 samples and about a third of them were over a gram a tonne, which is pretty interesting. We have mapped those out. That data is available on our website, but you can see that across the property position, we've got some pretty interesting mineralized areas for follow-up with drilling.

Now, Arnett Creek has been drilled in the past, but most of that was focused in one area on the property, and we wanted to get out and see where else we might want to follow up with some drilling. So, all very positive. As I say, a third of those rock samples graded over a gram per tonne. In one area we found a strike of mineralization that looks to extend about 2.5 kilometers. Another area, we verified that there's indeed a good drill target in that particular area around the Italian Mine. So we have a few drill targets to follow up with in 2018 there.

While I'm on this subject, we have made our application for a permit of operation at Arnett Creek. We are hopeful that we'll get that through the US Forest Service permitting process, and be able to get in there and get some drilling in Arnett Creek for 2018 field season.

Gerardo Del Real: Well, between the assays that are pending that I'm excited about and the drilling in 2018, at both Beartrack and Arnett Creek, it seems like the next 12 months are going to be full of a lot of news, and a lot of potential catalysts. I think the Revival Gold story's going to be one that becomes a whole lot more familiar with a whole lot more eyeballs here soon.

I know the company was very well received when I was in San Francisco. I had a lot of people asking me about it, and I imagine you found it to be productive, as well. I know you had several people up at the booth inquiring about the past-producing Beartrack mine, the metallurgy. And again, this isn't a greenfields project. This is an advanced stage project that I think has a lot of potential, and you're off to a good start. Hopefully we have you back soon, Hugh, to get the drill results reported.

Hugh Agro: Super. There's a lot going on at Revival Gold. I certainly did enjoy meeting up with some of our current and some new incoming shareholders in San Francisco. Really enjoyed that and welcome the interaction. The team is busy. I mean, we've got a lot of geological modeling work going on, now that the team is out of the field, as we build up the database and start to understand the resource potential there.

We've got our AGM coming up at the end of this month. As some of you will know, we've got an incoming director nominee, Wayne Hubert, who's been involved in the start of the business, now coming onto the board. I'm confident that the shareholders will elect him and so we'll be announcing some appointments in the beginning of December.

Beyond that, we're working on a US OTC listing to service our US shareholders, and as I say, making preparations for getting back into the drill programs in May.

Gerardo Del Real: I think it's important to note you're fully funded for the 2018 programs. Is that correct, Hugh?

Hugh Agro: It is. We've got about $9 million in the treasury to fund our programs.

Gerardo Del Real: Fantastic. Well, Hugh, thank you again for your time. Again, I hope to have you back on soon, as soon as we start getting those assays in. Thanks a lot.

Hugh Agro: Thank you, Gerardo.

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