Revival Gold Advances Mercur Project With A View To Be Utah's Next New Operating Gold Mine
Rhea-AI Summary
Revival Gold (OTCQX:RVLGF) reported progress at its Mercur Gold Project in Utah, targeting development as a heap leach mine. The site team has expanded to eight staff and a 16,000-meter drilling program is about 15% complete with two reverse circulation rigs operating.
Twenty column leach tests supporting the Preliminary Feasibility Study (PFS) are underway at Kappes Cassiday, with initial results expected mid-2026. Environmental baseline work by Stantec and engineering studies by RESPEC, WSP, and KCA are in progress. The heap leach PFS remains on track for end of Q1 2027, with permitting completion expected by year-end 2027.
Revival Gold indicates funding is in place to advance Mercur toward a construction decision. The company also clarified it will pay Equity Catalyst Partners US$7,500 per month over six months, correcting earlier disclosure of a US$45,000 upfront fee.
AI-generated analysis. Not financial advice.
Positive
- 16,000-meter Mercur drilling program about 15% complete with two rigs active
- Twenty column leach metallurgical tests underway to support Mercur PFS
- Environmental baseline and engineering studies in progress for Mercur heap leach
- Legacy water well pumping test met expected mine operating requirements
- Mercur heap leach PFS targeted for end of Q1 2027
- Company states funding is in place to advance Mercur to construction decision
Negative
- Mercur mine permitting only expected to be completed by year-end 2027
- Only about 15% of the 16,000-meter 2026 drilling program completed to date
- Equity Catalyst Partners compensation terms required correction from prior disclosure
News Market Reaction – RVLGF
On the day this news was published, RVLGF declined 1.73%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESS Newswire / May 14, 2026 / Revival Gold Inc. (TSXV:RVG)(OTCQX:RVLGF) ("Revival Gold" or the "Company") is pleased to provide an update on development at the Company's Mercur Gold Project ("Mercur" or the "Project") in Utah.
Highlights
The Mercur site team, under the leadership of General Manager Tim Barnett, is scaling up with eight staff members now driving this year's exploration, resource delineation, geotechnical, and hydrogeological drilling activities.
This year's metallurgical program comprised of twenty column leach tests to support the Preliminary Feasibility Study ("PFS") is in progress with Kappes Cassiday & Associates ("KCA") in Reno, Nevada, with initial results expected in mid-2026.
Environmental baseline data collection, a key input to the permitting process, is on-going under the direction of Revival Gold's lead environmental consultant, Stantec. Focus areas include wildlife, vegetation, soils, aquatic life, hydrogeology, cultural resources, air, and geochemistry.
Mineral resource modeling and engineering design studies are underway with the Company's key technical consultants including RESPEC, WSP, and KCA.
A legacy water well, previously used for Mercur milling operations, was surveyed and sampled. The pump was replaced and a step draw-down pumping test to expected mine operating requirements was successfully performed.
This year's previously announced 16,000-meter drilling program in support of the PFS is now approximately
15% complete with two reverse circulation rigs drilling.The Mercur site office is being upgraded to support the Company's growing team.
Overall, the Mercur heap leach PFS remains on track for end of Q1 2027 release with completion of mine permitting expected by year-end 2027.
"Revival Gold's Board of Directors visited Mercur last month to meet the site team and witness firsthand the exciting progress that has already been made this year. Momentum continues to build with the recent hiring of additional key site staff and funding is in place to advance Mercur to a construction decision", said Hugh Agro, President & CEO. "2026 and 2027 will be packed with activity at Mercur as we work to deliver the next new potential operating gold mine in Utah, the Beehive State", added Agro.
Further to the Company's April 28, 2026, press release in which the Company announced, among other things, it had engaged Equity Catalyst Partners, LLC ("ECP") to provide the Company certain investor relations and marketing services, the Company wishes to clarify the payment schedule of the engagement. The Company will pay ECP US
Qualified Persons
Technical information included in this news release was reviewed and approved by Mr. John Meyer, P.Eng., a QP and Vice President, Engineering and Development for the Company.
About Revival Gold Inc.
Revival Gold is one of the largest, pure gold mine developers in the United States. The Company is advancing development of the Mercur Gold Project in Utah and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol "RVG" and trades on the OTCQX Market under the ticker symbol "RVLGF". The Company is headquartered in Toronto, Canada, with its U.S. exploration and development office located in Salmon, Idaho.
For further information, please contact:
Hugh Agro, President & CEO
Scott Trebilcock, VP Corporate Development & IR
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking statements could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to: statements with respect to the Company's view for Mercur to become Utah's next operating gold mine, the Company's planned exploration and development programs at Mercur, the refurbishment of Mercur, the timing of the Mercur PFS, the timing of completion of mine permitting at Mercur, and that funding is in place to advance Mercur to a construction decision.
Forward-looking statements and information involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results expressed or implied by such forward-looking statements or information, including, but not limited to: the Company's ability to finance the development of its mineral properties; re-allocation of funds available to the Company, uncertainty as to whether there will ever be production at the Company's mineral exploration and development properties; risks related to the Company's ability to commence production at the projects and generate material revenues or obtain adequate financing for its planned exploration and development activities; uncertainties relating to the assumptions underlying resource and reserve estimates; mining and development risks, including risks related to infrastructure, accidents, equipment breakdowns, labour disputes, bad weather, non-compliance with environmental and permit requirements or other unanticipated difficulties with or interruptions in development, construction or production; the geology, grade and continuity of the Company's mineral deposits; the uncertainties involving success of exploration, development and mining activities; permitting timelines and risks that certain necessary permits will not be received on a timely basis or at all; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; prices for energy inputs, labour, materials, supplies and services; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; unexpected cost increases in estimated capital and operating costs; the need to obtain permits and government approvals; material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to other risks and uncertainties disclosed in the Company's public filings with Canadian securities regulators, including its most recent annual information form and management's discussion and analysis, available at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
SOURCE: Revival Gold Inc.
View the original press release on ACCESS Newswire