Revival Gold announces results from PEA on Mercur Gold Project

Revival Gold (RVLGF) announced results from a Preliminary Economic Assessment on the Company’s Mercur Gold Projectin Utah, U.S.A. Furthermore, the Project’s favorable mineral tenure, straightforward design and existing infrastructure endowment are expected by Revival Gold and the Company’s consultants to support a relatively short permitting timeline of approximately two years, putting Mercur on the fast track for potential re-development. Mercur Heap Leach PEA Highlights: Life-of-mine production of 65.6 million tonnes of mineralized material at 0.60 grams per tonne and 75% average recovery generating an average of 95,600 ounces of gold per year over a 10-year mine life; After-tax NPV at a 5% discount rate of $294 million and after-tax IRR of 27% at a gold price of $2,175 per ounce increasing to a $752 million NPV5% and 57% IRR at a gold price of $3,000 per ounce; After-tax payback period of 3.6 years at $2,175 per ounce of gold decreasing to 1.7 years at $3,000 per ounce of gold; Pre-production and working capital of $208 million and additional LOM sustaining capital of $110 million; LOM average cash cost of $1,205 per ounce of gold and all in sustaining cost of $1,363 per ounce of gold; PEA mine plan developed from Indicated Mineral Resources of 35.3 MT grading 0.66 g/T gold containing 746,000 ounces of gold and Inferred Mineral Resources of 36.2 MT grading 0.54 g/T gold containing 626,000 ounces of gold; and, Expected timeline to complete applicable baseline studies and mine permitting of approximately two years. “Completion of this PEA highlights the potential economic value of Mercur and more than doubles Revival Gold’s underlying net asset value from gold,” said Hugh Agro, President & CEO. “Mercur presents a unique opportunity for relatively near-term U.S. gold production from a low-risk, low capital project at a logistically superior domestic mine site. The Project features robust economics including a $294 million after-tax NPV and a compelling 27% after-tax IRR at $2,175 gold increasing to $752 million and 57% at $3,000 gold. Over the course of the next two years, Revival Gold intends to focus on low-risk resource conversion and expansion, additional engineering studies and the completion of Project permitting.”