NI 43-101 Beartrack-Arnett Gold Project Technical Report

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NI 43-101 Beartrack-Arnett Gold Project Technical Report REVIVAL GOLD INC. TECHNICAL REPORT ON THE BEARTRACK – ARNETT GOLD PROJECT, LEMHI COUNTY, IDAHO, USA NI 43-101 Report Qualified Persons: Mark B. Mathisen, C.P.G. Ryan Rodney, C.P.G. Kathleen A. Altman, Ph.D., P.E. February 21, 2020 Effective Date: December 10, 2019 RPA55 University Ave. Suite 501 I Toronto, ON, Canada M5J 2H7 I T + 1 (416) 947 0907 www.rpacan.com Report Control Form Document Title Technical Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA Client Name & Address Revival Gold Inc. 145 King Street W. Suite 2870 Toronto, ON, M5H 1J8 Document Reference Project #3111 Status & FINAL Issue No. Version Effective Date December 10, 2019 Lead Author Mark B. Mathisen (Signed) Ryan Rodney (Signed) Kathleen A. Altman (Signed) Peer Reviewer David Ross (Signed) Reno Pressacco (Signed) Wayne W. Valliant (Signed) Project Manager Approval Grant A. Malensek (Signed) Project Director Approval Richard J. Lambert (Signed) Report Distribution Name No. of Copies Client RPA Filing 1 (project box) Roscoe Postle Associates Inc. 55 University Avenue, Suite 501 Toronto, ON M5J 2H7 Canada Tel: +1 416 947 0907 Fax: +1 416 947 0395 [email protected] www.rpacan.com FORWARD LOOKING INFORMATION The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that Revival Gold Inc. expects or anticipates will or may occur in the future, including, without limitation, disclosure regarding the economics and project parameters presented in the preliminary economic assessment referred to herein as the PEA, including, without limitation, IRR, NPV and other costs and economic information (including the price of gold), possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future development and exploration activities on the Rook I Project; success of development and exploration activities; permitting timelines and requirements; timelines for technical reports and further studies, including a pre-feasibility study; planned exploration and development of properties and the results thereof; and planned expenditures and budgets and the execution thereof. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Revival Gold Inc.'s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration and development activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Revival Gold Inc.’s planned exploration and development activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by Revival Gold Inc. and the authors of this Technical Report in providing forward looking information or making forward looking statements are considered reasonable at this time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Revival Gold Inc. to differ materially from any projections of results, performances and achievements of Revival Gold Inc. expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low gold prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Revival Gold Inc.'s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing and other factors discussed or referred to in Revival Gold Inc.'s Annual Information Form dated March 31, 2017 under "Risk Factors". Although the Revival Gold Inc. and the authors of this Technical Report have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Revival Gold Inc. – Beartrack-Arnett Gold Project, Project #3111 Technical Report NI 43-101 – February 21, 2020 Page i www.rpacan.com There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. Neither Revival Gold Inc. nor the authors of this Technical Report undertakes any obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. Revival Gold Inc. – Beartrack-Arnett Gold Project, Project #3111 Technical Report NI 43-101 – February 21, 2020 Page ii www.rpacan.com TABLE OF CONTENTS PAGE 1 SUMMARY ...................................................................................................................... 1-1 Executive Summary ....................................................................................................... 1-1 Technical Summary ....................................................................................................... 1-6 2 INTRODUCTION ............................................................................................................. 2-1 Sources of Information ................................................................................................... 2-1 Effective Date ................................................................................................................ 2-2 List of Abbreviations ....................................................................................................... 2-3 3 RELIANCE ON OTHER EXPERTS.................................................................................. 3-1 4 PROPERTY DESCRIPTION AND LOCATION ................................................................ 4-1 Land Tenure .................................................................................................................. 4-1 Obligations to Maintain the Properties ............................................................................ 4-6 Agreements ................................................................................................................... 4-6 Environment and Permitting ......................................................................................... 4-10 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY ............................................................................................................... 5-1 Accessibility ................................................................................................................... 5-1 Climate .......................................................................................................................... 5-1 Local Resources ............................................................................................................ 5-2 Infrastructure .................................................................................................................. 5-2 Physiography ................................................................................................................. 5-3 6 HISTORY......................................................................................................................... 6-1 District HIstory ............................................................................................................... 6-1 Beartrack ....................................................................................................................... 6-1 Arnett ............................................................................................................................
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