Revival Gold Inc. (TSXV: RVG) has closed a non-brokered private placement for aggregate gross proceeds of C$3,000,000.
The net proceeds of the Offering will be used to fund on-going exploration and development at the Company’s core Beartrack-Arnett Gold Project located in Lemhi County, Idaho and for general corporate purposes.
About Revival Gold Inc.
Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. Engineering work has been initiated on a Preliminary Feasibility Study (PFS) for the potential restart of heap leach operations.
Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of 65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and Inferred Mineral Resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold. The mineralized trend at Beartrack extends for over five km and is open on strike and at depth. Mineralization at Arnett is open in all directions.
Revival Gold has approximately 91.9 million shares currently outstanding and a cash balance of C$3.4 million as of September 30th, 2022
For further information please visit: https://revival-gold.com/
