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REVIVALGOLDDOUBLES

PLANNEDDRILLINGPROGRAMATBEARTRACK-ARNETT

Toronto,ON–August19th,2020–RevivalGoldInc.(TSXV:RVG,OTCQB:RVLGF)(“RevivalGold”or the“Company”),agrowth-focusedgoldexplorationanddevelopmentcompany,ispleasedtoannounce a significant expansion to the planned drilling program this year at the Company’sBeartrack-ArnettGoldProject(“Beartrack-Arnett”)locatedinLemhiCounty,Idaho.Highlights

• The initial 5,000-meter core drilling programwith Boart Longyear Limited at Beartrack-Arnetthasbeenexpandedto10,000metersandnowincludesfourtargetareas;

• Drilling in theHaideearea atArnettwill include3,000meters (10-15holes) of resourceexpansiondrillingalongstrikefromtheexistingArnettMineralResourceandanadditional2,000meters(8-10holes)ofinfilldrillingtoexpandandupgradetheInferredresourceatHaidee;

• Drilling in the previously untested Rabbit area will help establish the scale of themineralized system at Beartrack beyond its current 5.6-kilometer strike withapproximately 2,000 meters (2-4 holes) of drilling. Targets are located two and threekilometerssouthandontrendoftheexistingBeartrackMineralResource;

• DrillingintheJossareawillfollowuponpriorhigh-gradegoldinterceptsindrillholeBT18-211(seedetailsbelow)andtesttheareabetweentheNorthPitandSouthPitareaswithatotalofapproximately3,000meters(4-6holes);and,

• In addition to expanding the planned drilling campaign, Revival Gold has expanded itsplannedgeophysicsprogramto21line-kilometersofgradientarrayinducedpolarization-resistivity(“IP-RES”)atHaidee,13line-kilometersofgradientarrayIP-RESatJossandfiveline-kilometersofdipole-dipoleIP-RESatRabbit.

“RevivalGoldhas rampeduptocomplete thebiggestexplorationprogramtobeundertakenatBeartrack-Arnett since the 1990’s”, said Hugh Agro, President & CEO. “We will spendapproximately$6milliononexplorationandwewilltestseveralpotentialgame-changingtargetsontheproject.Atthesametime,weexpecttodeliveraPreliminaryEconomicAssessmentontheexistingopenpitheapleachableresourcebeforeyear-endandwilladvanceothertechnicalstudywork on both heap leach andmill material as recommended in the company’s February 2020TechnicalReport”.

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Expanded2020ExplorationProgramLastmonthRevivalGoldmobilizedBoartLongyearLimitedforaninitial5,000-metercoredrillingprogram at Beartrack-Arnett. Subsequently, following the close of the Company’s recent $15million equity financing, Revival Gold’s Board of Directors approved an expanded program of10,000metersofcoredrilling.The 10,000 meter 2020 drilling program is intended to expand the leachable resource in theHaidee area at Arnett along strike in both directions, upgrade the 2020 Inferred resource atHaidee to an Indicated category and continue to build the scale of the known gold system atBeartrack beyond its current 5.6 kilometer known strike with drilling in three locations. Theprogram will consist of approximately 5,000 meters of drilling at Arnett and 5,000 meters atBeartrack.Anoverviewofallplanned2020drillholecollarlocationsisdepictedinFigure1below.

Figure1:Overviewof2020PlannedDrillHoleLocations

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Ofthe5,000metersofcoredrillingplannedforArnett,anestimated3,000meters(10-15holes)isdesignatedforresourceexpansion.Resourceexpansiondrillingwillbecompletedalongstrikeinbothdirectionsandup-dipofthecurrentresourceintheHaideearea. Resourceexpansiondrillholeswillbedrilledtoanapproximatedepthof150meterson60meterspacing.Theremainderof theplannedArnettdrilling (approximately2,000meters in8-10holes) is infilldrilling intended to upgrade the 2020 Inferred resource at Haidee to the Indicated category.Resourceupgrade infill drill holeswill bedrilled to an approximatedepthof 150meterson30meterspacing.Allplanned2020ArnettdrillholesintheHaideeareaareapprovedfordrillingFigure2belowisaplanviewoftheArnettHaideeareaandthisyear’splanneddrillinginthearea.

Figure2:ArnettHaideeAreaDrillProgram

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InadditiontodrillingatArnett,RevivalGold’s2020drillprogramwillinclude5,000metersofcoredrilling targeted to continue to build on the scale ofmineralization at Beartrack. The currenttargetsofgreatestexploration interestatBeartrackare in theRabbitarea, thesouthernendoftheJossareaandbetweentheNorthandSouthPit. Figure3illustratestheplannedprogramatBeartrackintheRabbitandJossareas.

Figure3:BeartrackRabbitandJossAreasDrillProgram

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TheRabbitareahasbeentargetedbyRevivalGoldbasedonanairbornemagneticsanomalyandproperty-widemapping. This undrilled target area is located beneath post-mineralization coverand represents a high value opportunity given its positionwithin, or proximity to, the PantherCreekShearZone(“PCSZ”)andits intersectionwith interpretedcrossfaultingstructuressuchastheCoiner Fault. Structural intersections represent attractive exploration targets because theyareareasofincreasedrockfracturing,whichisfavorablefortheflowofhydrothermalfluidsthatcandepositminerals such as gold. Approximately 2,000meters (2-4 holes) are planned in theRabbitarea.ThetargetareabetweentheNorthandSouthpits liesalongthePCSZbetweentwomineralizedbodiesandhaslargelybeenuntestedbydrillingatdepth.In the Joss area drilling has been planned to continue to test the southern extension of theexisting Mineral Resource and to follow up several intriguing high-grade gold intersectionsencounteredeastofthePCSZincoreholeBT18-211D(seeTable1below).

Table1:BT18-211DIntersectionsEastofthePCSZ

HoleNumber

Area

Azimuth(deg.)

Dip(deg.)

From(m)

To(m)

DrilledWidth(m)

Est.TrueWidth1(m)

FireAssayGoldGrade

(g/t)

BT18-211D Joss 303 -53 102.7 103.9 1.2 0.7 9.29 158.3 159.8 1.5 0.9 6.98

188.5 190.0 1.5 0.9 7.87 198.4 200.9 2.4 1.3 7.48

Incl. 198.4 199.7 1.3 0.7 10.3 217.9 222.1 4.2 2.4 5.37

Incl. 217.9 219.2 1.2 0.7 12.35Incl. 220.7 221.2 1.4 0.8 4.91

237.1 241.4 4.3 2.4 5.13Incl. 238.7 239.6 0.9 0.5 12.85

1Truewidthestimatesbasedonaverticallydippingmineralzone.Drillholestypicallysteependuringdrillingsotheinclinationofthedrillholeatdepthmaynotbethesameastheinclinationinthemineralizedzone.

The intervals in Table 1 were previously reported in 2018 (press release dated December 4th,2018)withinbroadermineralized intervalsbut individualhigh-gradegold interceptsoutside thePCSZ are, at present, poorly understood. Drilling and geophysics (details below) this year areintendedclarifytherelationshipoftheseintervalswithrespecttothePCSZ.

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Approximately3,000meters(4-6holes)areplannedintheJossareabetweentheNorthPitandSouthPit.Thesedrillholesareallapprovedfordrilling.Inaddition to coredrilling,RevivalGold isplanningagroundgeophysicalprogram to followupairbornemagneticsandsoilsamplingcompletedin2019.ThegeophysicshasbeencontractedtoGeofisica TMC, S.A. de C.V. under the direction of Revival Gold’s consulting geophysicist CraigBeasleyPh.D.,WaveGeophysicsLLC.AtArnett,twosquarekilometers(21line-kilometers)ofgradientarrayIP-RESareproposedfortheHaideearea.ThegeophysicalgridwillcovertheHaideeresourcearea,extendingtothesoutheastintoanareaknownastheMidlands.MuchoftheareatobecoveredbythegradientarrayIP-RESatArnettisatleastpartiallycoveredbypost-mineraldepositsthatobscuresurfaceindicationsofmineralization. Gold anomalies identified during Revival Gold’s 2019 soil sampling programsuggest that themineralized structure atHaidee, and/or structuresparallel to it,may continueunderthepost-mineralcover.ThegradientarrayIP-RESisintendedtoidentifystructuresinthesecoveredareas.AtBeartrack,onesquarekilometer(13line-kilometers)ofgradientarrayIP-RESisplannedforthesouthern end of the Joss resource area. The intention is to identify secondary structures thatcouldbecontrollingmineralizationatJoss,specificallythehigher-gradeintersectionsencounteredinholeBT18-211DeastofthePCSZ(seetableabove).Two dipole-dipole IP-RES lines (five line-kilometers) are planned over themagnetic low on theCoiner Fault in the Rabbit area. Dipole-dipole IP-RES lines at Rabbit are intended to identifypossiblemineralizationatdepthandtohelpestimatethedepthtothegeophysicaltarget.RevivalGoldhasarobusthealthandsafetyprogramwhichincludesastrongpolicywithrespecttoCOVID-19.ThepolicyisdesignedtokeepRevivalGoldemployeesandcontractorssafeaswellasto protect the local community. Revival Gold’s COVID-19 policy includes plans to preventinfection, to limit the spread of infection should a team member become infected and acontingencyplanshouldatemporaryshutdownbenecessary.Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., is the Company’sdesignatedQualifiedPersonforthisnewsreleasewithinthemeaningofNationalInstrument43-101StandardsofDisclosureforMineralProjectsandhasreviewedandapproveditsscientificandtechnicalcontent.

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AboutRevivalGoldInc.RevivalGoldInc.isagrowth-focusedgoldexplorationanddevelopmentcompany.TheCompanyhastherighttoacquirea100%interestinMeridianBeartrackCo.,owneroftheformerproducingBeartrackGoldProject located inLemhiCounty, Idaho.RevivalGoldalsoownsrights toa100%interestintheneighboringArnettGoldProject.Beartrack-Arnett is the largest past-producing goldmine in Idaho and hosts the second largestknown deposit of gold in the state. A Preliminary Economic Assessment is underway on thepotentialre-startofaphaseoneopen-pitheapleachoperationandexplorationcontinuesfocusedon expanding the current Indicated Mineral Resource of 36.4 million tonnes at 1.16 g/t goldcontaining 1.35millionounces of gold and InferredMineral Resourceof 47.2million tonnes at1.08g/tgoldcontaining1.64millionouncesofgold.ThemineralizedtrendatBeartrackextendsforover5kmandisopenonstrikeandatdepth.MineralizationatArnettisopeninalldirections.For further details, including key assumptions, parameters and methods used to estimate theMineral Resources, please see the Company’s technical report titled “Technical Report on theBeartrack-ArnettGoldProject,LemhiCounty,Idaho,USA”datedFebruary21,2020.Revival Gold has approximately 70.2million shares outstanding and a current cash balance ofapproximately$14.4million.AdditionaldisclosureincludingtheCompany’sfinancialstatements,technical reports, news releases and other information can be obtained atwww.revival-gold.comoronSEDARatwww.sedar.com.Forfurtherinformation,pleasecontact:HughAgro,President&CEOorAdamRochacewich,CFO Telephone:(416)366-4100orEmail:info@revival-gold.comCautionaryStatement

NeithertheTSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedinthepoliciesoftheTSXVentureExchange)acceptsresponsibilityfortheadequacyoraccuracyofthisnewsrelease.TechnicalinformationinthisnewsreleasehasbeenreviewedandapprovedbySteven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. a Qualified PersonwithinthemeaningofNationalInstrument43-101–StandardsofDisclosureforMineralProjects.This News Release includes certain “forward-looking statements” which are not comprised ofhistorical facts.Forward-lookingstatements includeestimatesandstatements thatdescribe theCompany’s futureplans,objectivesorgoals, includingwordstotheeffectthattheCompany,ormanagement,expectsastatedconditionorresulttooccur.Forward-lookingstatementsmaybeidentified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,

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“would”, “will”, or “plan”. Since forward-looking statements are based on assumptions andaddress future events and conditions, by their very nature they involve inherent risks anduncertainties. Although these statements are based on information currently available to theCompany, the Company provides no assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved with forward-looking informationcouldcauseactualevents,results,performance,prospectsandopportunitiestodiffermateriallyfrom those expressed or implied by such forward-looking information. Forward-lookinginformation in this news release includes, but is not limited to, the Company’s intentionsregarding its objectives, goals or future plans and statements. Factors that could cause actualresultstodiffermateriallyfromsuchforward-lookinginformationinclude,butarenotlimitedto,theCompany’sability topredictorcounteractthepotential impactofCOVID-19coronavirusonfactors relevant to the Company’s business, failure to identify mineral resources, failure toconvert estimated mineral resources to reserves, the inability to complete a feasibility studywhich recommends a production decision, the preliminary nature of metallurgical test results,delays inobtainingor failures toobtain requiredgovernmental,environmentalorotherprojectapprovals,politicalrisks,uncertaintiesrelatingtotheavailabilityandcostsoffinancingneededinthe future, changes in equity markets, inflation, changes in exchange rates, fluctuations incommodityprices,delaysinthedevelopmentofprojects,capital,operatingandreclamationcostsvarying significantly fromestimatesand theother risks involved in themineral explorationanddevelopmentindustry,andthoseriskssetoutintheCompany’spublicdocumentsfiledonSEDAR.AlthoughtheCompanybelievesthattheassumptionsandfactorsusedinpreparingtheforward-lookinginformationinthisnewsreleasearereasonable,unduerelianceshouldnotbeplacedonsuchinformation,whichonlyappliesasofthedateofthisnewsrelease,andnoassurancecanbegiventhatsucheventswilloccurinthedisclosedtimeframesoratall.TheCompanydisclaimsanyintentionorobligationtoupdateorreviseanyforward-lookinginformation,whetherasaresultofnewinformation,futureeventsorotherwise,otherthanasrequiredbylaw.