VANCOUVER, BC – TheNewswire - April 23, 2026 – Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleased to announce initial results from its 2026 reverse-circulation (“RC”) drill program, along with an update on pre-feasibility and baseline study activities at its Tonopah Gold Project (“Tonopah,” or the “Project”) in Nevada. Tonopah is 100%-owned by Viva and is located on the prolific Walker Lane Mineral Trend in western Nevada, approximately a 30-minute drive south of Kinross Gold’s Round Mountain Mine. Initial drill results have identified new areas of near surface, higher-grade mineralization, with additional assay results pending.

 

“Initial drilling has identified new zones of shallow, higher-grade mineralization within the southeast portion of the 2025 PEA resource pit area. We believe that these results are likely to add to high-grade starter-pit mineralization for early mining in an area that was previously only sparsely drilled and that contained much of the remaining inferred mineralization within the main pit,” stated James Hesketh, President & CEO. “We continue to define the Project’s broader exploration potential while pre-feasibility work is advancing as planned, with ongoing data validation and additional studies underway to support completion in the fourth quarter of 2026.”

 

RC Drill Program Highlights

Fifteen drill holes totaling 2,407 m have been completed to date in the 2026 RC drill program. Assay results have been received for holes TG2601 to TG2604, and an initial 10-sample batch has been completed for TG2608, with remaining results pending. Turnaround times for assays have increased from approximately three weeks to five to six weeks. Initial highlights include:

 

• TG2601: 22.9 meters (m) 1.3 grams per tonne (g/t) gold (Au) from 64 m depth, including 4.6 m @ 4.6 g/t Au 

• TG2603: 15.2 m @ 1.2 g/t Au from 88.3 m depth, including 3.0 m @ 2.6 g/t Au 

• TG2608: 12.2 m @ 1.6 g/t Au from 29 m depth (partial results received; additional assays pending). 

 

Results to date define the potential for two new zones of higher-grade gold mineralization starting near surface. Six holes, including TG2601 and TG2603, were drilled along a 300 m trend that dips to the southeast between historical hole TG2422 on the northwest end (30.5 m @ 2.3 g/t Au from 53 m depth) and MW-81 on the southeast end (12.2 m @ 2.24 g/t Au from 108 m depth; drilled in 1994). A second potential zone has been identified in TG2608, which intersected mineralization starting at 29 m depth. Additional completed holes are expected to further refine and confirm these zones as remaining assays are received.

 

The drill program focuses on expanding and infilling gold mineralization, with the objective of upgrading inferred resources and supporting potential conversion to mineral reserves in the pre-feasibility study.

  

Technical Study

Pre-feasibility study work has commenced at Tonopah, including site visits by the Qualified Persons (“QPs”) who will sign off on the study. Current efforts are focused on validating the Project databases and reviewing prior resource estimation and 2025 PEA work. Detailed resource estimation is expected to commence as additional assay results from the current drill program become available.

 

Two additional oxide gold recovery column tests commenced on March 3rd, based on a coarse crush size of 37 mm. Metallurgical test work used in the 2025 PEA was completed at a finer crush size (80% passing 12 mm). Initial results indicate the potential for improved processing parameters and, if successful, may demonstrate the potential to use a coarser crush size for heap leaching, which may help to reduce both capital and operating costs.

 

An updated geotechnical study has been completed to establish preliminary slope angles for use in open-pit mine design for the pre-feasibility study. The work incorporates updated structural and lithologic geologic models, results from rock-strength testing, and groundwater and hydrologic information collected over the past three years, including pumping test results. The results modify certain pit slope angles relative to those used in the 2025 PEA. These preliminary slope angles may be refined further based on additional hydrologic modelling planned in this year’s work program.

 

The pre-feasibility study remains on track for completion in the fourth quarter of 2026.

 

Baseline Study Work

An updated baseline golden eagle and raptor study commenced in February 2026. The program includes both ground and aerial surveys. Two consecutive survey seasons are required as part of the National Environmental Policy Act (“NEPA”) and US Fish & Wildlife Service  review process.

 

The Company has submitted Work Plan #45 to the U.S. Bureau of Land Management for approval to drill a test well and monitoring points. The program is intended to support additional pumping tests, excess water reinfiltration tests, and subsurface hydrologic modelling at the Project site. This modelling is required for the NEPA, and Nevada Division of Environmental Protection, permitting processes and will also be used to assess the impact of subsurface hydrology on pit slope stability.

 

Exploration

A total of 14,000 m of new Controlled Source Audio Frequency Magnetotellurics (“CSAMT”) surveying has been completed in the western portion of the Project area. The survey indicates several major faults with coincident zones of high resistivity. At Tonopah, the combination of faulting and elevated resistivity has been associated with gold mineralization based on modelling of prior CSAMT work and its correlation with areas known to host gold mineral resources on the Project. Viva is developing a follow-up plan to further assess these targets.

 

An initial field review of Viva’s 38 new NWG claims, located northwest of the main resource area, returned positive hand-sample assay results of up to 4.3 g/t Au. Additional field work is planned as time permits.

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Quality Assurance/Quality Control

Viva Gold utilizes a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody for samples taken by the Company. Assays taken by the Company are completed at independent laboratories which have internal quality assurance and quality control systems and procedures. Assays were performed by American Assay Laboratories Inc. of Reno, Nevada, by fire assay and ICP methods with gravimetric finish.

Qualified Person

James Hesketh, MMSA-QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.

 

About Viva Gold Corp:

Viva Gold’s 100%-owned Tonopah Gold Project is located within a large land position in established gold-mining country on the prolific Walker Lane Structural Trend in western Nevada, approximately a 30-minute drive south of Kinross Gold’s Round Mountain Mine. Viva has defined a high-confidence gold mineral resource and has demonstrated the potential for an economically viable open-pit, heap leach/mill gold project through its 2025 preliminary economic assessment (“PEA”). Viva Gold is committed to advancing the Tonopah Gold Project in an environmentally and socially responsible manner, consistent with management’s core values.

 

Viva Gold is led by CEO James Hesketh, a 40-year mining industry veteran who has led the development and construction of eight mines globally. The Board and management team include experienced mining professionals with expertise in exploration, project development, construction, and mine operations.

Viva Gold trades on the TSX Venture Exchange (“VAU”), the OTCQB (“VAUCF”), and the Frankfurt Exchange (“7PB”). Viva currently has approximately 172 million shares outstanding. The Company is advancing its Tonopah Gold Project in mining-friendly Nevada with the support of institutional shareholders. More information is available on https://www.sedar.com and at www.vivagoldcorp.com.

 

For further information please contact:

James Hesketh, President & CEO

(720) 291-1775

jhesketh@vivagoldcorp.com

Graham Farrell, Investor Relations

(416) 842-9003

graham.farrell@vivagoldcorp.com

 

Forward-Looking Information :

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian securities legislation (collectively, “forward-looking information”), including but not limited to drilling operations and estimates of gold mineral resource at the Tonopah Gold Project. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy, inflationary pressures, pandemics,  and issues and delays related to permitting activities; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital requirements. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada available at www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

 

Cautionary Note to Investors --- Investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this news release are or will be economically or legally mineable. United States investors are cautioned that while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves.  These terms have a great amount of uncertainty as to their economic and legal feasibility.  Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances.  Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility.  It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category. The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized.

Neither 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.