Viva Gold Completes $4.2 Million Private Placement

Langley, British Columbia — December 30, 2025 — Leads & Copy — Viva Gold Corp. (TSXV: VAU; OTCQB: VAUCF) announced the completion of a non-brokered private placement on December 29, 2025, raising gross proceeds of CDN$4,183,273.

The offering, initially detailed in a news release on December 11, 2025, involved the issuance of 26,145,456 units at a price of CDN$0.16 per unit. Each unit comprises one common share of the Company and one-half of a non-transferable common share purchase warrant.

Each whole warrant allows the holder to acquire one share at an exercise price of CDN$0.24 per share until December 29, 2028, which is 36 months from the issuance date.

James Hesketh, President & CEO, stated that the support shown in this financing by both Viva’s existing and new shareholders is a vote of confidence in the future of the Tonopah Gold Project. He added that these funds will allow the Company to move aggressively into pre-feasibility/feasibility study work and ultimately into permitting, a major catalyst for Nevada mining projects.

Insiders of the Company acquired an aggregate of 6,490,956 Units in the Offering, which participation constituted a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company's market capitalization. As required by MI 61-101, the Company advises that it expects to file a material change report relating to the Offering less than 21 days before completion of the Offering, which is necessary to complete the Offering in an expeditious manner and is reasonable in the circumstances.

Viva Gold intends to use the proceeds from the offering, net of any finder’s fees, for pre-feasibility/feasibility study work at its Tonopah Gold Project. This includes required technical and environmental studies, geophysical surveys, and other geologic work, including drilling at Tonopah, and for general working capital purposes.

The Company will pay aggregate finder’s fees of CDN$84,154 and issue 525,962 share purchase warrants (the “Finder’s Warrants”) to Canaccord Genuity Corp, Research Capital Corporation, Red Cloud Securities Inc and Haywood Securities Inc. in connection with subscriptions from subscribers introduced to the Offering . Each non-transferable Finder’s Warrant is exercisable to acquire one Share in the capital of the Company at an exercise price of CDN$0.24 per Share until December 29, 2028, which is 36 months from the date of issuance.

The Offering remains subject to final approval of the TSX Venture Exchange.

Securities issued under the offering, and any shares issuable upon exercise of such securities, will be subject to a statutory hold period expiring four months and one day from the issuance date.

James Hesketh, President & CEO, (720) 291-1775, jhesketh@vivagoldcorp.com

Graham Farrell, Investor Relations, (416) 842-9003, graham.farrell@vivagoldcorp.com

Source: Viva Gold Corp.