Announcement • Mar 03
Viva Gold Corp., Annual General Meeting, Apr 28, 2026 Viva Gold Corp., Annual General Meeting, Apr 28, 2026. Location: british columbia, langley Canada Announcement • Jan 17
Viva Gold Corp. Initiates Work Programs and Resource Expansion Initiatives Viva Gold Corp. announced that the Company has commenced work to advance its 100% owned Tonopah project into feasibility work, while also taking steps to demonstrate additional potential to increase gold and silver mineral resource at the Project. Tonopah is in the heart of the prolific Walker Land Trend in Nevada and is approximately 20 minutes' drive from the town of Tonopah, Nevada, and half hours' drive from Kinross Gold's Round Mountain gold mine. Initial work programs commenced by Viva in 2026 include: Viva has submitted a proposed work plan (WP#44) under its existing Programmatic Agreement to the US Bureau of Land Management for approval of up to 23 drill locations. The primary goal of this work is to infill remaining areas of high-grade (>1.0 gram per tonne ("gpt")) inferred mineralization within the 2025 PEA pit shell for potential conversion to measured and indicated material while also following up on identified high-grade extensions to the resource pit. Additional drillhole locations are planned in the Midway Hills prospect area of the project, about 1.4 kilometers to the west of the main pit, to validate and deepen existing drilling completed in the 1980's. Drilling is expected to commence in February. A series of bottle roll tests are currently underway to test heap leach gold recovery potential at a coarse crush size (36mm) for low-grade gold mineralization (0.4 gpt Au) at the Project. A crush size of approximately 12.5mm was used in the 2025 PEA study costing. This work, if successful, will be followed by column leach testwork. Coarse crush has the potential to reduce both capital and operating costs for heap leach operations at Tonopah. Viva is currently developing scopes of work and holding discussions with engineering companies experienced in pre-feasibility/feasibility evaluations for gold development projects in Nevada. A key focus will be to assess the accelerated development of high-grade gold mineralization in the pit to initiate early CIL mill production while deferring the heap leaching of low-grade gold mineralization. This processing schedule would defer initial capital costs for the heap-leach circuit and should accelerate initial capital payback. The unique nature of the Tonopah gold deposit allows this segregation to be considered. Viva has solicited quotes from its existing geotechnical and hydrological consultants for studies to include work on optimizing pit slope angles, pit dewatering requirements, stormwater and pit water disposal options, as well as hydrologic modelling. This work is required to support both feasibility study and development permitting and will incorporate all information collected over the last five years of project work at Tonopah. In late 2025, Viva commissioned a third-party independent review of all available historical exploration data available on the Tonopah property and its near proximity with the goal of identifying additional exploration opportunities for resource expansion. A total of seven areas were identified for additional review. One of these areas, Midway Hills, was partially drilled in the 1980's with gold discovery that has not been followed up. Viva has contracted a geophysical company to complete an additional 14,000 meters of CSAMT geophysical survey with field work to be completed over the next two months to help better define several of the identified targets. CSAMT was a key tool used in the original discovery of the Tonopah deposit. New Risk • Jan 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 29% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.0% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (CA$33.5m market cap, or US$24.4m). 
