Viva Gold expands gold mineralization at Tonopah

Latest RC drilling extends the new southeast pit area and confirms a new block of gold mineralization on the south side of the deposit; first 15 holes now being incorporated into an updated resource model   VANCOUVER, BC – TheNewswire - June 23, 2026 – Viva Gold Corp ( TSXV: VAU; OTCQB: VAUCF ) (the “ Company” or “ Viva” ) is pleased to announce additional results from the 2026 reverse-circulation (“ RC” ) drill program at its Tonopah Gold Project (“ Tonopah,” or the “ Project” ). Tonopah 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. Building on previously announced results, today’s results continue to extend known gold mineralization and define new mineralized areas across the deposit – reinforcing the momentum of a program that has returned consistent gold intercepts across the first fifteen holes drilled.   “With each batch of results, the picture at Tonopah gets bigger and clearer.

TG2614 defined the width extent of the new southeast trend, while TG2615 builds directly on our earlier TG2608 intercept to establish a new block on gold mineralization of the south side of the deposit. The first fifteen holes of this program are now being incorporated into our updated resource model, and we are encouraged by what we are seeing,” stated James Hesketh, President & CEO .   With assays in hand for fifteen of the nineteen holes, and results for the remaining four expected in the coming weeks, the 2026 program is feeding directly into the updated resource model that will underpin the Company's pre-feasibility study, targeted for Q4 2026.   RC Drill Program Highlights   Highlights of our latest assay returns include:   TG2615 : 56.4 m @ 0.35 g/t Au in two zones starting at 32 meters depth   TG2614 : 19.8 m @ 1.01 g/t Au in four zones starting at 51.8 meters depth;   TG2612: 7.6 m @ 0.34 g/t Au in two zones starting at 56.4 meters depth.     This drill program was designed to infill and upgrade areas of inferred gold mineral resource and undrilled areas currently carried as waste within our 2025 PEA resource pit shell. Additional drilling was performed on open extensions to mineralization outside the PEA pit shell.

Nineteen drill holes totaling 3,210 meters have been completed in this program including three exploration holes drilled in the Midway Hills prospect area at Tonopah. Assay results have been received for holes TG2601 to TG2615 with assay returns pending for the remaining four drill holes. Click Image To View Full Size       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”). Pre-feasibility study (PFS) has been initiated on the project with a final report due in fourth quarter of 2026. 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.   Copyright (c) 2026 TheNewswire - All rights reserved.

TheNewsWire June 23, 2026 - 4:00 AM PDT News by QuoteMedia www.quotemedia.com