Viva Gold mobilizes core rig to Midway Hills discovery in Tonopah project

VANCOUVER, BC – TheNewswire - October 6, 2026 – Viva Gold Corp ( TSXV: VAU; OTCQB: VAUCF ) (the “ Company” or “ Viva” ) is pleased to provide an update on the work programs now underway at its 100%-owned Tonopah Gold Project (“ Tonopah,” or the “ Project” ). Tonopah is located on the prolific Walker Lane Structural Trend in western Nevada, approximately a 30-minute drive south of Kinross Gold’s Round Mountain Mine. With its oversubscribed C$6.5 million private placement closed in September, Viva is now advancing Tonopah on two parallel tracks: completing the Pre-Feasibility Study (“ PFS ”) and environmental baseline work required to support the mine permitting process in Nevada, while following up the high-grade Midway Hills discovery announced in July 2026.

Highlights:

Advancing Tonopah Toward Mine Permitting

The Tonopah PFS is advancing on schedule, with the mine plan design substantially complete and detailed costing underway; completion remains on track for Q4 2026.

A power supply study for the project has been commissioned with NV Energy, the electrical grid operator in Nevada.

An archaeological survey has been commissioned to cover those portions of the Tonopah land package that have never been surveyed or have not been surveyed in the last 10 years, as part of the baseline studies required for permitting.

A water well drilling rig is expected to mobilize to site to drill a second test well to use in aquifer pump-down testwork and four additional down-gradient monitoring wells to capture data for site hydrologic modelling.

Permits have been received to commence testwork to determine the ability of valley floor gravels to accept water re-infiltration, also for use in site hydrologic modelling.

The 2026 golden eagle and raptor survey report has been received and is under review for submission to regulatory agencies.

Following Up the Midway Hills Discovery

Viva is mobilizing a core rig to complete approximately 1,000 meters of drilling in three to four holes at Midway Hills. These holes will include a twin of discovery hole TG2617, to validate prior reverse circulation (“RC”) results and additional holes testing extensions to the discovery zone, with the goal of gathering additional geologic information and sample for metallurgical testing.

A geophysical firm is onsite completing an additional 18.2 line-kilometers of Phase II CSAMT* geophysical survey over the Midway Hills discovery area to help define targets for follow-up drilling.

Based on the revised geologic model defined by the Midway Hills discovery, and the potential for additional discoveries, Viva has staked 42 additional unpatented lode claims totaling approximately 840 acres in the southwestern portion of the Tonopah land package.

These programs are underway, recently completed, or expected to commence in October 2026.

“Few exploration companies ever reach the point of permitting a mine, and in Nevada that path runs through a rigorous, well-defined process,” stated James Hesketh, President & CEO . “The archaeological survey, additional hydrologic test and monitoring wells, and wildlife studies we are completing continue to build the site baseline data required to support permitting work, which we expect to commence in 2027. At the same time, our PFS remains on track for completion in 2026. These are the steps that take Tonopah from a defined resource toward a permitted mine.”

“At Midway Hills, we were fortunate to capture a core rig between moves to drill a short ~1,000-meter, three-to-four-hole program,” continued Mr. Hesketh. “One of these holes will twin TG2617 (21.4 meters at 0.32 g/t Au and 35.1 meters at 1.62 g/t Au and 16.7 g/t Ag), which was drilled by RC methods, to validate those results and to deepen the hole, since it bottomed in gold mineralization. Additional holes will be drilled as step-outs to further test the discovery zone. Core drilling, while more expensive, provides additional geologic information that, combined with the new CSAMT results, will help define targets for further drilling, and provide samples for metallurgical testwork.”

*CSAMT = Controlled source audio-frequency magnetotellurics

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). 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 213 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.

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TheNewsWire

October 6, 2026 - 4:00 AM PDT

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