What Revival Gold does

Revival Gold Inc. is a Canadian-incorporated, Toronto-headquartered growth-focused gold exploration and development company that positions itself as one of the largest pure gold mine developers in the United States. Its core assets are the Mercur Gold Project in Tooele and Utah Counties, Utah (~7,200 net hectares) and the Beartrack-Arnett Gold Project in Lemhi County, Idaho (~6,300 net hectares), together hosting 3.2 million ounces of Measured & Indicated and 2.8 million ounces of Inferred gold resources. The company is advancing both projects toward staged heap leach production targeting a combined 160,000 ounces of gold per year — 95,000-105,000 oz/year from Mercur over a 10-year mine life and 65,300 oz/year from Beartrack-Arnett over an 8-year mine life — leveraging existing infrastructure at both past-producing sites to reduce capital intensity.

The underlying technology is conventional open-pit mining combined with cyanide heap leach gold processing and ADR (adsorption/desorption-recovery) circuits, supported by RC and core drilling, resource modeling, and metallurgical testing. Revival Gold holds a 2% net smelter return royalty payable to Barrick Gold on the consolidated Mercur property. The company is pre-revenue and generates no operating cash flow; it funds exploration, feasibility studies, and project advancement entirely through equity financings on the TSX Venture Exchange (ticker RVG) and OTCQX Market (ticker RVLGF), supported by strategic shareholders EMR Capital Management (13.2% post-May 2026 raise) and Dundee Corporation, alongside approximately 10% insider ownership.

The business model is development-stage capital markets engagement: the company raises equity through brokered and non-brokered private placements to advance its two heap leach projects toward a construction decision at Mercur within two years and first production targeted for 2029. Its end customers — once production begins — will be gold refiners purchasing at prevailing spot prices, providing direct leverage to gold prices which have been trading near $4,700/oz according to the company's website. It also divested a 51% non-core interest in the Diamond Mountain Phosphate Project in June 2026 to focus exclusively on the gold portfolio.

Name

Revival Gold

Legal name

Revival Gold Inc.

Website

https://revival-gold.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Revival Gold Inc. is a Canadian-incorporated, pre-revenue gold mine developer advancing the Mercur (Utah) and Beartrack-Arnett (Idaho) past-producing projects toward staged heap leach production of 160,000 oz/year, funded through equity financings and targeted at institutional and strategic mining investors.

Ownership category

akta.pro rank

Product category

Gold Mining & Development

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Gold mining development
• Gold exploration
• Heap leach extraction
• Mineral resource development
• Mining project development

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Gold Production & Sales: Revival Gold is pre-revenue. Once Mercur and Beartrack-Arnett reach production, revenue will be generated from the sale of refined gold produced via heap leach operations. Mercur is planned at 95,000-105,000 oz/year (10-year mine life) and Beartrack-Arnett at 65,300 oz/year (8-year mine life). Gold will be sold at prevailing spot prices, providing commodity-price leverage.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Revival Gold is a development-stage gold mining company advancing two past-producing U.S. gold projects — the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho — toward open-pit heap leach gold production. The company conducts exploration drilling, resource definition, metallurgical testing, and engineering studies (PEA/PFS) on Carlin-type and orogenic gold deposits, with a staged development plan targeting 160,000 oz/year of gold output. The company is pre-revenue and funds project advancement through equity capital markets.

Product overview

Revival Gold is a pure-play U.S. gold mine developer with two primary gold projects: the Mercur Gold Project in Utah (acquired in 2024) and the Beartrack-Arnett Gold Project in Idaho. The company completed PEA studies on both projects for heap leach gold production, targeting annual output of approximately 95,000-105,000 oz/year from Mercur and 65,300 oz/year from Beartrack-Arnett. The company also held a 51% interest in the Diamond Mountain Phosphate Project in Utah, which was sold in June 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Mercur Gold Project A past-producing Carlin-type gold deposit located in Tooele and Utah Counties, Utah. The project comprises approximately 7,200 net hectares and is advancing through a preliminary feasibility study for an open-pit heap leach operation targeting 95,000-105,000 oz of gold per year over a 10-year mine life. Production is targeted for 2029. The asset is for institutional and strategic investors seeking exposure to U.S. gold development.
• Beartrack-Arnett Gold Project The largest past-producing gold mine in Idaho, located in Lemhi County. The project has a completed preliminary feasibility study on an open-pit heap leach restart targeting 65,300 oz of gold per year over an 8-year mine life, with ongoing exploration for high-grade underground resources. Beartrack-Arnett has a Measured & Indicated Resource of 86.2 million tonnes at 0.87 g/t (2.42Moz gold) and an Inferred Resource of 50.7 million tonnes at 1.34 g/t (2.19Moz gold).

Quantifiable outcome

• Mercur: after-tax NPV5% of $295M and 27% IRR at $2,175/oz gold; rising to $1.3B NPV at $4,000/oz gold
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Kappes Cassiday & AssociatesminorImplementation/ SI/ Consulting Partner · 14 May 2026Metallurgical testing for the Mercur Pre-Feasibility Study is being conducted at Kappes Cassiday & Associates in Nevada. Kappes Cassiday is a well-established metallurgical engineering and consulting firm specializing in heap leaching and gold processing.
• Equity Catalyst Partners, LLCminorImplementation/ SI/ Consulting Partner · 14 May 2026Engaged for investor relations services at US$7,500 per month for a six-month term, supporting capital markets communications and investor outreach.
• Paradigm Capital Inc.minorChannel Partner/ Reseller/ Distributor · 6 May 2026Sole bookrunner for the $33M brokered private placement (May 2026), leading the capital raise as the investment bank's capital markets division. Paradigm Capital is a Canadian investment bank specializing in mining and energy sectors.
• High Tide Consulting Corp.minorImplementation/ SI/ Consulting Partner · 28 April 2026Arm's-length service provider engaged for investor relations and marketing services alongside Equity Catalyst Partners.
• Barrick Gold Exploration Inc.coreStrategic or Co-development Partner · 2 April 2026Revival Gold closed acquisition of Mercur Mines LLC (formerly Barrick Resources USA Inc.) from Barrick Gold Exploration Inc. on April 2, 2026, adding ~996 hectares to Mercur (total ~7,200 ha). Paid $5M cash on closing with $15M in installments tied to commercial production milestones, and granted a 2% net smelter return royalty to Barrick Gold.
• Ensign Minerals Inc.coreStrategic or Co-development Partner · 10 April 2024Revival Gold acquired Ensign Minerals Inc. in April 2024 through a share transaction, acquiring the Mercur Gold Project assets. The deal included a concurrent C$7M equity financing. Ensign Minerals held the primary ownership of the Mercur project interests, which were consolidated into Revival Gold.
• Computershare Investor Services Inc.minorOthersTransfer agent for Revival Gold's share registry, located at 8th Floor, 100 University Avenue, Toronto, Ontario M5J 2Y1. Toll Free: 1-800-564-6253.
• Marrelli Trust Company Ltd.minorOthersWarrant transfer agent for Revival Gold, via DSA Corporate Services Ltd. Partnership, 82 Richmond St East, 2nd Floor, Toronto, Ontario M5H 1P1.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Kinross Gold: Senior gold producer with operations in the U.S. (including Bald Mountain) and globally. Revival Gold CEO Hugh Agro and VP John Meyer both held senior roles at Kinross, and the company is a natural acquirer profile for U.S. heap-leach ounces.
• Coeur Mining: U.S.-listed precious metals producer with operations across North America. Comparable to Revival Gold as a U.S.-focused gold/silver platform with active project development and acquisition appetite.
• Alamos Gold: Established mid-tier gold producer with operations in North America (including Mulatos in Mexico, acquired via Richmont Mines). Alamos is a natural acquirer profile and a benchmark for what Revival Gold could become at the 160,000 oz/yr stage.
• Hecla Mining: Long-standing U.S. precious metals producer with a diversified portfolio of gold and silver mines. Revival Gold director Larry Radford was previously COO of Hecla, providing direct operating overlap.

Direct peers

• Liberty Gold: Development-stage gold company focused on open-pit heap leach projects in the U.S. Great Basin (Black Pine in Idaho). Directly comparable in stage, jurisdiction, processing route, and resource scale to Revival Gold's two assets.
• New Gold: Intermediate gold producer with operations in the Americas. Revival Gold director Robert Chausse was formerly CFO of New Gold, and the company shares a similar intermediate/producer profile in the Canadian-listed gold space.
• Perpetua Resources: U.S.-focused gold developer advancing the Stibnite gold-antimony project in Idaho. Revival Gold's VP Engineering John Meyer previously led Stibnite, and both companies sit in the same development-stage, U.S.-permitted bucket of gold equities.
• Gold Standard Ventures: U.S. gold developer advancing oxide/heap leach projects in Nevada. Highly comparable to Revival Gold as a similarly sized, similarly staged, U.S.-jurisdiction developer targeting open-pit heap leach production.
• Calibre Mining: Mid-tier gold producer that acquired Fiore Gold for $151M, demonstrating active M&A appetite for U.S. heap-leach assets of the kind Revival Gold is developing at Beartrack-Arnett and Mercur.
• Argonaut Gold: Mid-tier North American gold producer with multiple open-pit/heap leach operations in the U.S. and Mexico. Revival Gold's lead director Larry Radford was formerly Argonaut's CEO, and the two companies share a similar junior-developer profile and tier of asset.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/revivalgoldinc
• Facebookfacebook.com/RevivalGoldInc
• LinkedInlinkedin.com/company/revival-gold-inc
• Instagraminstagram.com/revival_gold_inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Revival Gold