(TheNewswire)
V ancouver , BC - TheNewswire - January 10, 2023 - Viva Gold Corp.( TSXV:VAU ) ( OTC:VAUCF ) (the “ Company ” or “ Viva ”) announcesthat it has granted, pursuant to its stock option plan, a total of 2,750,000 stock options to directors, officersand consultants. The incentive stock options have an exercise price ofC$0.155 per share and expire three years after the grant date. Thevesting schedule is as follows: 50% of the options vest immediatelyand the remaining options vest 25% of the total grant, at the one-yearand two-year anniversary dates until fully vested. The Board ofDirectors of Viva Gold are typically compensated via stock options.
About Viva Gold Corp:
Viva Gold Corp’s (TSX-V: VAU; OTCQB: VAUCF; Frankfurt:7PB) principal asset is its 100% ownership in the Tonopah GoldProject (Tonopah), a large land position on the world class WalkerLane Mineral Trend in western Nevada, located about 30 minutes’drive southeast of the Kinross Round Mountain gold mine. The projectis well advanced with a positive Preliminary Economic Assessment (PEA)describing a potential open pit, heap leach gold recovery operationand a pit confined measured and indicated gold mineral resourcescontaining 394,000 ounces at 0.78 grams/tonne and 206,000 ounces ofInferred resource at 0.87 grams/tonne. The principal mineral trends onthe property remain open for extension and the company has a trackrecord of steadily increasing gold resource over the last four years.Viva is building market awareness as it advances Tonopah towardsfeasibility study and permitting and has made a significant commitmentto ESG and de-risking the project through open community disclosureand near completion of a number of baseline environmental andtechnical studies.
Viva has a solid capital structure with 91.6 millionshares outstanding and a strong management team and board who canclaim both gold exploration and production experience. Foradditional information on Viva Gold and the Tonopah Gold Project,please visit our website: www.vivagoldcorp.com .
For further information please contact:
James Hesketh, President &CEO
(720) 291-1775
Anne Hite, Director InvestorRelations
(303) 519-5149
Forward-Looking Information:
This news release contains certaininformation that may constitute forward-looking information orforward-looking statements under applicable Canadian securitieslegislation (collectively, “forward-looking information”),including but not limited to drilling operations and estimates of goldmineral resource at the Tonopah Gold Project. This forward-lookinginformation entails various risks and uncertainties that are based oncurrent expectations, and actual results may differ materially fromthose contained in such information. These uncertainties and risksinclude, but are not limited to, the strength of the global economy,inflationary pressures, pandemics, and issues and delays related topermitting activities; the price of gold; operational, funding andliquidity risks; the potential for achieving targeted drill results,the degree to which mineral resource estimates are reflective ofactual mineral resources; thedegree to which factors which would make a mineral depositcommercially viable are present; the risks and hazards associated withdrilling and mining operations; and the ability of Viva to fund itscapital requirements. Risks and uncertainties about the Company’sbusiness are more fully discussed in the Company’s disclosurematerials filed with the securities regulatory authorities in Canadaavailable at www.sedar.com . Readersare urged to read these materials. Viva assumes no obligation toupdate any forward-looking information or to update the reasons whyactual results could differ from such information unless required bylaw.
Cautionary Note toInvestors --- Investors are cautioned not to assume thatany "measured mineral resources", "indicated mineralresources", or "inferred mineral resources" that theCompany reports in this news release are or will be economically orlegally mineable. United States investors are cautioned that whilethe SEC now recognizes "measured mineral resources","indicated mineral resources" and "inferred mineralresources", investors should not assume that any part or all ofthe mineral deposits in these categories will ever be converted into ahigher category of mineral resources or into mineral reserves. Theseterms have a great amount of uncertainty as to their economic andlegal feasibility. Under Canadian regulations, estimates of inferredmineral resources may not form the basis of feasibility orpre-feasibility studies, except in limited circumstances. Further,"inferred mineral resources" have a great amount ofuncertainty as to their existence and as to their economic and legalfeasibility. It cannot be assumed that any part or all of aninferred mineral resource will ever be upgraded to a higher category.The mineral reserve and mineral resource data set out in this newsrelease are estimates, and no assurance can be given that theanticipated tonnages and grades will be achieved or that the indicatedlevel of recovery will be realized.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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