Viva Gold Commences Technical Study at its Tonopah Gold Project in Nevada

(TheNewswire)

VANCOUVER, BC – TheNewswire -  February 18, 2026 –Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleasedto report that it has commenced a comprehensive Technical Study forits 100%-owned Tonopah Gold Project (“Tonopah,” or “Project”)located near the town of Tonopah, Nevada. The study is expected to becompleted to a Pre-Feasibility (“PFS”) level, with certaincomponents of the study anticipated to meet Feasibility-levelstandards.

Advancing Tonopah into this next phase represents animportant step in the systematic progression of the Project, buildingon prior economic and technical work. The study is designed to furtherrefine mine design, processing options, capital and operating costs,and permitting pathways, while continuing to reduce technical andexecution risk.

“We believe that advancing the Tonopah Gold Projectinto a formal Technical Study is a meaningful step toward unlockingadditional value, significantly de-risking the project by establishinga detailed mine plan, capital and operating cost framework, and adeclared Proven and Probable mineral reserve. Importantly, the studyis expected to provide a clear roadmap toward permitting and capitalefficient mine development. We anticipate completing this study overthe next eight to nine months,” stated James Hesketh, President& CEO.

Kappes Cassiday & Associates (“KCA”) of Reno,Nevada has been appointed as lead author of the PFS and responsiblefor metallurgy, flow sheet, plants, dry stack, heap leach,infrastructure, and capital and operating cost estimation for thosefunctions. Independent Mining Consultants of Tucson, Arizona will beresponsible for resources, reserves, mine design, and mine capital andoperating cost estimation. Additional specialized consultants withextensive regional experience will contribute to geotechnicalanalysis, groundwater modelling, permitting, environmental, soilstudies, and leach pad stacking and waste rock storage design.

Contractors and consultants for this project have beenselected based on their strong experience and familiarity in Nevadaand the Southwest US with both large- and small-scale open pit goldmine and heap leach/mill projects. This regional expertise includesfamiliarity with local infrastructure, logistics, vendor and suppliernetworks, environmental and permitting requirements, local designissues, and capital and operating cost structures.

Relative to Viva’s June 2025 Preliminary EconomicAssessment, the current Technical Study is expected to incorporaterefinements, including:

• Updated resource model to include new geologic ordrilling information.  

• A mine plan emphasizing accelerated access tonear-surface, higher-grade mill feed while stockpiling early low-gradeheap leach material. 

• Staged capital investment focusing on early high returnmill operations while deferring low-grade leach production to later inthe mine life.  

• Coarser crush size for heap leach production to reduceboth capital and operating cost. 

• Trade-off study on contract versus owner mining, butwith a focus on ore control for  segregation of high- and low-gradegold mineralization for selective heap leach and mill processing.    

• Optimize pit slope angles utilizing updated geologic,structural and hydrologic information.  

• Use of PFS to write a Plan of Operations required tocommence project permitting.    

• Collectively, these refinement are intended to furtherimprove project definition, enhance capital efficiency, and supportthe orderly advancement of Tonopah toward permitting anddevelopment. 

About Viva Gold Corp:

Viva Gold’s 100% owned Tonopah gold project sits inthe middle of gold mining country about a half hour drive south of theRound Mountain mine owned by Kinross Gold and controls a major landposition on the prolific Walker Lane Trend in Western Nevada. Viva hasdeveloped a high confidence level gold MineralResource and can demonstrate the potential for an economically viableopen pit, heap leach/mill gold project through rigorous PEA study.Viva Gold is committed to developing the Tonopah Gold Project in anenvironmentally and socially responsible fashion. These values arealigned with management’s core values and permeate throughout ourdecision-making process.

Viva Gold is led by CEO JamesHesketh, a 40-year veteran in the mining space who has led thedevelopment and construction of eight other mines around the worldthroughout his career. James has surrounded himself with equallyexperienced mining professionals both on the management team and theboard.

Viva Gold trades on the TSX Venture exchange “VAU”,on the OTCQB "VAUCF" and on the Frankfurt exchange"7PB". Viva currently has ~172 million shares outstandingand boasts a best-in-class management team and board with decades ofgold exploration and production experience. The Company is advancingits high-grade Tonopah Gold Project in mining friendly Nevada with thesupport of several institutional shareholders. More information can befound on https://www.Sedar.Com and please visit our website: www.vivagoldcorp.com.

James Hesketh, MMSA-QP, hasapproved the scientific and technical disclosure contained in thispress release. Mr. Hesketh is not independent of the Company; he is anOfficer and Director.

For further information please contact:

James Hesketh, President &CEO

(720) 291-1775

jhesketh@vivagoldcorp.com

Graham Farrell, InvestorRelations

(416) 842-9003

graham.farrell@vivagoldcorp.com

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 forward-looking information related toMineral Resource estimates for the Project. The material factors thatcould cause actual results to differ materially from the conclusions,estimates, designs, forecasts or projections in the forward-lookinginformation include any significant differences from one or more ofthe material factors or assumptions that were set forth in this pressrelease including geological and grade interpretations and controlsand assumptions and forecasts associated with establishing theprospects for economic extraction of gold mineral resource andpreliminary economic analysis at the Tonopah Gold Project. Thisforward-looking information entails various risks and uncertaintiesthat are based on current expectations, and actual results may differmaterially from those contained in such information. Theseuncertainties and risks include, but are not limited to, the strengthof the global economy, inflationary pressures, pandemics,  and issuesand delays related to permitting activities; the price of gold;operational, funding and liquidity risks; the potential for achievingtargeted drill results, the degree to which mineral resource estimatesare reflective of actual mineral resources; the degree to whichfactors which would make a mineral deposit commercially viable arepresent; the accuracy of capital and operating cost estimates; thevariability of actual from estimated gold recovery; potential forgeotechnical issues; the risks and hazards associated with drillingand mining operations; and the ability of Viva to fund its capitalrequirements. Risks and uncertainties about the Company’s businessare more fully discussed in the Company’s disclosure materials filedwith the securities regulatory authorities in Canada available atwww.sedar.com. Readers are urged to read thesematerials. Viva assumes no obligation to update any forward-lookinginformation or to update the reasons why actual results could differfrom such information unless required by law.

Cautionary Note toInvestors --- Investors arecautioned not to assume that any "measured mineralresources", "indicated mineral resources", or"inferred mineral resources" that the Company reports inthis news release are or will be economically or legally mineable.United States investors are cautioned that while the SEC nowrecognizes "measured mineral resources", "indicatedmineral resources" and "inferred mineral resources",investors should not assume that any part or all of the mineraldeposits in these categories will ever be converted into a highercategory of mineral resources or into mineral reserves.  These termshave a great amount of uncertainty as to their economic and legalfeasibility.  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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