Viva Gold Initiates Work Programs and Resource Expansion Initiatives

(TheNewswire)

VANCOUVER, BC – TheNewswire - January 14, 2026 –Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleasedto announce that the Company has commenced work to advance its 100%owned Tonopah project (“Tonopah,” or “Project”) intofeasibility work, while also taking steps to demonstrate additionalpotential to increase gold and silver mineral resource at the Project.Tonopah is in the heart of the prolific Walker Land Trend in Nevadaand is approximately 20 minutes’ drive from the town of Tonopah,Nevada, and half hours’ drive from Kinross Gold’s Round Mountaingold mine.

“The Tonopah Gold Project is one of the most advancedundeveloped gold projects in Nevada. Viva’s primary focus for 2026is to rapidly advance Tonopah through pre-feasibility/feasibilitystudy work and into development permitting. In 2025, Viva published aPreliminary Economic Analysis (“PEA”) and resource estimate atTonopah and closed the year with an equity financing to support movingthe project forward. Our 2025 PEA identified areas of work required tofurther improve project economics and to guide our feasibility studyprogram. The existing pit confined resource at Tonopah contains 86%measured and indicated material, a high confidence level mineralresource. Viva believes that this advanced project status combinedwith its advanced metallurgical and baseline environmental study workprovides the Company with a competitive advantage and the ability tostrongly leverage its current market valuation,” stated JamesHesketh, President and CEO.      

Initial work programs commenced by Viva in 2026include:

• Viva has submitted a proposed work plan (WP#44) underits existing Programmatic Agreement to the US Bureau of LandManagement for approval of up to 23 drill locations. The primary goalof this work is to infill remaining areas of high-grade (1.0 gram pertonne (“gpt”)) inferred mineralization within the 2025 PEA pitshell for potential conversion to measured and indicated materialwhile also following up on identified high-grade extensions to theresource pit. Additional drillhole locations are planned in the MidwayHills prospect area of the project, about 1.4 kilometers to the westof the main pit, to validate and deepen existing drilling completed inthe 1980’s. Drilling isexpected to commence in February.  

• A series of bottle roll tests are currently underway totest heap leach gold recovery potential at a coarse crush size (36mm)for low-grade gold mineralization (~0.4 gpt Au) at the Project. Acrush size of approximately 12.5mm was used in the 2025 PEA studycosting. This work, if successful, will be followed by column leachtestwork. Coarse crush has the potential to reduce both capital andoperating costs for heap leach operations at Tonopah.  

• Viva is currently developing scopes of work and holdingdiscussions with engineering companies experienced inpre-feasibility/feasibility evaluations for gold development projectsin Nevada. A key focus will be to assess the accelerated developmentof high-grade gold mineralization in the pit to initiate early CILmill production while deferring the heap leaching of low-grade goldmineralization. This processing schedule would defer initial capitalcosts for the heap-leach circuit and should accelerate initial capitalpayback. The unique nature of the Tonopah gold deposit allows thissegregation to be considered.    

• Viva has solicited quotes from its existinggeotechnical and hydrological consultants for studies to include workon optimizing pit slope angles, pit dewatering requirements,stormwater and pit water disposal options, as well as hydrologicmodelling. This work is required to support both feasibility study anddevelopment permitting and will incorporate all information collectedover the last five years of project work at Tonopah.          

• In late 2025, Viva commissioned a third-partyindependent review of all available historical exploration data available on the Tonopah property and itsnear proximity with the goal of identifying additional explorationopportunities for resource expansion. A total of seven areas wereidentified for additional review. One of these areas, Midway Hills,was partially drilled in the 1980’s with gold discovery that has notbeen followed up. Viva has contracted a geophysical company tocomplete an additional 14,000 meters of CSAMT geophysical survey withfield work to be completed over the next two months to help betterdefine several of the identified targets. CSAMT was a key tool used inthe original discovery of the Tonopah deposit.                    

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 Mineral Resource and candemonstrate the potential for an economically viable open pit, heapleach/mill gold project through rigorous PEA study. Viva Gold iscommitted to developing the Tonopah Gold Project in an environmentallyand socially responsible fashion. These values are aligned withmanagement’s core values and permeate throughout our decision-makingprocess.

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 ~171.7 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 differ materially from thosecontained 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 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; the degree to which factors which would makea mineral deposit commercially viable are present; the accuracy ofcapital and operating cost estimates; the variability of actual fromestimated gold recovery; potential for geotechnical issues; the risksand hazards associated with drilling and mining operations; and theability of Viva to fund its capital requirements. Risks anduncertainties about the Company’s business are more fully discussedin the Company’s disclosure materials filed with the securitiesregulatory authorities in Canada available at www.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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