Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”) has retained its 51% controlling interest in the Diamond Mountain phosphate project (“Diamond Mountain”) located in Utah, USA and allowed the previously announced agreement to vend its interest to Xplore Resources Ltd. (TSXV: XPLR) (“Xplore”) to expire.
Diamond Mountain is an advanced stage exploration project consisting of approximately 550 hectares of State claims. The June 7th, 2022 agreement to vend the Company’s participation in Diamond Mountain was subject to Xplore completing a minimum C$5 million financing by September 30th, 2022, customary closing conditions and receipt of all necessary regulatory approvals, including TSX Venture Exchange approval.
Revival Gold is evaluating its alternatives with respect to Diamond Mountain.
