Viva Gold Starts Comprehensive Technical Study at Tonopah Gold Project

James Hesketh, President and CEO of Viva Gold Corp., announced the company has launched a comprehensive Technical Study at its 100%-owned Tonopah Gold Project near Tonopah, Nevada, citing a 14,000-meter CSAMT geophysical program and BLM approval for 23 new drill sites that the company says will support imminent drilling to upgrade high-grade inferred resources. The company’s release said drilling was “expected to commence later this month” and set an internal completion target of 8-9 months for the study.

“We believe that advancing the Tonopah gold project into a formal Technical Study is a meaningful step toward unlocking additional value, significantly derisking the project by establishing a detailed mine plan, capital and operating cost framework, and a declared Proven and Probable mineral reserve. Importantly, the study is expected to provide a clear road map toward permitting and capital efficient mine development. We anticipate completing this study over the next eight to nine months,” Hesketh said. The press release also states: “James Hesketh, MMSA‑QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.”

Viva Gold positioned the Technical Study to advance the project toward a Pre-Feasibility Study (PFS) level while noting that certain components are anticipated to meet Feasibility-level standards. Company materials reference the firm’s July 7, 2025 PEA and the August 20, 2025 NI 43-101 Technical Study filed on Sedar, which demonstrated potential for an economically viable open-pit, heap-leach/mill operation; the current study aims to produce a detailed mine plan, a capital and operating cost framework, and a declared Proven and Probable mineral reserve.

Field programs described in the Feb. 18, 2026 release include a 14,000-meter controlled-source electromagnetic (CSAMT) survey intended to map subsurface resistivity related to silica emplacement during gold deposition, plus BLM-approved drilling in and around the PEA-design pit and at the Midway Hills prospect located about 1.4 kilometers northwest of the main pit area. The company said the drilling focus will be converting remaining high-grade inferred mineral resource in the PEA pit area to measured and indicated categories.

Permitting and baseline work cited in the corporate presentation and release include a Baseline Needs Assessment Meeting with the U.S. Bureau of Land Management, biologic studies the company describes as “substantially complete and accepted by BLM” with “No Sage Grouse or Desert Tortoise habitat,” more than seven years of quarterly water sampling, completed seeps and springs studies, geochemical rock characterization testwork approved by BLM, and an archaeological update noted as greater than 50 percent complete. Hydrologic pump tests are listed as completed with additional testing planned, and a slide in the corporate presentation previously listed pit and stormwater disposal options as scheduled for completion in 2025.

Viva Gold’s corporate materials highlight infrastructure advantages at Tonopah including paved road access, commercial power and water, and proximity about a half-hour drive south of the Round Mountain mine owned by Kinross Gold. The presentation describes the Project as “the most advanced unpermitted gold development project in Nevada’s prolific Walker Lane Trend not owned by a major mining company.”

Market and corporate details in the Feb. 18, 2026 market snapshot show Viva Gold with approximately 172,042,091 shares issued, a close of C$0.17 on Feb. 18, 2026 and a market capitalization of C$29,247,155 according to Stockwatch. The company trades under TSXV: VAU, OTCQB: VAUCF and Frankfurt: 7PB. For further information listed in the release, contact James Hesketh at (720) 291-1775.