Viva Gold Amends Financing Terms

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VANCOUVER, BC / ACCESSWIRE / June 11, 2021 / Viva Gold Corp. ("Viva" or the "Company") (TSXV:VAU) announces that it is amending certain non-financial terms of its brokered private placement disclosed in the Company's May 7 2021 press release pursuant to which it is offering up to 19,047,619 units of the Company ("Units") at $0.21 per Unit for gross proceeds of up to $4,000,000 (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Unit Share") and one common share purchase warrant (a "Warrant"), each exercisable for one common share (a "Warrant Share"). Research Capital Corporation (the "Agent") is the sole agent and sole bookrunner, and has been granted the option to increase the size of the Offering by up to 15%.

On May 18, 2021, the Company received a Notice of Requisition of Meeting, compelling the Company to call a special general meeting (the "Special Meeting") to transact the shareholder business stated in the Requisition. The Company has set August 17, 2021 as the date for the Special Meeting. Details of the Special Meeting are set out in the Company's June 8, 2021 management information circular filed under the Company's SEDAR issuer profile.

As a condition of the Offering, the TSX Venture Exchange ("TSXV") requires that the Unit Shares and, if applicable, any Warrant Shares ("Voting Restricted Shares") be excluded from voting on those matters to be considered at the Special Meeting, or any meeting of the Company's shareholders held in lieu thereof (the "Voting Restriction"). Any votes attaching to Voting Restricted Shares (or to any Viva voting securities issued to the Agent in payment of Offering fees or commissions upon exercise of any compensation options issued to the Agent) will be excluded from the voting tabulation for the Special Meeting. The Voting Restriction will be in effect from the closing of the Offering until the earlier of two clear business days after the completion of the Special Meeting and September 22, 2021. As an additional condition of the TSXV, the Offering will not close before June 18, 2021.