Revival Gold Closes $9 Million Private Placement and Announces Strategic Relationship With Orion Mine Finance - Seite 3

Early Warning Reports

As part of the Private Placement, Orion has acquired, through Orion Mine Finance II LP, a limited partnership managed by Orion Mine Finance Management II Limited, 4,167,000 Units at a price of $0.60 per Unit for an aggregate purchase price of $2,500,200, making its holdings in the Company 6,250,500 Shares (assuming the exercise in full of the Warrants) or approximately 14.6% of the total issued and outstanding Shares on the partially diluted basis. Prior to the Private Placement Orion held no securities of the Company.

Mr. Hugh Agro, President, CEO and a director of the Company is an insider of the Company as the term is defined by in applicable Canadian securities legislation. Immediately prior to the Private Placement, Mr. Agro directly or indirectly held 2,742,726 or approximately 12.3% of the then issued and outstanding Shares. As part of the Private Placement, Mr. Agro acquired 150,000 Units. Following the completion of the Private Placement, Mr. Agro holds 3,454,477 Shares (assuming the exercise in full of all convertible securities beneficially held by Mr. Agro, including the Warrants) or approximately 8.4% of the total number of issued and outstanding Shares, on a partially diluted basis.

The Units were acquired by Orion and Mr. Agro for investment purposes, and depending on market and other conditions, Orion and Mr. Agro may from time to time in the future increase or decrease their respective ownerships, control or direction over securities of the Company through market transactions, private agreements, or otherwise. For the purposes of this notice, the address of Orion is 1211 Avenue of the Americas, Suite 3000, New York, NY 10036, USA and the address of Mr. Agro is 145 King St. W - Suite 2870 Toronto, Ontario, M5H 1J8.

In satisfaction of the requirements of the National Instrument 62-104 - Take-Over Bids And Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, early warning reports respecting the acquisition of Units by Orion and by Mr. Agro will be filed under the Company's SEDAR Profile at www.sedar.com. A copy of the early warning report regarding Orion's acquisition can be obtained by contacting Rick Gashler at 212-596-3497 and a copy of the early warning report regarding Mr. Agro's acquisition can be obtained by contacting the Company.