January 10, 2017

Report #3Gold in Québec, Canada

Company Details

Aurvista Gold Corp.Suite 612 - 390 Bay StreetToronto, Ontario M5H 2Y2 CanadaPhone: +1 416 682 2674Email: info@aurvistagold.comwww.aurvistagold.com

Shares Issued & Outstanding: 131,162,407

Canadian Symbol (TSX.V): AVACurrent Price: $0.22 CAD (01/09/2017)Market Capitalization: $29 million CAD

German Symbol / WKN: AV2 / A1JL1ZCurrent Price: €0.142 EUR (01/10/2017)Market Capitalization: €19 million EUR

Chart Canada (TSX.V)

Chart Germany (Frankfurt)

En Route to 5 Million Ounces of GoldMajor 30,000 m drilling program to start at Douay in Québec

Today, Aurvista Gold Corp. announced the start of the phase-2 drilling program, which has been increased from the previously announced 5,000 m to now 30,000 m. The objective is to test 9 priority targets (T1-T9), as outlined during the phase-1 program, with more than 70 holes totalling 30,000 m in 3 sub-phases.

Aurvista’s only asset is the Douay Gold Project (145 km2) located along a 20 km segment of the Casa Berardi Deformation Zone in the prolific Abitibi Belt of northern Québec. Douay is located 40 km southwest of the Matagami Zinc Base Metal Camp and 150 km north of the Val-d’Or-Malartic Gold Camp (both in Québec).

Jean Lafleur, President and CEO of Aurvista, commented today:

“After more than 40 years of exploration on Douay, including the last few by Aurvista, we have finally arrived at a major crossroad. The previous path has included nearly 200,000 meters of drilling in more than 700

holes, ground and airborne geophysical surveys, infrastructure construction, all leading to the discovery of higher and lower grades gold lenses. The gold mineralization at Douay occurs within 9 individual E-W shears and 3 subparallel structural domains inside a 10 km by 3 km corridor of a 20 km long segment of the Casa Berardi Deformation Zone.

Douay has always lacked a single cohesive geological exploration model to explain in part why there is gold mineralization and its distribution. After 6 months of re-evaluating the entire database, Aurvista developed a new geological model and can now proceed with focussed multi-staged diamond drilling into a number of target shears and structural domains. These domains could potentially have an impact on the ultimate dimension of the gold system and mineral resources. There is a significant potential of discovering more gold mineralization in addition to our existing multi-million ounces in mineral resource estimates. Aurvista will now begin testing the Adam Creek Gold Deposit with a major 30,000 meter drill campaign.”

Looking north along Highway 109 with entrance to Aurvista’s Douay Gold Project in Québec

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n November 2016, Aurvista closed a $6 million CAD financing at $0.15 CAD with clients from Primary Capital

Inc. and PowerOne Capital Markets Ltd., which marked “a major milestone” in the company’s history as Aurvista’s President and CEO, Jean Lafleur, stated. Company insiders participated with $407,500 CAD.

Today’s announced 30,000 m drill program is summarized in the table. The objective is to develop higher grade gold zones within the Adam Creek Gold Deposit and identify additional gold and/or base metal zones outside of the known mineralized centers.

Previous Coverage

Report #1: An Intact Jewel Box forGold‘s New Bull Market: The Tide has Turned for One of Québec‘s Largest Undeveloped Gold Deposits (May 18, 2016)

Report #2: The Last Elephant-Sized Gold Deposit in Quebec? (July 13, 2016)

IReport #3 | Aurvista Gold Corp.

3 Report #3 | Aurvista Gold Corp.

On December 19, 2016, Aurvista announced the start of a ground UTEM-5 geophysical survey, which was said to be completed “over the next month” on the most significant bedrock conductors at Douay (Anomalies E, F and G), with results expected by mid-Q1-2017.

As previously reported by Aurvista in August, the company had completed a 1,421 line-km airborne helicopter magnetic, time-domain electromagnetic (“TDEM”) and radiometric survey. The TDEM survey outlined 7 strong near surface conductive bedrock anomalies (“A” to “G”), all associated to the strongest EM-INPUT™ anomalies, 4 in proximity to the Casa Berardi Deformation Zone (“A” to “D”), northwest of the Adam Creek Gold Deposit (the “Deposit”), and 3 in proximity to, and surrounding the ‘South Porphyry” (“E” to “G”), south of the Deposit. Characteristics of Anomalies “E”, “F” and “G” are summarized in the table.

Anomaly “E” is the most significant since it is located in proximity to the gold bearing “Main Porphyry”, the “South Porphyry” and the “Adam-Porphyry”. There are chlorite-sulphide bearing “feeder pipes” nearby as observed in drill

holes DO-92-24 and DO-11-34, typically found in association with massive sulphide mineralization, yet to be found at Douay. The historical drill holes DY-99-04, 05 and 06, 46878-0, 46899-9 and 0, 64487-0, 468880-0 and D-92-32 skimmed the anomaly by drilling above or holes were too short, but explained the conductive source as graphite. There is no graphite in the re-logged drill core.

Anomalies “F” and “G” are larger in size but are believed, based on nearby re-logged drill core from the phase-1 program, to be related to sulphide mineralization. However, laminar graphite was observed in centimeter-wide shear zones in core from the Anomaly “F” area.

4 Report #3 | Aurvista Gold Corp.

Mt g/t Moz Mt g/t Moz

TMAC Resources Inc. (TMR) 83 1344 Hope Bay (Nunavut)

15.2 9.2 4.5 6 7.4 1.4 228

Pretium Resources Inc. (PVG) 180 2315 Valley of the Kings (BC)

5 16.4 17.2 9.1 4.6 21 3.1 190

Integra Gold Corp. (ICG) 478 330 Lamaque (Québec)

3 5.3 6.8 1.1 4.5 7 1 157

Eastmain Resources Inc. (ER) 175 97 Eau Claire (Québec)

2-2.5 7.2 4.1 1 5.1 3.9 0.6 61

Gowest Gold Ltd. (GWA) 297 52 Bradshaw (Ontario)

3 2.1 6.2 0.4 3.6 6.5 0.8 43

Atlantic Gold Corp. (AGB) 168 154 MRC (Nova Scotia)

23.9 1.5 1.5 20.7 1.6 2.2 42

Sabina Gold & Silver Corp. (SBB) 220 225 Back River (Nunavut)

28.8 5.87 5.3 7.7 7.43 1.8 32

Newcastle Gold Ltd. (NCA) 184 136 Castle Mountain (CA)

219.9 0.59 4.1 40.8 0.58 0.7 28

Midas Gold Corp. (MAX) 180 165 Stibnite (Idaho)

104.5 1.63 5.4 25.1 1.32 1 26

In Pit: 0.37 30 1 0.9 71.6 0.9 2

Out of Pit: 2 1.1 3.3 0.1 11.7 3.3 1.2

Chesapeake Gold Corp. (CKG) 45 195 Metates (Mexico)

1130 0.52 18.8 51.5 0.39 0.6 10

AurvistaGold Corp. (AVA) 131 29 Douay (Québec)

0.3 2.7 2.8 0.2 114.7 0.8 2.8 9.7

Source: Aurvista's corporate presentation (09/26/2016) and public data; market capitalizations in CAD as of January 9, 2017

Company Comparables

Company (Stock Symbol)

Moneta Porcupine Mines Inc. (ME) 239 61Golden

Highway (Ontario)

15

$/OzMeasured+Indicated InferredCut-Off Grade

(g/t)Project (Area)

MarketCap ($M)

Shares (M)

2017 Plans

Aurvista plans to file an updated NI43-101-compliant resource estimate to include 120,000 m of drill core re-logging, 15,000 core re-assays, mineralized zone re-interpretation, updated geological model, and >30,000 m of core drilling in 2016/2017.

An updated PEA (“Preliminary Economic Assessment”) is planned to commence upon completion of drilling. The goal of the drill program is to identify additional gold and VMS targets, potentially increasing the current NI43-101-compliant resource estimate (3 million oz gold in measured+indicated+inferred resources) well above 5 million oz of gold.

With its current resources of 3 million oz of gold, Aurvista is the least expensive company in terms of $-valuation/oz when compared with selected peers (see above table). In the gold space, recent M&A transactions with no PEAs displayed valuations averaging $49/oz (Aurvista is currently valued at $9.7/oz).

While it would only take 2-3 years to get the Douay West Zone into production, the upcoming drill program may delineate a total of >5 million oz in the currently known target areas. Why?

(1) Just like Dome, Malartic and the Abitibi generally: If you drill more, you get more; (2) Nugget effect of high-grade veins, pods and lenses in a porphyry deposit like Douay; (3) Current resource still mostly based at 200 m drill spacing and large spacing could add oz significantly; (4) Minimal drilling to date in some of the high potential zones like NW, Main and Adams.

Douay West and Adams are available to go into production already now as having resources for >10 years at 35,000 oz/year (PEA stated 45,000 oz/year). The December 2014 PEA has focussed on underground mining showing total CAPEX of $57 million.

Recent M&AFeasibility Studies $/Oz Sold Average

Kaminak 261Goldrock 76St. Andrews Goldfields 61Lake Shore Gold 364Probe Mining (no feasibility study) 263

Current Valuations of Prefeas/Feas $/Oz AverageVictoria Gold 158Atacama Pacific Gold 63Orezone 90Sandspring 21

No PEA $/Oz AverageMarathon Gold 76Tanaka Gold 22

205

83

49

Source: Aurvista's corporate presentation (09/26/2016)

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Disclaimer and Information on Forward Looking StatementsAll statements in this report, other than state-ments of historical fact should be considered forward-looking statements. Much of this re-port is comprised of statements of projection. Statements in this report that are forward looking include that Aurvista Gold Corp. or any other company or market will perform as expected; that Aurvista Gold Corp. will com-plete the recently announced financing; that Aurvista Gold Corp. or its partner(s) can and will start exploring, developping or produ-cing any kinds of products; that the company can raise sufficient funds for a transaction, exploration and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those antici-pated in these forward-looking statements. Risks and uncertainties respecting lithium and resource companies are generally dis-closed in the annual financial or other filing documents of Aurvista Gold Corp. and similar companies as filed with the relevant secur-ities commissions, and should be reviewed by any reader of this report. In addition, with respect to Aurvista Gold Corp., a number of risks relate to any statement of projection or forward statements, including among other risks: the receipt of all necessary approv-als and permits; the ability to conclude a transaction to start or continue exploration; uncertainty of future market regulations, capital expenditures and other costs; finan-cings and additional capital requirements for exploration, development, construction, and operating of a facility; the receipt in a timely fashion of further permitting for its legislative, political, social or economic developments in the jurisdictions in which Aurvista Gold Corp. carries on business; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations financed. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Rockstone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment. So while the author of this report is not paid directly by Aurvista Gold Corp., the author’s employer Zimtu will benefit from appreciation of Aurvista Gold Corp.’s stock price. The author also owns shares of Aurvista Gold Corp. and Zimtu Capital Corp., and thus would also benefit from volume and price appreciation of its stocks. Hence, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but as advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Aurvista Gold Corp.has not reviewed the content of this report prior to publication and as such may, or may not, agree with any of the herein made statements by Rockstone Research. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Analyst Profile and Contact

Stephan Bogner (Dipl. Kfm. FH)Mining Analyst Rockstone Research 8050 Zurich, Switzerland+41-44-5862323sb@rockstone-research.com

Stephan Bogner studied at the Inter-national School of Management (Dort-mund, Germany), the European Business School (London) and the University

of Queensland (Brisbane, Australia). Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diplo-ma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits. Through the publication of general geological basic knowledge, the individual research reports receive a background in order for the reader to be inspired to conduct further due diligence. All research from our house is being made accessible to private and institutional investors free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

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Report #3 | Aurvista Gold Corp.