Mr. Rauno Perttu reports

PROVENANCE GOLD INTERCEPTS 1.55 G/T GOLD OVER 92.96M IN HOLE ED-26, EXTENDING STRONG, PERVASIVE MINERALIZATION TO THE NORTH

Provenance Gold Corp. has released strong results from its continuing drilling program at the Eldorado gold project in eastern Oregon.

Highlights:

• 1.55 grams per tonne gold over 92.96 metres, including 2.39 g/t Au over 25.91 m, and 0.60 g/t Au over 48.77 m, including 11.61 g/t Au over 1.52 m;
• Extended mineralization northward, opening new growth potential for the high-grade zone;
• Results are pending for holes ED-27 through ED-31.

Drill hole ED-26 intersected wide, high-grade intervals of gold mineralization hosting in diorite, extending the known system northward and further linking mineralization to ED-21. These results reinforce the company's evolving structural model, suggesting shallow-dipping sheets of mineralization, with good continuity between zones (Table 1).

Importantly, the results demonstrate that the high-grade gold mineralization hosted in Zone 1 continues to push northward, opening new growth potential for the high-grade zone. The connection with ED-21 mineralization provides further evidence of a broad, cohesive system with substantial growth potential both to the north and to the east. Pending assays from ED-27 through ED-31 are expected to provide additional context on the geometry and scale of this expanding mineralized corridor.

Provenance's chairman, Rauno Perttu, stated: "ED-26 is a significant hole. It not only delivered broad, consistent high-grade mineralization, but it also confirmed our geological interpretation that the gold system is dipping at a low angle and connecting across zones. The extension of mineralization north and its link with ED-21 underscores the scale and continuity we are uncovering. Each stepout continues to add significant mineralization and expand the footprint of this system, and, with several holes still pending, we believe we are only beginning to reveal the true potential of our Eldorado property."

Sampling, laboratory and quality assurance/quality control

The company has implemented a QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with industry best practices.

The RC drill chips were sampled at 1.5-metre intervals on site. A rotation of certified standards, blanks and field duplicates were inserted into the sample stream approximately every 30 metres. The company's QA/QC procedures as well as the laboratory-inserted standards, blanks and duplicates were monitored closely upon receiving assay certificates from the laboratory. No discrepancies were reported in the reference samples inserted. The company will continue to monitor QA/QC procedures closely.

Provenance submitted samples for gold determination by PhotonAssay to fully accredited Paragon Geochemical in Reno, Nev. (ISO 17025:2017). PhotonAssay is a fast, accurate, non-destructive process to determine gold, silver and copper in geological and process samples. The technique uses gamma-ray activation to induce nuclear transitions in the elements of interest, which leads to photon emissions with highly characteristic energies. After analysis, the entire assay charge is returned intact and can be submitted for subsequent analyses (such as geochemistry, cyanidation, metallurgical testing and environmental testing) or retained for future verification.

RC (reverse circulation) samples were split on site and shipped to Paragon in Reno. Samples submitted to Paragon were processed, whereby the entire sample is coarsely crushed to approximately 70 per cent passing two-millimetre mesh and subsequently riffle split leaving an approximately 500-gram charge. The large assay charge of approximately 500 grams is introduced to the instrument, improving representativeness of the sample, particularly for those samples that may exhibit coarse gold.

Qualified person

The technical content disclosed in this press release was independently reviewed and approved by Jo Price, PGeo, MSc, a qualified person as defined under National Instrument 43-101.

About Provenance Gold Corp.

Provenance Gold is a precious metals exploration company with a focus on gold and silver mineralization within North America. The company currently holds interests in Nevada and eastern Oregon, United States.

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