Mr. Rob Clark reports

PROVENANCE GOLD INTERSECTS 1.82 G/T GOLD OVER 116.74M INCLUDING 8.31 G/T GOLD OVER 12.34M AT ELDORADO WEST

Provenance Gold Corp. has released assay results from the final three diamond drill holes (EC-07, EC-08 and EC-09) of the 2025 core drilling program at its Eldorado West project in eastern Oregon. These results represent the conclusion of the assays for the 2025 core drilling campaign, which totalled 2,023.4 metres.

Drilling highlights:

• EC-09:
  • 1.82 grams per tonne gold over 116.74 metres, including 2.14 g/t Au over 14.78 m, and 4.70 g/t Au over 25.60 m, including 8.31 g/t Au over 12.34 m;
  • The main zone is flanked by additional modest-grade intervals assaying 0.32 g/t Au over 3.35 m and 0.32 g/t Au over 19.66 m, suggesting that multiple mineralized zones exist in parallel; mineralization persisting beyond the main interval suggests vertical continuity and the system remains open at depth;
• EC-08:
  • 0.46 g/t Au over 38.86 m hosted in altered and brecciated diorite;
  • Targeted a previously undrilled area south of Zone 2, identifying a new zone of mineralization.

Rob Clark, Provenance's chief executive officer and president, stated: "The 2025 drill campaign highlighted predominantly shallow, high-grade gold mineralization and demonstrates continuity of the mineralized system. In addition to high-grade intercepts, this program returned broad mineralization over long intervals, suggesting that the overall footprint of the mineralized target zone could be much larger.

"The core holes have been particularly informative and valuable. Hole EC-07 was drilled to test an area east of the previous exploration extent and well south of the Herman area. Hole EC-08 tested an area not drilled historically and uncovered significant intervals of gold mineralization, which may expand the system much further south of the Tyee area. Hole EC-09 was important in terms of increasing our understanding of continuity in the Herman area and delivered another very strong drill hole, with mineralization persisting beyond the main interval suggesting vertical continuity.

"Results to date give us increasing confidence that we are just beginning to define the size and scale of this mineralized system. With our fully funded 2026 core drilling campaign set to commence shortly, we are excited to continue advancing the project while further unlocking its potential."

Both the Herman and Tyee areas continue to exhibit robust mineralization, remaining open in multiple directions.

Tyee area

Hole EC-08 was drilled northeastward, south of Zone 3, to evaluate the southern extension potential below zones 2 and 3, in an area previously untested by historical or modern drilling (Table 1). The mineralization intersected is hosted in altered and brecciated diorite, representing the discovery of a potential new mineralized zone.

Herman area

EC-09 intersected 1.82 g/t Au over 116.74 m, including 2.14 g/t Au over 14.78 m, and 4.70 g/t Au over 25.60 m, including 8.31 g/t Au over 12.34 m, from 191 m and is hosted in altered and brecciated diorite and metasediments (Table 1).

EC-09 was positioned to confirm the horizontal and vertical continuity of the high-grade zone at Herman, with holes EC-04, EC-05, EC-06 and EC-09 helping to expand the mineralized footprint at Herman significantly. The Herman area remains open in multiple directions.

EC-07, drilled to the east, tested an area south of any known mineralization at Herman. The hole stopped short of the targeted mineralized contact zone of the diorite, and, consequently, mineralization was concentrated in thin stringers within highly altered metamorphic host rock.

2026 exploration plans

The company plans to commence a fully financed and permitted core drilling program at the project later this month. The program will be carried out by Titan Drilling Ltd., whose strong performance during the company's 2025 drilling campaign demonstrated its capability and reliability. In addition to the planned drilling, several prospective targets across the northern portion of the project, which include the Herman and Tyee areas, remain untested and represent opportunities for future exploration. Further details regarding the coming drill program will be provided within the next couple of weeks.

Raptor and sage-grouse surveys

The company has recently completed targeted eagle and raptor nest surveys, followed by greater sage-grouse lek surveys, at the request of the U.S. Fish and Wildlife Service (USFWS), the Oregon Department of Fish and Wildlife (ODFW), and the Oregon Department of Geology and Mineral Industries (DOGAMI). Conducted by helicopter, the surveys covered a two-mile area of analysis surrounding the company's Eldorado East and Eldorado West projects. With these environmental studies now complete and approved, the company has gained significantly greater operational flexibility to carry out drilling activities throughout the full exploration season. This is expected to help reduce potential seasonal restrictions while ensuring continued compliance with all applicable environmental permitting requirements.

Sampling, laboratory and quality assurance/quality control

On receipt from the drill site, the HQ-sized drill core was systematically logged for geological attributes, photographed and sampled at Provenance's core logging facility. Sample lengths as small as 0.45 m were used to isolate features of interest, otherwise a default 1.52-metre downhole sample length was used. Each sample is identified by a unique sample tag number, which is placed in the bag containing the core to be assayed. Once logged, the core was transported to ALS Global in Reno, Nev., for cutting and assaying. ALS Global is independent of the company.

Once at ALS Global in Reno, the core was cut in half lengthwise along predetermined lines, with one-half (same half, consistently) collected for analysis and one-half stored as a record. ALS Global meets all requirements of international standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25.

Provenance submitted samples for gold determination by PhotonAssay and 34-element ICP. The company has implemented a QA/QC program to ensure sampling and analysis of all exploration work are conducted in accordance with industry best practices. A rotation of certified standards, blanks and field duplicates were inserted into the sample stream approximately every 30 m. The company's QA/QC 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.

Qualified person

The technical content disclosed in this press release was independently reviewed and approved by Jo Price, PGeo, MSc, a technical advisor to the company and a qualified person as defined under National Instrument 43-101. Ms. Price has verified the sampling data and analytical certificates underlying the scientific and technical information disclosed in this document.

About Provenance Gold Corp.

Provenance Gold is a precious metals exploration company focused on its flagship Eldorado gold project in eastern Oregon. The company is actively advancing the project through systematic drilling, geological modelling and expansion of its mineralized zones. Provenance's portfolio also includes additional exploration-stage assets in Nevada, United States.

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