Vancouver, British Columbia--(Newsfile Corp. - February 10, 2026) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce the appointment of Luke Schranz as Vice President of Exploration, effective immediately. 

Mr. Schranz will be responsible for the day-to-day operations, planning and overseeing all aspects of the Company's technical programs with a dedicated focus on elevating and advancing the discovery at Eldorado.

Mr. Schranz has extensive leadership and on-the-ground experience working and managing drilling, geologic mapping, and prospecting programs in the western U.S. and globally. He holds a Bachelor of Science in Geology and Geological Engineering from the University of Wisconsin-Madison and a Master of Science in Geology from the University of Nevada in Reno. Mr. Schranz has worked on several large projects including roles as technical project manager at South32's Roosevelt Project, consultant for Kinross at the Kettle River-Curlew Project, senior geologist and director of technical services at Scout Discoveries Corp, and ore control geologist at Hecla Mining Company's Fire Creek Mine.

Rob Clark, Provenance's President, comments, "We are thrilled to welcome Luke to Provenance. We are confident that Luke's leadership, focus and dedication will propel our exploration plans forward with meticulous thoroughness and maximum efficiency. With an aggressive exploration program planned for 2026, Luke's deep expertise in gold exploration and execution will be instrumental for our Company's advancement."

Paramount Gold Grassy Mountain Gold Project Federal Approval

Provenance would like to congratulate Paramount Gold on the recent signing of a Record of Decision (ROD) on January 29th by the Bureau of Land Management for their Grassy Mountain Project located to the south of Provenance's Eldorado project, both in Malheur County. The ROD for the Grassy Mountain Gold Project is the federal approval that completes the NEPA environmental review and allows the project to advance from permitting into a construction-ready, "shovel-ready" stage on federal lands, and paves the way for additional development of mining projects on federal lands in eastern Oregon.

Core Assays

The Company is awaiting assay results for six diamond core holes recently completed at Eldorado East. Core drilling focused primarily on the new discovery area at Herman (see Press Release dated November 5, 2025) as well as a previously unexplored area between zones 2 and 3 in the Tyee area. As of this date, assays remain pending for this core drilling program and will be released once received and reviewed.

Options

In connection with this appointment, the Company has issued 1,250,000 options exercisable at $0.30 per share that vest 20% every six months and exercisable for four years.

Qualified Person

The technical content disclosed in this press release was independently reviewed and approved by Jo Price, P.Geo., M.Sc., a technical advisor to the Company and a Qualified Person as defined under National Instrument 43-101.

About Provenance Gold

Provenance Gold Corp. 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 modeling, and expansion of its mineralized zones. Provenance's portfolio also includes additional exploration-stage assets in Nevada, USA. For further information, please visit the Company's website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.

Safe Harbor Statement: Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding advancing the discovery at Eldorado; the exploration program planned for 2026; the release of the results from the core drilling program; and the Company's future plans and intentions. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this news release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283391