Mr. Rauno Perttu reports

PROVENANCE GOLD TRIPLES LAND POSITION AFTER STRONG 2023 DRILL RESULTS AT ELDORADO

Following the strong results of Provenance Gold Corp.'s recent 11-hole drill program, coupled with continuing positive geological field investigations, Provenance Gold has secured an additional 42 BLM (Bureau of Land Management) claims through staking adjacent to its Eldorado property in Malheur county, United States. As part of Provenance's continuing advancement at Eldorado, the expansion has added 804 acres to the project's original 336 acres for a total new land package of 1,140 acres.

The expanded land area exhibits evidence of historic placer mining and hosts strong soil gold anomalies as well as scattered widely spaced historic drill holes that report strong gold intervals. Provenance's geological modelling suggests mineralized structures extend onto the new claims, thereby adding several promising target areas outside the confirmed gold system.

2024 exploration plans

Provenance plans additional sampling and mapping followed by core and RC (reverse circulation) drilling in 2024 to test the extent of the large gold envelope through infill drilling and more-than-300-metre-vertical-depth drilling and by testing additional high-grade-gold-bearing breccia structures similar to the one intersected in the 2023 drilling. The success of the 2023 drill program would suggest that the mineralized system at Eldorado is large, starts at the surface and extends to depth.

Qualified person

The technical content disclosed in this press release was 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 metal 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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