Mr. Rauno Perttu reports

PROVENANCE GOLD COMPLETES DRONE-BASED AIRBORNE MAGNETIC SURVEY AT THE ELDORADO PROJECT

Provenance Gold Corp. has completed a drone-based, airborne, high-resolution, magnetic survey at its Eldorado property in eastern Oregon.

The strong correlation between highly mineralized drill holes and reduced magnetic signatures in the diorite suggests that this high-resolution 3-D magnetic survey will be a valuable tool to assist in accurately defining drill targets together with the induced polarization survey and detailed mapping that were already completed this winter. It is important to note that only a small area of the property has been explored in detail to date, with the company looking to increase the size and scope of the gold mineralization substantially in 2025.

The survey was conducted by Zonge International Inc. and was designed to further refine the understanding of mineralized structures at Eldorado and delineate additional property-wide exploration targets through detailed 3-D modelling of the new magnetic data. Results are expected in the coming weeks and will be released when available.

2025 reverse circulation drill program

The initial 2025 RC drill program will be commencing in the next few weeks now that weather conditions at the site are more favourable. The company is confident that Boart Longyear, as drill contractor, will bring experience and efficiencies to the 2025 program.

This program is a follow-up to the company's 2024 three-hole core drilling program, which included the following results:

• Hole EC-01 returned 2.01 grams per tonne gold over 288.34 metres from surface, including 3.07 g/t Au over 175.26 m (see press release dated Dec. 9, 2024).
• Hole EC-02 intersected 156 metres that assayed 0.501 g/t gold, including 32 metres of 0.94 g/t gold (see press release dated Feb. 28, 2025).
• Hole EC-03 intersected 154 metres of 0.8 g/t gold, including 13.7 metres that assayed 3.02 g/t gold and 12.2 metres containing 2.57 g/t gold (see press release dated Feb. 28, 2025).

The company has also secured Paragon Geochemical to assay the coming drill holes in an effort to streamline the process from the site to the assay laboratory and expedite assay turnaround times, which will help guide its initial drill program.

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 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.

Provenance is also active on social media and invites investors to follow it on X to stay up to date with its latest news and developments.

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