Highlights

• The three completed holes exhibit broad, shallow-dipping, stacked, mineralized sheets over the 150 vertical meters tested, punctuated by high-grade gold intercepts within structures that are likely to serve as feeder zones. The mineralization remains open in all directions.
• ED-22: 160.60 g/t Au over 1.52m; intercepted high-grade mineralization within a newly identified structure in Zone 3, expanding the high-grade potential of the Tyee area by another 200m to the west and opening potential to the north.
• ED-23: 1.08 g/t Au over 28.96m including 2.46 g/t Au over 7.62m.
• ED-25: 0.82 g/t Au over 24.38m including 1.37 g/t Au over 12.19m.
• Drilling continues within the newly permitted drill sites which include the Herman area and Zone 4 of the Tyee area.

Vancouver, British Columbia--(Newsfile Corp. - September 9, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce the results of an additional four reverse circulation drill holes totaling 647m of its ongoing 2025 RC drilling program at the Eldorado West Gold Property in Eastern Oregon. Assay results are currently pending for a further 3 holes totaling 640m.

This drilling was designed to confirm the extent of gold mineralization within Zones 1 through 4 of the Tyee area and continue to demonstrate connectivity between these zones, and test for mineralized feeder structures within the gold system (Figure 1). The latest results confirm multiple shallow-dipping mineralized sheets that connect historic mineralized areas into a single, cohesive system.

Provenance's Chairman Rauno Perttu stated, "The exciting part of this program is that we believe it covers only a small portion of the gold system hosted on our property. I am also very excited about our newly permitted current drilling of the Herman area followed by Zone 4 which we believe could unlock more feeder structures hundreds of meters in several directions from last year's drilling."

Figure 1. Plan Map of the Tyee Area Drill Interception Locations 

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Drill Assays

ED-22: Drilled to a depth of 129.54m, intersected two strongly mineralized zones between prior holes ED-18 and ED-19 and another high-grade gold-bearing structure previously undiscovered in Zone 3. Numerous visible gold grains were identified across several feet in the structure and demonstrate that the mineralized corridors between feeder structures can also contain areas of high-grade gold mineralization (Figure 1 and 2).

ED-23: Drilled to a depth of 204.22m, confirmed the model of broad, layered, and moderately dipping gold zones, connected to mineralization intersected in previous holes ED-04, EC-02, and EC-03 and confirmed the northward expansion potential of the Tyee area (Figure 1 and 3).

ED-24: Hole ED-24 was lost at 50m due to adverse ground conditions, resulting in no significant intervals.

ED-25: An offset to ED-24 was angled south from Zone 2 into the untested area between the discovery feeder zone and the Herman area. Drilled to a depth of 263.65m, ED-25 returned multiple broad mineralized intervals confirming the presence of widespread, broad mineralization south of Zone 2 and towards Zone 3 (Figure 1).

Figure 2. Cross-section A to A', 50m +/- section on ED-22 looking northeast

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Figure 3. Cross-section B to B', 100m +/- section on ED-23 looking northeast

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Table 1 — Assay Results for RC Drill Holes

*All reported intervals in this news release are downhole core lengths. True widths of mineralized intervals are not known at this time. Geological modelling is ongoing, and additional drilling will be required to establish the geometry and orientation of the mineralized zones in order to determine true thicknesses.

Drilling Program Overview

Provenance's drilling program is now entering the newly permitted areas which include:

• Significant step-outs into the Herman area 650 meters to the south of Zone 1.
• Extensions of Zone 4 further west into previously untested areas.
• Selected targets for upcoming core drilling.

The objective of this planned drilling is to expand the broad, pervasively mineralized gold system and locate additional high-grade feeder zones or structures (Figure 4).

Figure 4. Drilling Overview

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Sampling, Laboratory, and QA/QC

The Company has implemented a quality assurance and quality control (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-meter intervals onsite. A rotation of certified standards, blanks, and field duplicates were inserted into the sample stream approximately every 30m. The Company 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.

Provenance submitted samples for gold determination by PhotonAssay™ to fully accredited Paragon Geochemical in Reno, NV (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, environmental testing, or retained for future verification.

RC Samples were split onsite and shipped to Paragon in Reno. Samples submitted to Paragon beginning in June and July 2025 were processed whereby the entire sample is coarsely crushed to approximately 70% passing 2 mm mesh and subsequently riffle split leaving a ~500g charge. The large assay charge of approximately 500g is introduced to the instrument, improving representativeness of the sample, particularly for those samples which may exhibit coarse gold.

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

On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chairman

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. 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. 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.

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