Mr. Rauno Perttu reports

PROVENANCE DISCOVERS NEW MINERALIZED ZONE AT HERMAN ASSAYING 5.94 G/T GOLD OVER 19.81M WITHIN 1.56 G/T GOLD OVER 254.51M FROM SURFACE: EXTENDING MINERALIZATION TO THE SOUTH

Provenance Gold Corp. has released assay results from the third hole of the company's first stepout drilling in the Herman area at its Eldorado gold project in eastern Oregon.

Highlights

ED29:

• 1.56 grams per tonne gold over 254.51 metres from surface and ending in mineralization, including 2.84 g/t Au over 42.67 m, including 9.8 g/t Au over 6.10 m;
• New mineralized zone: 5.94 g/t Au over 19.81 m, including 20.33 g/t Au over 4.57 m.

Hole ED29 was drilled southwestward from the Herman area into a previously undrilled region, approximately 50 m to the south of ED27 (see press release dated Oct. 8, 2025). ED29, hosted in both diorite and mixed metasediments, exhibited strong gold mineralization throughout its entire length and ended in strong mineralization at a depth of 254.51 m (Table 1). ED29 continues to expand a new feeder zone found 800 metres to the south of Zone 1, additionally discovering a new high-grade zone at its southernmost extent, which is believed to be part of a new feeder system.

Current exploration

Drilling is continuing with assays from seven RC (reverse circulation) holes pending from zones 3 to 4 in the Tyee area and the Herman area. At Herman, the drilling tests the newly discovered mineralized contact zone between the diorite intrusive complex and the host metasedimentary rocks. In addition, three diamond core holes are pending in the Herman Area with a focus on extending mineralization towards the south and southwest. These core holes will provide key information about the geological controls and structural details of the mineralization. All mineralized zones at Eldorado West remain open in all directions.

Provenance chairman Rauno Perttu stated: "Hole ED29 is a pivotal hole in this stepout program. We've already demonstrated that gold is prolific at Eldorado West over a large area. We are confident much more mineralization exists within both the previously explored area and within this large new unexplored region. I'm excited because I think the gold system appears to be strengthening into this broad, unexplored area with no outcrops or prior exploration. Historic gold mining of locally derived placer gold along its borders to the south and west and our geophysics and geochemistry support our belief that the gold system continues and potentially strengthens into this unexplored area. We have just scratched the surface of this amazing property, and we haven't even begun tackling Eldorado East yet."

Continuing exploration

The current geological model suggests that mineralization extends much farther to the south and southwest of the Herman area, which was overlooked in historical exploration due to the minimal surface bedrock exposures and historic lack of understanding of the overall project geology. Drilling with both the RC and diamond core rigs continues to test these areas and aims to expand and infill the known footprint of the gold system at Eldorado West. In addition, permitting is continuing for new drill sites at both the Eldorado West and Eldorado East to allow for much further expanded drilling of the system in 2026.

Sampling, laboratory and quality assurance/quality control

The company has implemented a 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-metre intervals on site. A rotation of certified standards, blanks and field duplicates were inserted into the sample stream approximately every 30 metres. The company's QA/QC procedures 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, an arm's-length laboratory located in Reno, Nev. (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 on site and shipped to Paragon in Reno. Samples submitted to Paragon beginning in June and July, 2025, were processed, whereby the entire sample was coarsely crushed to approximately 70 per cent passing two-millimetre mesh and subsequently riffle split, leaving an approximately 500-gram charge. The large assay charge of approximately 500 grams is introduced to the instrument, improving representativeness of the sample, particularly for those samples that may exhibit coarse gold.

Qualified person

The technical content disclosed in this press release was independently reviewed and approved by Jo Price, PGeo, MSc, a technical adviser to the company and a qualified person as defined under NI 43-101.

About Provenance Gold Corp.

Provenance Gold is a precious metals exploration company with a focus on gold exploration within North America. The company currently holds interests in Nevada and eastern Oregon, United States.

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