Provenance Gold Intercepts 1.01 g/t Gold Over 108.20m Within 172.21m of 0.82 g/t Gold from Surface, Extending Mineralization 730 Meters South, Identifying A Major New Target at Eldorado West

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce the first step-out drilling results from the Herman Area of its Eldorado gold project in eastern Oregon, significantly expanding the potential scale and scope of gold mineralization at Eldorado West.

Highlights

ED27:

• 1.25 g/t gold over 44.20m, within 179.83m of 0.67 g/t gold including:
  • 1.58 g/t gold over 7.62m
  • 1.63 g/t gold over 24.38m
  • 10.16 g/t gold over 1.52m in a newly defined contact zone at the base of the mineralized upper interval; and
• 1.92 g/t gold over 7.62m within 0.5 g/t gold over 53.34m, hosted in metasedimentary rocks within a new mineralized horizon starting at 211.84m.

ED28:

• 1.01 g/t gold over 108.20 meters within 0.82 g/t gold over 172.21m including
  • 1.75 g/t gold over 15.24m including 3.27 g/t gold over 6.10m and
  • 1.22 g/t gold over 57.91m and
  • 0.86 g/t gold over 13.72m; and
• 0.38 g/t gold over 41.15m including
  • 0.74 g/t gold over 3.05m and
  • 2.01 g/t gold over 3.05m

Drill holes ED27 and ED28, the first holes completed in the newly permitted Herman Area, are located 730 meters south of recently reported hole E26 (Figure 1-2). Both ED27 and ED28 intersected broad, pervasive intervals of strong gold mineralization from surface, and identified a new mineralized contact zone between the host sedimentary rocks and the diorite. The newly recognized diorite-metasedimentary contact zone is shallow-dipping, laterally extensive, and projects south, west, and northwest of ED27 and ED28 (Figure1-2). This geometry creates a new broad exploration target that has the potential to host both bulk-tonnage and high-grade gold mineralization across a large area of the previously unexplored, southern and western portions of the property. In addition, this structural setting has been identified with strong mineralization at the newly acquired Eldorado East project and supports the geological model that the mineralization at Eldorado spans both Eldorado East and West.

Provenance's CEO, Rauno Perttu commented, "We are confirming a broader target in the Herman Area that looks to substantially increase the mineralized footprint of the Eldorado property. The extensive volume of gold mineralization above this contact zone combined with strong grades in the contact zone and within the metasedimentary rocks, points to a much larger mineralized system than previously recognized. We are excited to receive further assays from ongoing drilling, including hole ED29 extending to the southwest in the Herman area that showed strong visual mineralization, supporting our data and our belief that mineralization continues southward and is open in all directions at Eldorado West. I believe we are only exploring a fraction of a very large gold system."

Ongoing Exploration

RC drilling continues and includes ED29 (assays pending), drilled southwestward from ED27. In addition, the core rig has arrived on site and drilling has commenced with EC04 located in the Herman Area (Figure1). Core drill holes will target the expansion of known mineralization and provide critical insights about the structural and geological controls on the system.

Provenance is also conducting detailed geological mapping of the southern part of Eldorado West in preparation for permitting drill pads over a planned 2-3-kilometer major step-out area for next year's drill program.

Figure 1. Plan Map of the Herman Area Drillhole Locations

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Figure 2. Cross-section A to A', 012.5 +/- section on ED27 and ED28 looking south.

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Table 1. 2025 RC Drill Holes Assay Results

*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.

Sampling, Laboratory, and QAQC

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 technical advisor to the Company and a Qualified Person as defined under National Instrument 43-101.

About Provenance Gold Corp.

On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chairman
1-541-930-0986

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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