Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce that a multi-phase metallurgical testing program has been initiated for its Eldorado Gold project in eastern Oregon (the "Project"), which will include both bottle roll and column tests.

The objective of the first phase of the program is to evaluate the Project's amenability to heap leach extraction, including potential metal recoveries, leach kinetics, and reagent consumption across the property. The second phase of testwork will focus on assessing conventional extraction methods, including carbon-in-leach (CIL) and gravity-flotation processes.

Phase 1 Metallurgical Testwork

• 5 column tests covering composite, representative samples from the Tyee and the Herman Areas including the newly discovered mineralization between zones 1 to 4 in the Tyee Area as well as the mineralization extension in the Herman Area.
• 20 simple bottle roll tests on the composites assembled from RC drilling to determine cyanide solubility of gold mineralization from a variety of geologic domains throughout the Project area.

This metallurgical testwork will be used to verify results from historical bottle roll tests and Provenance's previous 2024 gravity and flotation tests completed by Dawson Metallurgical Testing Laboratories (see press release dated 7 February 2024). Previous results returned an overall average of 88.1% (77.9-97.1%) gold recovery of unoxidized sulfide samples, recovered by gravity concentration followed by bulk sulfide flotation of the gravity tailings, indicating that a high proportion of gold is liberated using standard methods.

Kappes, Cassiday & Associates (KCA) out of Reno, Nevada will be performing the 2026 testwork. KCA specializes in all aspects of heap leaching, cyanide processing, laboratory testing, project feasibility studies, engineering design, construction, and operations management. Results from the initial bottle roll tests are expected by May 2026. KCA is independent of the Company.

Leadership Transition

As part of the Company's leadership succession planning, Rauno Perttu is retiring from his role as Chief Executive Officer of the Company. Rob Clark will assume the role as Chief Executive Officer and President, while Mr. Perttu will remain as Chairman of the Board. Mr. Perttu will remain active in assisting the Company moving forward.

The Company also welcomes Etienne Gouin-Proulx as Director of the Company effective immediately. Mr. Gouin-Proulx is a Chartered Financial Analyst (CFA) and a Professional Engineer (P.Eng.) with experience in project evaluation, mergers and acquisitions, and public markets. Mr. Gouin-Proulx holds a Bachelor of Engineering from McGill University, specializing in Mining and Mineral Engineering.

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

Provenance Gold Corp. is a precious metals exploration company focused on its flagship Eldorado Gold Project in eastern Oregon. The Company is actively advancing the Project through systematic drilling, geological modeling, and expansion of its mineralized zones. Provenance's portfolio also includes additional exploration-stage assets in Nevada, USA. For further information, please visit the Company's website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.

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, including statements regarding advancing the discovery at the Project; timing and results of future testwork; the exploration program planned for 2026; the release of the results from the core drilling program; and the Company's future plans and intentions. 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. Such factors include, among other things: risks related to uncertainties inherent in drill results; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this news release and 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285421

Source: Provenance Gold Corp.