Vancouver, British Columbia--(Newsfile Corp. - March 26, 2026) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce assay results from the first two diamond drill holes in the Herman Area which form part of the Eldorado West Project in Eastern Oregon (the "Project"). The two new holes from the Herman Area tested the northern and southern strike extent, and intersected broad, pervasive intervals of strong gold mineralization from surface, expanding the mineralization to the north and south.

Herman Area Highlights

EC-04

• 0.51 g/t over 20.12m and 2.18 g/t Au over 83.82m including 18.19 g/t Au over 1.68m and 39.61 g/t Au over 0.91m and 3.90 g/t Au over 11.13m including 22.62 g/t Au over 1.07m with mineralization hosted in altered and brecciated diorite and metasediments.
• The mineralized zone first identified in ED-27 and ED-28 is also present at lower depths in the hole, assaying 0.32 g/t Au over 9.60m and 0.37 g/t Au over 5.64m. This diorite-metasedimentary contact zone dips steeply to the east.

EC-05

• 0.7 g/t Au over 46.48m including 1.97 g/t Au over 7.7m and 0.36 g/t Au over 46.48m and 1.82 g/t Au over 10.52m including 8.73 g/t Au over 1.52m and 0.4 g/t Au over 43.59m including 1.02 g/t Au over 8.23m hosted in altered and brecciated diorite and metasediments.
• A second mineralized contact zone returned assays of 0.26 g/t Au over 14.54m and 0.36 g/t Au over 14.48m. This diorite-metasedimentary contact zone remains steeply dipping and extends the open-ended mineralization for an additional 50m to the south.
• The drillhole also uncovered two additional mineralized zones assaying 0.48 g/t over 5.18m ending in mineralization with 0.51g/t Au over 4.42m at a depth of 305.87m.

Diamond drill holes EC-04 and EC-05 followed up on drill hole results from ED-27 and ED-28 (see press release dated 8 October, 2025) and confirmed that strong gold mineralization continues to both the north and south in the Herman area, intersecting broad gold mineralization that includes higher-grade zones and is hosted in mineralized contact zones, structures, and breccias between the host sedimentary rocks and the various dioritic intrusions. (Figure 1-2, Table 1).

Provenance CEO and President, Rob Clark, stated, "We continue to define a robust and broad target exhibiting multiple mineralized zones in the Herman Area that remain open in all directions. We are pleased with both the strong pervasive grades punctuated by high grade intervals in hole EC-04 and the wide intervals of strong mineralization in hole EC-05, which have the potential to substantially increase the mineralized footprint of the Eldorado property. We look forward to receiving further assays from the core drilling program, including holes EC-06, EC-07 and EC-09 extending to the southwest in the Herman area, and hole EC-08, drilled in an unexplored region of the Tyee Area. This project continues to deliver in terms of both grade and extent of mineralization, and we believe it is still in the early stages of growth."

Figure 1. Plan Map of the Herman Drill Locations

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Table 1. 2025 Diamond Drill Holes Assay Results

Figure 2. Cross Section Showing Herman Drill Hole Locations and Gold Assays.

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Ongoing Exploration

Core processing is ongoing for holes EC-06, EC-07 and EC-09 located in the Herman Area (Figure 1-2) and EC-08 located in the Tyee Area. Results will be released as they become available. In addition, metallurgical testing is ongoing, and a soil sampling program just commenced at Eldorado West which is due to be completed within two weeks. Further announcements will be made in the near future covering drilling and exploration programs for this year.

Sampling, Laboratory, and QAQC

On receipt from the drill site, the HQ-sized drill core was systematically logged for geological attributes, photographed and sampled at Provenance's core logging facility. Sample lengths as small as 0.45 m were used to isolate features of interest, otherwise a default 1.52 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Once logged, the core was transported to ALS Global in Reno, Nevada, for cutting and assaying. ALS Global is independent of the Company.

Once at ALS Global in Reno, the core was cut in half lengthwise along predetermined lines, with one-half (same half, consistently) collected for analysis and one-half stored as a record. ALS Global meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25.

Provenance submitted samples for gold determination by PhotonAssay™ and 34 element ICP. 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.

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. 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.

Additional Technical Information

All reported intervals in this news release are downhole core lengths. True widths of mineralized intervals are not known at this time. Geological modeling is ongoing, and additional drilling will be required to establish the geometry and orientation of the mineralized zones in order to determine true thicknesses. There were no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data. Coordinates are provided in UTM WGS 84 Zone11.

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. Jo Price has verified the sampling data and analytical certificates underlying the scientific and technical information disclosed in this document.

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; increasing the mineralized footprint of 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.

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Source: Provenance Gold Corp.