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

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce assay results from the third hole of the Company's first step-out drilling in the Herman Area at its Eldorado Gold Project in eastern Oregon.

Highlights

ED29:

• 1.56 g/t Au over 254.51 m from surface and ending in mineralization, including 2.84 g/t Au over 42.67m including 9.8 g/t Au over 6.10m
• New Mineralized Zone: 5.94 g/t Au over 19.81m including 20.33 g/t Au over 4.57m

Hole ED29 was drilled southwestward from the Herman area into a previously undrilled region, approximately 50m to the south of ED27 (see press release dated October 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 254.51m (Table 1). ED29 continues to expand a new feeder zone found 800 meters to the south of Zone 1 (Figure 1-2), 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 ongoing with assays from 7 RC holes pending from Zones 3-4 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, 3 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 step-out 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."

Figure 1. Plan Map of the Herman Area Drillhole Location.

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Continuing Exploration

The current geological model suggests that mineralization extends much further 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 ongoing for new drill sites at both the Eldorado West and Eldorado East to allow for much further expanded drilling of the system in 2026.

Figure 2. Plan Map and Cross-section A to A', 012.5 +/- section on ED29 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 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, an arms-length laboratory located 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.

Provenance Gold Corp. 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, USA. For further information, please visit the Company's website at https://provenancegold.com or contact Rob Clark at [email protected].

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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