Vancouver, British Columbia – July 6, 2026 - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce assay results from the final three diamond drill holes (EC-07, EC-08, and EC-09) of the 2025 core drilling program at its Eldorado West Project in Eastern Oregon (the "Project"). These results represent the conclusion of the assays for the 2025 core drilling campaign, which totaled 2,023.4 metres.

Drilling Highlights

EC-09

• 1.82 grams per tonne ("g/t") Au over 116.74m, including 2.14 g/t Au over 14.78m and 4.70 g/t Au over 25.60m including 8.31 g/t Au over 12.34m.
• The main zone is flanked by additional modest grade intervals assaying 0.32 g/t Au over 3.35m and 0.32 g/t Au over 19.66m, suggesting that multiple mineralized zones exist in parallel. Mineralization persisting beyond the main interval suggests vertical continuity and the system remains open at depth (Figure 1).

EC-08

• 0.46 g/t Au over 38.86m hosted in altered and brecciated diorite.
• Targeted a previously undrilled area south of Zone 2, identifying a new zone of mineralization.

Rob Clark, Provenance's CEO and President stated: "The 2025 drill campaign highlighted predominantly shallow, high-grade gold mineralization and demonstrates continuity of the mineralized system. In addition to high-grade intercepts, this program returned broad mineralization over long intervals, suggesting that the overall footprint of the mineralized target zone could be much larger.

The core holes have been particularly informative and valuable. Hole EC-07 was drilled to test an area east of the previous exploration extent and well south of the Herman Area. Hole EC-08 tested an area not drilled historically and uncovered significant intervals of gold mineralization which may expand the system much further south of the Tyee Area. Hole EC-09 was important in terms of increasing our understanding of continuity in the Herman Area and delivered another very strong drill hole, with mineralization persisting beyond the main interval suggesting vertical continuity.

Results to date give us increasing confidence that we are just beginning to define the size and scale of this mineralized system. With our fully funded 2026 core drilling campaign set to commence shortly, we are excited to continue advancing the project while further unlocking its potential".

Figure 1. Schematic Long Section across the Herman and Tyee Areas highlighting the known mineralized areas to date.

Both the Herman and Tyee Areas continue to exhibit robust mineralization, remaining open in multiple directions.

Tyee Area:

Hole EC-08 was drilled northeastward, south of Zone 3, to evaluate the southern extension potential below Zones 2 and 3, in an area previously untested by historical or modern drilling (Figure 2; Tables 1-2). The mineralization intersected is hosted in altered and brecciated diorite, representing the discovery of a potential new mineralized zone.

Herman Area:

EC-09 intersected 1.82 g/t Au over 116.74m, including 2.14 g/t Au over 14.78m and 4.70 g/t Au over 25.60m including 8.31 g/t Au over 12.34m from 191m and is hosted in altered and brecciated diorite and metasediments (Figure 3, Tables 1-2).

EC-09 was positioned to confirm the horizontal and vertical continuity of the high-grade zone at Herman, with holes EC-04, EC-05, EC-06 and EC-09 helping to expand the mineralized footprint at Herman significantly. The Herman Area remains open in multiple directions.

EC-07, drilled to the east, tested an area south of any known mineralization at Herman. The hole stopped short of the targeted mineralized contact zone of the diorite, and consequently mineralization was concentrated in thin stringers within highly altered metamorphic host rock.

Figure 2. Plan Map of the Drillhole Locations and Assays.

Figure 3. Cross Section Showing Herman Drill Hole Locations and Gold Assays.

Table 1. 2025 Diamond 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. There were no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data.

Table 2 – Drill Hole Locations

Collar coordinates are provided in UTM WGS 84 Zn:11. Elevations are reported as meters above sea level (mASL).

2026 Exploration Plans

The Company plans to commence a fully funded and permitted core drilling program at the Project later this month. The program will be carried out by Titan Drilling Ltd., whose strong performance during the Company's 2025 drilling campaign demonstrated its capability and reliability. In addition to the planned drilling, several prospective targets across the northern portion of the Project, which include the Herman and Tyee Areas, remain untested and represent opportunities for future exploration. Further details regarding the upcoming drill program will be provided within the next couple of weeks.

Raptor and Sage Grouse Surveys

The Company has recently completed targeted eagle and raptor nest surveys, followed by greater sage-grouse lek surveys, at the request of the U.S. Fish and Wildlife Service (USFWS), Oregon Department of Fish and Wildlife (ODFW), and the Oregon Department of Geology and Mineral Industries (DOGAMI). Conducted by helicopter, the surveys covered a two-mile "Area of Analysis" surrounding the Company's Eldorado East and Eldorado West projects. With these environmental studies now complete and approved, the Company has gained significantly greater operational flexibility to carry out drilling activities throughout the full exploration season. This is expected to help reduce potential seasonal restrictions while ensuring continued compliance with all applicable environmental permitting requirements.

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. 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.

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

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.

On behalf of the Board, Provenance Gold Corp.

Rob Clark, CEO

1-236-201-4653

Safe Harbor Statement

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

This news release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the interpretation of drill results and mineralized zones; the size, continuity, extent and potential expansion of mineralized zones at the Project; the commencement, timing and completion of the Company's planned 2026 exploration and drilling program; the Company's ability to advance the Project; the significance of recently completed environmental surveys and the resulting operational flexibility; reducing seasonal restrictions for conducting future exploration; the identification and testing of additional exploration targets; and the Company's future plans, objectives and expectations. When used in this news release, words such as "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "potential", "should", "target", "will", and similar expressions are intended to identify forward-looking statements.

Forward-looking statements are based on a number of assumptions believed by management to be reasonable at the time such statements are made, including assumptions regarding the continuity of mineralization, the accuracy of geological interpretations, the availability of financing, equipment and personnel, the receipt and maintenance of required permits and approvals, and general business and economic conditions. However, forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, risks related to exploration and drilling results, geological interpretations, mineralization continuity, the ability to complete planned exploration programs, permitting and regulatory approvals, environmental and weather conditions, contractor availability, commodity price fluctuations, financing risks, and general economic, market and business conditions.

Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.