Provenance Gold Continues to Expand Mineralized System with Multiple Broad Gold Intervals at Zone 4 within the Tyee Area

January 7, 2026 – Vancouver, B.C. – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (“Provenance” or the “Company”) is pleased to announce assay results from the final seven reverse circulation (RC) drill holes in the Tyee and Striker areas which form part of Eldorado West Project in Eastern Oregon. The five new holes from the Tyee area continue to define broad, continuous, gold mineralization across multiple structural and geological domains, further strengthening the interpretation that Eldorado West is part of a large-scale, multi-kilometer gold system.

Zone 4: Tyee Area Highlights

ED-30:

·       0.67 g/t Au over 68.58 m, including:

o   1.18 g/t Au over 9.14 m

o   2.08 g/t Au over 7.62 m

ED-31

·       0.59 g/t Au over 117.35 m, including:

o   1.50 g/t Au over 19.81 m

o   1.15 g/t Au over 9.14 m

ED-33

·       0.55 g/t Au over 59.44 m, including:

o   1.03 g/t Au over 6.10 m

o   1.03 g/t Au over 7.62 m

ED-35

·       0.40 g/t Au over 64.01 m, including:

o   0.84 g/t Au over 15.24 m

·       0.52 g/t Au over 32.00 m, including:

o   1.27 g/t Au over 4.57 m

o   0.93 g/t Au over 3.05 m

·       0.25 g/t Au over 50.29 m, including:

o   0.54 g/t Au over 6.10 m

Drill holes ED-30, ED-31, ED-33, ED-34, and ED-35 confirm strong, continuous gold mineralization continues westward in the greater Tyee Area, intersecting broad and pervasive gold mineralization that includes higher-grade zones and is hosted in altered diorite (Figure 1, Table 1).

Provenance Chairman Rauno Perttu stated, “These new holes strongly reinforce the scale and continuity of open-pit grade mineralization in this portion of the Eldorado West mineralized system. The large and consistent mineralized intervals encountered in Zone 4 of the Tyee area show that Eldorado West continues to grow significantly and remains open in all directions. We are still in the early stages of defining what we believe will become a very significant gold district. We are permitting major step-out drill pads at Eldorado West for the 2026 drilling season as well as our maiden drill program at Eldorado East.”

Figure 1.   Plan Map of the Tyee and Striker Area Drill Interception Locations

  

Tyee Area 

ED-31, drilled approximately 500 meters southwest of the Zone 1 discovery area (Figure1), was one of the strongest holes drilled in this part of the system to date, intersecting 0.59 g/t Au over 117.35m, including two separate higher-grade intervals grading 1.5 g/t Au over 19.81m and 1.15 g/t Au over 9.14m. ED-30 intersected broad mineralization over 68.58m and ED-34 and ED-35 returned multiple stacked zones with both moderate and higher-grade intervals (Figure 1, Table 1).  The mineralization occurs in both diorite and metasedimentary rock units and is associated with intersections of steep and shallow-dipping structures that extend across the property. 

The results demonstrate that the northern portion of Eldorado West hosts a large, laterally continuous gold system and confirms a corridor of strong mineralization extending southwest within the Tyee Area. Geological mapping of the Herman area together with preliminary radiometric geophysical survey results, indicate that the mineralized corridor at Herman extends to the south-southwest adding significant exploration targets for drilling in 2026. The system remains open in all directions at the Eldorado West.

Striker Area

Two RC holes totaling 588 meters were completed (Figure 1, Table 1) as a preliminary test of an IP chargeability anomaly from a survey conducted in 2024, located in a previously undrilled area known as Striker. At Striker, drill holes ED-32 and ED-36 intersected gold mineralization along intrusive–metasedimentary contacts similar to the styles observed in the Herman Area. ED-32 returned 0.87 g/t Au over 4.57m and 0.52 g/t Au over 4.57m, and ED-36 returned 1.23 g/t Au over 3.05m and 0.44 g/t Au over 4.57m which suggests a new area of mineralization is present further to the southwest in a previously untested area. More recent mapping around the Striker Area suggests mineralization locally trends northeast–southwest and therefore the strongest part of the mineralized corridor was not fully evaluated from the southernly oriented drilling in ED-32 and 36. Testing the possible northeast-southwest mineralized corridor at Striker remains one of many follow-up targets for 2026. 

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.

Core Drilling at Herman and Ongoing Exploration

The 2025 diamond core drilling program concluded with hole EC-09 on December 22, 2025. Core holes EC-04 to EC-09, totaling 2024 meters, are currently being logged and processed. Core drilling focuses primarily on the new discovery area at Herman (see Press Release dated November 5, 2025) as well as a previously unexplored area connecting zones 2 and 3 in the Tyee area. Results will be announced as and when they become available in the coming weeks.

The Company recently completed airborne radiometric and magnetic geophysical surveys over both Eldorado East and Eldorado West properties to better understand the regional and deposit-scale mineralizing structures. These surveys will aid in delineating exploration targets for testing in 2026. A total of 941-line kilometers were flown at 50-meter line spacing. Full results are still being processed, however preliminary results of this survey support the geological model that the mineral system could extend far beyond any known exploration to date. Results of this survey will be furnished in the coming weeks. 

Additionally, detailed geologic mapping on the Eldorado West project area has been completed as well as reconnaissance geologic mapping at Eldorado East. Surface rock chip sampling with multi element geochemistry has been completed in select locations from both project areas. This mapping and sampling data coupled with the airborne geophysical surveys will be used to assess and further delineate large step-out drill targets for 2026 as well as increase the understanding of the structural and geologic controls of mineralization at both Eldorado West and Eldorado East. Results from this work will be announced as they become available. 

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 were submitted to Paragon for processing, 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.

Marketing Agreement 

The Company is also pleased to announce that it has engaged Emerging Markets Consulting, LLC (“EMC”), for a 12-month marketing and investor awareness campaign, commencing immediately, for an upfront, non-refundable fee of USD $250,000. Pursuant to an agreement dated January 7, 2026, EMC will assist the Company with the design, development, and dissemination of approved corporate information, as well as general investor outreach activities conducted through its internal marketing channels and broker-focused networks. Services under the agreement may include electronic media and webcast support, drafting or assembling approved corporate materials, distribution through EMC’s email databases, and communications with brokers and institutions selected by EMC. EMC is an arm’s length party to the Company and to the Company’s knowledge EMC does not currently own any securities of the Company as of the date hereof. There are no performance factors contained in the agreement between EMC and the Company and EMC nor will any of its affiliates receive any shares or options from the Company as compensation for services under the agreement.

About Emerging Markets Consulting LLC

Based in Orlando, Florida, Emerging Markets Consulting, LLC (EMC) brings multiple decades of combined experience in the investor relations industry. EMC is an international investor relations firm with affiliates around the world. EMC is relationship-driven and results-oriented with the goal of seeking attractive emerging companies and concentrating its resources and efforts to serve a limited number of high-quality clients. EMC is a syndicate of investor relations consultants consisting of stockbrokers, investment bankers, fund managers and institutions that actively seek opportunities in the microcap and small-cap equity markets.  For more information, visit EMC's website at https://emergingmarketsconsulting.com .

EMC can be contacted at:

Emerging Markets Consulting, LLC
390 North Orange Avenue, Suite 2300
Orlando, FL, US, 32801
Phone: 407-340-0226 | Fax: 352-429-0961
Email: jim@emergingmarketsconsulting.com

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. 

On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chairman

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.