Provenance Gold Commences Drilling at Its Eldorado West Project

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce that drilling is underway at its Eldorado West Project in Malheur County, Oregon. This core drilling program builds on a successful 2025 RC and core drilling season at the Project.

2026 Drilling Program

The Company's 2026 core drill program is being carried out by Titan Drilling Ltd., whose strong performance during the 2025 drilling campaign demonstrated professionalism, productivity and efficiency. Drilling has started in the Herman Area and is expected to continue on site through the fall, weather permitting.

Additionally, the Company is working with APEX Geoscience Ltd. ("APEX"), an independent geological consulting firm, to review and model all present and historical geological data to identify key drill holes for the 2026 drill program. This phase of drilling will focus on a defined portion of the northern area of Eldorado West, where existing data density will help support the Company's ongoing work toward a maiden mineral resource estimate. In addition, APEX will complete a comprehensive geological assessment of the overall Project, utilizing all geophysical data, multi-element drill hole assays, and geological data, to guide future expansion of the resource base well beyond this initial area.

Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo., an independent qualified person of APEX Geoscience Ltd., recently visited the Project and the core facility in Vale, Oregon, and stated, "The breadth and extent of alteration and gold mineralization based upon the results of all the prior drilling at the Project is impressive and speaks to a large multi-kilometre hydrothermal system - the kind that yields large gold resources that we are now seeing across western Nevada and north into eastern Oregon."

Rob Clark, the Company's President and CEO, states, "In 2025, we drilled over 7500 metres at Eldorado West and found both high-grade gold and new discoveries at Herman as well as at previously undrilled areas south of the Tyee. Eldorado West is shaping up to be exactly the kind of large-scale, multi-kilometre gold system we set out to find. We continue to build the foundation for a maiden resource estimate at Eldorado West. Combined with mineralization that's open in multiple directions, we believe this Project has the size and scope to become a truly significant gold discovery and this season's program is designed to accelerate this."

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