Provenance Gold Mobilizes Second Drill Rig to Its Eldorado Project in Eastern Oregon

Rhea-AI Summary

Provenance Gold Corp (OTCQB:PVGDF) has announced the mobilization of a second drill rig - a diamond core rig - to its Eldorado Project in Eastern Oregon. The company has engaged Titan Drilling LTD to drill a minimum of 1,000 meters in newly permitted areas.

The drilling program will focus on two main areas: the Herman area, located 730 meters south of the Tyee area, and Zone 4, situated 550 meters west of Zone 1 in the Tyee area. The company is currently awaiting results from initial RC drill holes (ED-27, ED-28, and ED-29) in the Herman area.

Additionally, Provenance has engaged AB Holdings, LLC for investor communications services for a one-month term at an upfront fee of $18,000 USD.

Positive

• Expansion of drilling program with addition of second drill rig
• Significant step-out drilling program covering new permitted areas
• Previous metallurgical tests support potential for low-cost open-pit mining

Negative

• Results from recent drill holes (ED-27, ED-28, and ED-29) still pending
• Additional marketing expenses with AB Holdings engagement

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased to announce the mobilization of a diamond core rig to the Eldorado Project in Eastern Oregon. The core from the newly permitted drill sites will provide valuable insights to understand key geological controls of the gold system in these areas. The drilling will be concentrated in the Herman area, 730 meters to the south of the Tyee area and Zone 4, 550 meters to the west of Zone 1 in the Tyee area which has been the focus of most of Provenance's confirmation drilling to date (Figure 1). These areas, although major step-outs, are still within a small portion of the Eldorado West claim package.

The Company has engaged Titan Drilling LTD to drill a minimum of 1000 meters in locations selected within the newly permitted areas of the property. Titan Drilling LTD has an excellent reputation, helping to ensure an efficient and on budget drill program. The RC drilling program will continue simultaneously on the property.

Herman Area Target

The first core hole in this new program is scheduled to test the Herman area following-up on Provenance's initial RC drill holes in this location (ED-27, ED-28, and ED-29; results pending). The data from diamond drilling will provide a much clearer geological understanding of the gold system and of this significant new exploration target that Provenance is currently drilling.

Figure 1. Plan Map of the Herman Target area showing holes ED-27, ED-28 and ED-29 pending assays.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5654/267925_provfig1.jpg

Figure 2. File Photo of the Titan Core Drilling Rig that is being used at the Eldorado Property

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5654/267925_ae9ba5c544c31876_006full.jpg

Upcoming Results

The Company expects to release further results from its ongoing RC drill program imminently. These results will include the first assays from our newly permitted Herman area, a 730-meter step out from our recently announced hole ED-26 (Figure 1). In addition, select bulk samples are currently undergoing gravity and float metallurgical testing and results will be reported when available.

Rauno Perttu, Provenance's CEO stated, "Excellent historical and 2023 Provenance metallurgical tests results (see press release dated February 7, 2024) support Provenance's belief that the deposit is amenable to conventional low-cost open-pit mining techniques. I am excited to continue to open the mineralized footprint up at Eldorado not only within the Tyee area as well as to depth but also through expansive step-outs that we are currently well into drilling. The scope and potential of this project continue to impress."

Marketing Agreement

The Company also announces AB Holdings, LLC ("AB Holdings") has been engaged to provide investor communications and market visibility and outreach services. AB Holdings owns and operates The Vanderbilt Report, an online financial news and information platform with a robust advertising model designed to reach active investors. The Company believes this engagement will support its broader efforts to strengthen communication with existing and potential shareholders.

Under the terms of the agreement, the Company will pay an upfront fee of $18,000 (U.S.) for one month of services that can be extended at any time.

The Company is at arms-length to AB Holdings. The Company confirms that no securities will be issued as part of this engagement and, to its knowledge, AB Holdings does not currently own any equity or convertible instruments of the Company. AB Holdings can be contacted at (media@vanderbiltreport.com) or at 3101 US 421 N, Bristol, Tennessee, 37620.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., 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 and silver mineralization within North America. The Company currently holds interests in Nevada, and eastern Oregon, USA.

Provenance is also active on social media and invites investors to follow us on X to stay up to date with our latest news and developments: https://x.com/ProvenanceGold

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.
Rauno Perttu, CEO
1-541-930-0986

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267925

FAQ

What is the significance of Provenance Gold's second drill rig at the Eldorado Project?

The diamond core rig will provide valuable insights into the geological controls of the gold system in newly permitted areas, particularly in the Herman area and Zone 4, representing significant step-outs from current drilling areas.

How many meters will Titan Drilling LTD drill at PVGDF's Eldorado Project?

Titan Drilling LTD has been contracted to drill a minimum of 1,000 meters in the newly permitted areas of the property.

Where are the new drilling locations at PVGDF's Eldorado Project?

The new drilling locations are in the Herman area (730 meters south of Tyee area) and Zone 4 (550 meters west of Zone 1 in the Tyee area).

How much did Provenance Gold pay AB Holdings for marketing services?

Provenance Gold agreed to pay AB Holdings an upfront fee of $18,000 USD for one month of investor communications services.

What type of mining method is suitable for PVGDF's Eldorado Project?

According to metallurgical test results, the deposit is amenable to conventional low-cost open-pit mining techniques.