Provenance Gold Announces Filing of NI 43-101 Technical Report on Silver Bow Property in Nevada

April 26, 2024 – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the “Company” or “Provenance”) is pleased to announce filing of an independent technical report for its Silver Bow Property (the “Property”) in south central Nevada with an effective date of August 10, 2023. The purpose of this report is to provide an independent evaluation of the exploration potential of the property for further exploration or joint venture opportunities.  For details of the technical report, please refer to the report filed under the Company's profile on SEDAR+ (www.sedarplus.ca), and on the Company’s website (www.provenancegold.com).

Provenance identified robust targets for both high-grade and shallow bulk tonnage gold and silver mineralization at Silver Bow. The Property contains an extensive locally high-grade gold and silver mineralized system that is associated with two apparent calderas that are cut by major east-trending structural zones at least five kilometers in length. The Property contains scattered historic high-grade gold and silver workings and small historic mines.  Numerous surface samples taken by historic exploration companies and by Provenance contain high-grade gold and silver within extensive areas of bleaching, alteration and brecciation.  

While Provenance’s resources are largely dedicated to its more advanced Eldorado and White Rock Projects, it still recognises the excellent exploration potential of Silver Bow.  Provenance is open to joint-venturing the Property to allow its more rapid advancement. 

The Company previously signed a revised amendment to the original lease agreement for the Property to retain the option on the original claims at the Company’s discretion with a $10,000 payment that has been made and along with payment of $70,000 each November 30 for a period of seven years. 

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. 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, Chief Executive Officer

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.