Provenance Gold Corp. Corporate Presentation

MAJOR GOLD SYSTEM EXPLORING THE NEXT IN EASTERN OREGON

Overview

ELDORADO PROJECT

The Eldorado Project is a district-scale land position totaling 7,915 acres (32.03 km2) located 60 kilometres (38 miles) northwest of Vale in Malheur County, Oregon. The project benefits from excellent nearby infrastructure, road accessibility, local and federal support, as evidenced by the Grassy Mountain project, located just 35 km away, included under the FAST-41 permitting initiative. The project consists of the Eldorado West and Eldorado East properties, both featuring highly prospective geology.

Eldorado East

▪ Historical open-ended resource estimates at Sunday Hill**: 154,000 oz+ at 23.15 g/t gold

50,000 oz+ at 9 g/t gold

▪ Recently acquired 5,867 acres

▪ Ground-work, sampling and drill permitting underway

▪ Expected to be ready to drill by Spring 2026

Eldorado West

▪ Historical resource estimate of 1.98 million oz at 0.75 g/t gold*, with much of the property still unexplored

▪ ~22,000 m historical drilling defining bulk tonnage mineralization to an average drilled depth of 100m

▪ EC-01: 288m @ 2.01 g/t gold from surface including 175m @ 3.07 g/t gold

▪ Discovery of significant high-grade structures within historical pit & extending mineralization to 250m depth

referenced resource estimates for mine sites on the Sunday Hill Property are considered

▪ Strong metallurgical recovery demonstrates the project could be amenable to heap leach extraction and gravity/flotation

▪ 2025 drilling extended gold mineralization to over 800 meters and confirmed broad, coherent zones of mineralization

▪ ED-26: 92.96 m @ 1.55 g/t gold (incl. 25.91 m @ 2.39 g/t gold and 1.52 m @ 11.61 g/t gold), extending mineralization northward

▪ ED-29: 254.51 m @ 1.56 g/t gold (incl. 42.67 m @ 2.84 g/t gold and 4.57 m @ 20.33 g/t gold), expanding a new feeder zone at Herman southward

▪ New Discovery at Striker Area: Initial drilling intersects 4.57 m @ 0.87 g/t Au (ED-32) and 3.05 m @ 1.23 g/t Au (ED-36), confirming a new mineralized corridor southwest of Herman.

in nature, are based on prior data prepared by previous property owner, and do not conform to current CIM categories While the Company considers the estimates to be reliable, qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company not treating the historical estimates as current resource Significant data compilation, re drilling, re sampling and data verification may be required by qualified person before the historical estimates can be classified as current resources There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability The Company not aware of any more recent estimate prepared for the Sunday Hill Property

Proven Metallurgy DE-RISKING THE PATH TO PRODUCTION*

Positive metallurgical testing from both modern and historical work confirms the gold at Eldorado is amenable to simple, lowcost recovery methods a critical factor for future economic success. This significantly reduces the project's technical risk

▪ Excellent Gold Recoveries

Modern testing on unoxidized ore shows high gold recoveries, averaging 88.1% and reaching up to 97.1%. This demonstrates the gold can be efficiently extracted from the host rock.

▪ Amenable to Low-Cost Heap Leaching

Historical test work concluded ore is suitable for a conventional crush and cyanide heap leach operation. Testing has shown excellent leaching recoveries even in unoxidized mineralization.

▪

Simple, Free-Milling Gold

Modern and historical testing confirmed the presence of liberated, "freemilling" gold in all samples tested. This means the gold is not locked in complex sulfide minerals, which simplifies the extraction process and keeps costs down.

*The preliminary metallurgical test results are preliminary and based on limited, non-representative samples from the Eldorado Project These results do not have demonstrated economic viability, and further testing is required Disclosure has not been supported by a technical report prepared by an independent Qualified Person, as required by National Instrument 43-101. Metallurgical recoveries (88.1% average, 97.1% peak) are from laboratory tests only and may not reflect full-scale operations Historical processing evaluations suggest suitability for cyanide heap leach but

Bottle Roll Cyanide Leach Test Results

Eldorado West

ELDORADO PROJECT

Location of 2023 & 2024 Drilling

The 2,048-acre property covers a large diorite intrusion-related gold system. Pervasive gold mineralization occurs within and proximal to diorite intrusions and is localized within and around contacts with the host rock. The strongest mineralization is hosted in fault-related fracture zones which likely created pathways for the gold mineralizing fluids to deposit zones of bulk tonnage, highgrade mineralization. Historic mining activity, historic and recent drilling, strong gold-in-soil anomalies, and geological / geophysical modelling indicate mineralized structures likely extend over the majority of the property, outlining new targets well beyond the currently confirmed system.

2023 RC Drilling Select Highlights

11 HOLES TOTALING 1,446M

▪ ED-03: 140.21 m @ 1.15 g/t gold, incl. 22.86 m @ 3.86 g/t gold

▪ ED-04: 137.16 m @ 1.64 g/t gold, incl. 32.00 m @ 3.982 g/t gold

▪ ED-07: 114.30 m @ 3.09 g/t gold, incl. 33.53 m @ 7.60 g/t gold

▪ ED-11: 118.87 m @ 3.28 g/t gold, incl. 12.19 m @ 18.01 g/t gold

2024 Core Drilling Select Highlights

3 HOLES TOTALING 695M

▪ EC-01: 288.34 m @ 2.01 g/t gold from surface, incl. 175.26 m @ 3.07 g/t gold

▪ EC-02: 156.36 m @ 0.51 g/t gold, incl. 32.00 m @ 0.94 g/t gold

▪ EC-03: 154.23 m @ 0.80 g/t gold, incl. 100.58 m @ 1.08 g/t gold

ELDORADO WEST

Tyee Area, SW – NE Section (Looking NW)

ELDORADO WEST

Zone 4

Zone 3

Zone 2

Zone 1

▪ Potential to infill all zones within the Tyee Area

▪ Significant expansion potential to depth

*Older claim boundary shown

ELDORADO WEST

Tyee Area

2025 RC DRILLING*

Intersected gold mineralization has confirmed broad, coherent, pervasive zones extending the open-ended mineralization from east to west over 800 meters, with new mineralization identified between Zones 2, 3 and 4.

HIGHLIGHT INTERCEPTS

▪

Herman Area

2025 RC DRILLING*

The Herman Area is located approximately 730m south of the Tyee Area. Drill holes ED-27, ED-28 and ED-29 intersected broad gold mineralization from surface and identified a new mineralized contact zone between the diorite intrusive complex and the host metasedimentary rocks.

HIGHLIGHT INTERCEPTS

▪ ED-27: 179.83 m @ 0.67 g/t Au incl. 44.20 m @ 1.25 g/t Au

▪

Striker Area

2025 RC DRILLING*

Drilling tested a 2024 IP chargeability anomaly in this previously undrilled area, successfully identifying gold mineralization along intrusivemetasedimentary contacts. Results suggest a new northeast-southwest trending mineralized corridor exists further to the southwest.

HIGHLIGHT INTERCEPTS

▪ ED-32 (Striker): 4.57 m @ 0.87 g/t Au

▪ ED-36 (Striker): 3.05 m @ 1.23 g/t Au

Geology – 2D Mag

ELDORADO WEST

▪ Best gold grades in Tyee align with outside edges of strongly magnetic zones.

▪ Magnetic zones are separated by structural controls and coincident with some of the best drilling at Tyee.

Eldorado East

ELDORADO PROJECT

The Eldorado East addition increased the size of the land package by approx. 5,867 acres (23.74 km2) through a combination of staking and an option agreement. The property hosts numerous mines and prospects, including two historical open-ended resource estimates*:

Historical Resource Estimate

154,000oz+ @ 23.15 g/t gold*

▪ The zone was reported to be within 10.7 meters of the surface, 7.6 meters thick, widening to 18.3 meters at its deepest underground exposure, 61 meters down dip (Hogg, 1927)

▪ The gold horizon remains open in all directions (Castleon Summary Report., 1993)

▪ In 1926 “a weighted average for 21 samples of 5.75 g/t gold” was sampled across a 1189 by 152-meter area of altered diorite that is located proximal to the two historical resource estimates (PR by Capris Resource Ltd. April 4,1984)

ELDORADO EAST

Historical Resource Estimate

50,000oz+ @ 9 g/t gold*

▪ Located 500 meters south of the other historical resource estimate (Report on the Sunday Hill and Adjacent Mines, Malheur County Oregon, F. Holcapek Professional Engineer, May, 1935).

▪ A historical surface soil map prepared by Capri shows a gold enriched soil zone that connects the historical resource estimates and extends beyond the edge of the soil grid.

Mormon Basin

ELDORADO EAST

▪ The Mormon Basin extends across much of the Eldorado East property

▪ Hosts numerous historic high-grade lode and placer gold mines dating back to the late 1800s and early 1900s

▪ Has seen very little systematic or modern exploration

▪ Provenance believes the near-surface historical gold mineralization in and around the Mormon Basin is part of a potentially large bulk gold system that includes both the original Eldorado and the new Eldorado East expansion

Provenance completed ground truthing and data compilation in 2025 and is planning a maiden drill program for summer 2026.

180,154,770

256,401,727

WARRANT SCHEDULE

Meet The Team

CORPORATE

Management & Directors

Rauno Perttu

CHAIRMAN, CEO & DIRECTOR

Mr. Perttu is a registered professional geologist whose experience spans more than 40 years covering all aspects of mineral development throughout North, Central and South America, and Australia.

Rob Clark

PRESIDENT & DIRECTOR

Mr. Clark is a driven entrepreneur and venture capitalist with over twenty-five years of business experience within both the private equity markets, and domestic and international equity markets.

Thomas Martin

DIRECTOR

Mr. Martin has managed and invested in several successful businesses over the years. Mr. Martin has also utilized his sports and media ties domestically and internationally to raise capital for both private and public corporate entities.

Fiona Fitzmaurice

CFO

Ms. Fitzmaurice is a chartered professional accountant with extensive experience in accounting, financial controls, corporate audits, private placements, and corporate acquisitions.

Advisory Board

Jo Price M.Sc., MBA, P.Geo TECHNICAL ADVISOR

Ms. Price has managed multi-million-dollar exploration programs and has extensive experience in field operations, drill programs, technical database administration, land management, permitting, and community relations in multiple jurisdictions.

Mac Watson

SENIOR EXPLORATION ADVISOR

Mac Watson, a Canadian Mining Hall of Fame inductee, has over 50 years in exploration, mining, and development, and played key roles in discovering multiple mineral deposits, including the Holloway Gold Mine (Ontario) and the Ring of Fire chromite deposits.

Andy Bentz

ADVISOR

Andy is currently Vice-President of the Oregon Mining Association, where he and his associates are working with the local and state government to implement reasonable and sustainable regulations that will support exploration and mining related activities.

Disclaimers

General Disclaimer & Forward-Looking Statements

The information contained herein is provided by Provenance Gold Corp (“PGC” or “Provenance”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of PGC or other financial products The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The views, opinions and advice provided in this presentation concerning events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, PGC’s cash position, market conditions or property conditions. PGC undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law The reader is cautioned not to place undue reliance on forward-looking statements. This presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U S person [as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”) (“U.S. Person”)], or in any other jurisdiction in which such an offer would be illegal. We seek safe harbor This document may not be reproduced, further distributed or published in whole or in part by any other person This document may only be disseminated or transmitted into any jurisdiction in compliance with, and subject to, applicable securities laws Readers are required to ensure their compliance with applicable securities laws

Metallurgy

The preliminary metallurgical test results are preliminary and based on limited, non-representative samples from the Eldorado Project These results do not have demonstrated economic viability, and further testing is required Disclosure has not been supported by a technical report prepared by an independent Qualified Person, as required by National Instrument 43-101 Metallurgical recoveries (88 1% average, 97 1% peak) are from laboratory tests only and may not reflect full-scale operations. Historical processing evaluations suggest suitability for cyanide heap leach but require validation No mineral resources or reserves have been estimated, and economic viability is uncertain

Historical Estimates

All historical resource estimates are based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify historical estimates as current resources in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) categories and the company is not treating the historical estimates as current resources Significant data compilation, redrilling, resampling and data verification are required by a qualified person before historical estimates can be classified as a current resource There can be no assurance that any historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured resource category

Eldorado Historical Estimate

In 1990, the first historical estimate was calculated on what is now the Eldorado Project by Pincock, Alan and Holt (PAH), a reputable engineering firm that was used industry wide for this type of work PAH modeled 158 of the historical drill holes which identified approximately 52,896 000 tons that graded 0.578 g/t gold (0.0169 oz/t gold) at a cut-off grade of 0.274 grams per ton (0.008 oz/t) in the open-ended gold system. A second historical estimate was calculated by ICAN Minerals based on work completed between 1989 and 1997 which identified 1 980 000 ounces of gold grading 0 753 g/t gold (0 022 oz/t gold) within 90 000,000 tonnes The Company is not treating either estimate as current mineral resources and a qualified person has not done sufficient work to classify these estimates as current mineral resources The estimates were prepared prior to the enactment of National Instrument 43-101 and the establishment of current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) classification categories and should not be relied upon for investment decisions The purpose of presenting this information is to show that the Eldorado Project has potential to hold a large mineral inventory The Company plans to update these historical estimates into a current resource model Near term work to accomplish this goal includes confirmation drilling by twinning a number of the historical holes, certifying and comparing assays between the old and new holes, validating all historical holes in the field with a GPS and confirming historical metallurgical test results When the Company is comfortable with these upgrades, then a new stand-alone current resource can be calculated Other than these, the Company is not aware of any more recent estimates prepared for the Eldorado Project, nor is it aware of the existence of any technical reports describing the historical estimates.

Sunday Hill

The referenced resource estimates for mine sites on the Sunday Hill Property are considered historical in nature, are based on prior data prepared by a previous property owner, and do not conform to current CIM categories While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimate prepared for the Sunday Hill Property

Qualified Person

Provenance Gold’s disclosure of a technical or scientific nature herein has been reviewed and approved by Jo Price, P.Geo , M.Sc , and a Qualified Person as defined under National Instrument NI 43-101 (“NI 43-101”).

APPENDIX

Property Acquisition Terms

Provenance holds a binding option to purchase the property from Nevada Select Royalty Inc., an arms-length subsidiary of Gold Royalty Corp. (NYSE : GROY). The total purchase price for the Eldorado West Property is US$2,000,000, with the remaining payable as follows:

Eldorado East

Provenance has been granted an option to acquire the Sunday Hill Project, which Eldorado East encompasses, for total consideration of US$400,000, with the remaining payable as follows:

Upon the exercise of the option agreement, Provenance will grant to Nevada Select a 3% NSR in respect of all products produced from the property.

Upon exercise of the option, the Company will grant to Nevada Select a 3% royalty on net smelter returns from the project. 1% of this royalty can be bought back for US$2,000,000.

2023 Drilling Summary

APPENDIX – ELDORADO WEST

2024 Discoveries

APPENDIX - TYEE AREA, ELDORADO WEST

The 2024 core drilling program was highly successful, intersecting significant gold mineralization from surface, extending known zones, and discovering new, deeper high-grade structures. EC-01 returned the best intercept on the project to date and encountered significant mineralization from surface.

▪ Drilled to a total depth of 338.18m, returning 2.01 g/t gold over 288.34m from surface & incl. 3.07 g/t over 175.26m

▪ Extended mineralization from nearby holes ED-07 and ED-11 and discovered a new, deeper mineralized zone

Grade Distribution East-West Section +/- 200m Looking North

2024 Drilling Summary

APPENDIX – ELDORADO WEST

2025 Drilling Summary* APPENDIX –

ELDORADO WEST

2025 Drilling Summary*

APPENDIX – ELDORADO WEST

Historical Work APPENDIX –

ELDORADO WEST

Historical drilling included 237 reverse circulation holes and six core holes totaling 21,867 meters. The latest historical resource estimate*, conducted by Ican Minerals in 1997 was 1,980,000 oz Au with 90,000,000 contained tons at a grade of 0.753 g/t gold (0.022 oz/t).

Historical drilling also encountered high-grade breccia zones. These breccia areas are associated with northeast and secondary north-trending structures that host high-grade gold within a large lowmedium grade envelope. High-grade zones also occur within unbrecciated highly altered diorite.

1874

Placer gold production started

1984

N. A. Degerstrom Inc. drilled 30 RC holes for 792.5 m

1980

Westley Mines Ltd. drilled 18 RC holes for 903.7 m

1988

Ican Minerals Ltd. drilled 88 RC holes for 6,254 m

1989

Billiton Minerals USA drilled 67 RC holes for 8,842.6 m

1997

North Mining drilled 4 Core holes for 1448.8 m

1991-96

Ican Minerals Ltd. drilled 34 RC holes for 3,660.1 m

2022

Provenance Gold options property

Eldorado Historical Estimate: In 1990, the first historical estimate was calculated on what is now the Eldorado Project by Pincock, Alan and Holt (PAH), a reputable engineering firm that was used industry wide for this type of work. PAH modeled 158 of the historical drill holes which identified approximately 52,896,000 tons that graded 0.578 g/t gold (0.0169 oz/t gold) at a cut-off grade of 0.274 grams per ton (0.008 oz/t) in the open-ended gold system. A second historical estimate was calculated by ICAN Minerals based on work completed between 1989 and 1997, which identified 1,980,000 ounces of gold grading 0.753 g/t gold (0.022 oz/t gold) within 90,000,000 tonnes. The Company is not treating either estimate as current mineral resources and a qualified person has not done sufficient work to classify these estimates as current mineral resources. The estimates were prepared prior to the enactment of National Instrument 43-101, and the establishment of current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) classification categories and should not be relied upon for investment decisions. The purpose of presenting this information is to show that the Eldorado Project has potential to hold a large mineral inventory. The Company plans to update these historical estimates into a current resource model. Near term work to accomplish this goal includes confirmation drilling by twinning a number of the historical holes, certifying and comparing assays between the old and new holes, validating all historical holes in the field with a GPS and confirming historical metallurgical test results. When the Company is comfortable with these upgrades in compliance, then a new stand-alone current resource can be calculated. Other than these, the Company is not aware of any more recent estimates prepared for the Eldorado Project, nor is it aware of the existence of any technical reports describing the historical estimates.