Vancouver - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the 'Company' or 'Provenance') announces that it has completed drilling of 35 RC holes and has received all assays for its White Rock Gold Project.

The Company is pleased to report that every hole intercepted gold mineralization.

The White Rock gold project consists of 258 lode mining claims (5,160 acres) with gold hosted in silicified limestones and shales over an area 3.2 km in length and 1.3 km wide. The White Rock property was originally optioned from Ely Gold Royalties Inc., which was recently acquired by Gold Royalty Corp., combining to create a leading growth and Americas-focused precious metals royalty company. The project has a total of 101 drill holes completed, of which 67 historic holes were drilled by four previous operators. Data from these older holes has now been verified for use in a future technical report. The Company believes White Rock likely hosts an extensive open-pit grade gold deposit, with grades similar to currently operating Nevada open pit mines.

The assay results received this year confirm similar results achieved by past operators and therefore will be used in a planned NI 43-101 resource report that will be completed in the coming months. This new report, which will report tonnage and grade at different cutoffs, will be the first gold mineral resource ever calculated for the property.

The Company currently has a permit revision being reviewed by the BLM for additional drill sites for a proposed 2022 drilling program. Once bonded, drilling could be initiated as early as next May after the snow has melted.

Steve Craig, project manager, stated: 'Over the decades, I have managed many successful exploration programs in Nevada, and this is exactly what exploration companies in Nevada hope to find. I believe we have found an exceptional one.'

Rauno Perttu, Provenance's CEO states, 'It has been an extremely successful initial drilling program. Our work this season gave us a much clearer picture of the gold mineralization controls. We discovered our first feeder structure and started to outline extensive areas of strong gold mineralization. We also recognize several step-out and infill areas that we will follow up on with new exploration next season. Provenance has a large gold system that we believe will be advanced into a new mine and are looking forward to next year's program.'

Along with the initial gold mineral resource calculation and 43-101 the Company will be further updating investors in the coming weeks with maps and diagrams of the drill program which should help as a visualization to show the size and scope of the mineralized zones.

About Provenance Gold Corp.

Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver resources within North America. The Company currently holds interests in three properties in Nevada, USA.

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.

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