Provenance Gold Corp. Samples up to 74 oz/t Silver and 22 g/t Gold on Newly Acquired Nevada Property

Vancouver, December 20, 2018 - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) ("Provenance", or the "Company") is pleased to announce it initiated a field program in November to better define the mineralization control geology of the Silver Bow silver and gold project near Tonopah, Nevada. In their field work the Company's geologists reviewed new interpretations of the property's geology and conducted limited surface sampling to help narrow the focus of a detailed mapping and sampling program expected to begin in March of 2019. Provenance plans to follow up the program with drilling of the key targets later in the year or in early 2020. The work identified three areas of focus for the follow-up program. The November work confirmed the viability of a previously recognized bulk tonnage target area in the southeastern part of the property. This mostly undrilled target contains few bedrock exposures, but the highly altered, structurally prepared and silicified outcrops surrounding the target zone are pervasively mineralized. Four of the six confirmation samples from the area were strongly mineralized:

Sample   Gold g/t   Gold oz/t   Silver g/t   Silver oz/t
1002      1.02        .033        2310         74.27
1011       .65        .021        1130         36.33
1012       .13        .0042         28           .90
1013       .42        .014         549         17.65

Additionally, limited drilling was historically conducted to the southwest of this target area that intersected zones of up to 120 feet thick of near-surface mineralization containing 0.01 to 0.03 oz/t gold and 1 oz/t silver.

The second area that will be targeted for detailed mapping and sampling is an extensive undrilled zone in the westernmost part of the property. Surface samples from the area historically contained strong gold and silver mineralization. Provenance's geologists interpreted the boundary of a previously unrecognized caldera and confirmed the mineralization. Four of the six samples taken from this area showed strong gold mineralization:

Sample Gold g/t Gold oz/t Silver g/t Silver oz/t

1008 	22.2 	.71 	1545 	49.67
1009 	1.92 	.062 	32 	1.03
1020 	2.45 	.079 	88 	2.83
1021 	1.0 	.032 	38 	1.22

Only one sample was taken from a vein in the third area in the northeastern part of the property. The strength of the vein sample was encouraging enough to add this area to the sampling and mapping next spring. The sample assayed 2.82 g/t (0.091 oz/t) gold and 648 g/t (20.8 oz/t) silver.

Rauno Perttu, Chairman, said, "We are extremely pleased with these results which reinforce our belief in the potential of the property. We will expand on these results in our 2019 exploration plan".

The samples were processed and analyzed at ALS Global, Nevada.

For further information, sponsorship or funding enquiries please visit the Company's website at http://www.provenancegold.com or contact Rob Clark @ rclark@provenancegold.com.

Rauno Perttu, P. Geo., a Qualified Person (as defined by National Instrument 43-101) has reviewed and approved the contents of this News Release.


On behalf of the Board,

Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer



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Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.