Expansion Of Eldorado Footprint Creating A District Scale Opportunity

VANCOUVER - Provenance Gold Corp. announced significant expansion of the land package at the Eldorado project in eastern Oregon through a combination of staking and an option agreement that increases the size of the package by 4529.25 acres (18.33 km2). The total area of the Eldorado package is now approximately 5670 acres (22.95 km2) and covers a district-scale land position in highly prospective geology.

The Company has been granted an option to acquire 100% of the Sunday Hill Property on the terms outlined below, through an option agreement encompassing 10 mineral claims covering 198.4 acres (0.80 km2). The historical Sunday Hill Mine located within the Sunday Hill Property was drilled and re-evaluated by Capri Resources in the 1980's. Capri reported a near-surface gold-bearing zone averaging 23.15 g/t gold with a historical resource of 231,000 tons. 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. The gold horizon remains open in all directions.