Providence Gold Mines Closes Private Placement

VANCOUVER — January 22, 2026 — Leads & Copy — Providence Gold Mines Inc. (TSXV:PHD) has received final approval to close a non-brokered private placement for gross proceeds of $80,240.

The placement, dated for reference Sept. 11, 2025, involves 1,604,800 units at a price of $0.05 per unit. The approval was contingent on the final approval of the reviewable transaction announced on Jan. 16, 2026.

Each unit comprises one common share and one full non-transferable warrant. The warrants are exercisable at $0.05 per warrant for two years from the issue date.

Providence intends to use the proceeds for administration and sampling of the underground workings. The goal is to evaluate the potential of available mineralization at the La Dama De Oro gold and silver property. Remedial road work on the main access road has been completed during the past several weeks.

The La Dama de Oro property is a historical high-grade gold producer with permits for water, road, environmental matters, a plan of operations, and a mill site. It is also approved for a bulk sample.

The property, located in the Silver Mountain Mining District within the Eastern California Shear Zone, has not undergone drilling or modern-day scientific exploration and has no developed or identified NI 43-101 compliant resources.

The bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The structural geology suggests compressional and extensional events that reactivated zones of weakness for hydrothermal fluid circulation.

The main zone of mineralization is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault. The mineralization is classified as a structurally controlled, low-sulfidation epithermal gold-silver vein system.

Gold and silver mineralization is associated with multi-phase quartz veining, brecciation, and pervasive hydrothermal alteration along the La Dama de Oro Fault. The largest known vein is 4.5 feet at its widest point and remains open to exploration for over 6,000 feet. The gold system has potential within the La Dama de Oro vein and other known veins, as well as for the discovery of additional parallel veins.

Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101, has reviewed and approved the scientific and technical information in the release.

Ronald A. Coombes is the President and CEO of the Company.

Ronald A. Coombes, President & CEO Phone: 604 724 2369 roombes@providencegold.com

Source: Providence Gold Mines Inc.