7RH1 “GR- FRANKFURT” Providence Gold Bulk Sample of Historical Stockpile Update Providence Gold Mines “the Company” is pleased to report that David Turner P.Geo together with Lee Groat Ph.D. P.Geo the Company’s Qualified Person, are reviewing a proposal from a leading US
TSXV: PHD
February 4, 2021 USOTC: PRRVF
7RH1 “GR- FRANKFURT”
Providence Gold Bulk Sample of
Historical
Stockpile Update
Providence Gold Mines “the Company” is pleased to report that David Turner P.Geo together with
Lee Groat Ph.D. P.Geo the Company’s Qualified Person, are reviewing a proposal from a leading US
Metallurgical Laboratory to conduct bulk sample gravity testing of the stockpile material in the form of
an extended gravity recoverable gold (E-GRG) at FLSmidth Minerals Testing and Research Center of
Salt Lake City, UT.
The bulk sample test work is designed to determine the amount of free gold in the material. The
Company has been informed that the lab testing can commence begin March 1st, 2021 and
estimated results within 4 weeks.
The Company recently concluded a percussion drill program to determine the depth profile of the
stockpile assays and to demonstrate the presence of gold and not the true representation of values.
The Company believes the surface trenching program which returned significant gold values
reported in NR of November 5th, 2019 are representative of the stockpile of material.
The bulk sample material has been collected from the stockpile is now on transit to Utah.
The Company has commissioned and is awaiting a 3D model of the stockpile of material.
The Company continues with the opinion that the material represents most of the historically milled
material of the Providence mine production of over 200,000 ounces of gold and that historical
mining recovery methods in 1916 were poor when compared to todays mining practice.
Qualified Person:
Lee Groat Ph.D. P.Geo is the Company’s qualified person (as defined under NI 43-101 and has read
and approved the technical information contained in this news release.
Click HERE To Watch "Drilling at the Providence Gold stockpile” Video
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Office: (604) 688-8200
Email: [email protected]
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All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events
or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including,
without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing
estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization
potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and
economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained
in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines
expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results
and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the
exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop
properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development
programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other
governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements
are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by
applicable securities laws. Investors should not place undue reliance on forward- looking statements.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release