Closes first tranche of $500,000 Private Placement

Providence Gold Mines Inc.

Closes first tranche of $500,000 Private Placement

May 19, 2020 TSX-V: PHD

OTC: PRRVF

Providence Gold Mines Inc. (the “Company”) is pleased to announce closure of a first tranche in

the amount of $100,000 of its private placement offering announced today to raise up to $500,000

from the sale of 6,250,000 units at $0.08 per unit. Each unit is comprised of one (1) common

shares and one (1) share purchase warrant exercisable for a term of one year to purchase an

additional common share of the Company at the price of $0.15 per common share.

Finder’s fees may be payable to qualified individuals comprised of shares, warrants or cash or any

combination thereof.

The private placement is subject to the approval of the TSX Venture Exchange.

The proposed net proceeds received from the Offering after payment of commissions are intended

to be used by the Company for further evaluation including a depth profile, bulk sampling, and a

report of what the Company believes is the original stockpile from the famous providence high

grade gold mine which reportedly produced in excess of 200,000 ounces up until a dispute and a

subsequent fire in 1916 destroyed everything in its path. The remaining proceeds will be used for

administration and general operating expenses

Qualified Person

Brian Ray M.Sc., P.Geo. Head of Exploration and a qualified person (as defined under

NI 43-101) has read and approved the technical information contained in this news

release.

ON BEHALF OF THE BOARD

"Ronald Coombes"

Ronald Coombes, President & CEO

Mobile 604 724 2369

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the

adequacy or accuracy of this release.