FRANKFURT EXCHANGE: 7RH1-F NR-26-02 Providence Gold Mines Inc. Closes Financing
TSX-V: PHD
OTC-PINKS: PRRVF
FRANKFURT EXCHANGE: 7RH1-F
NR-26-02
Providence Gold Mines Inc.
Closes Financing
VANCOUVER – January 22, 2026, Providence Gold Mines Inc. (“Providence” or the
“Company”) announces that further to the news release of January 16, 2026, the Company
has received final approval to close the non-brokered private placement dated for reference
September 11, 2025, for a total of 1,604,800 units at a price of $0.05 per unit for gross
proceeds of $80,240. The approval was subject to the final approval of the reviewable
transaction announced on January 16, 2026.
Each unit consists of one common share and one full non-transferable warrant exercisable at
$0.05 per warrant for a period of two years from the date of issue.
The proceeds from the private placement will be used for administration and sampling of the
underground workings to evaluate 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 Property:
The La Dama de Oro gold property is a historical high grade gold producer and has
permits for Water, Road, Environmental, Plan of Operations, Mill Site, and is approved for
a bulk sampl e The Property has had no drilling or any modern-day scientific exploration and
consequently has no developed or identified NI 43 101 compliant resources.
The La Dama de Oro Property is located in the Silver Mountain Mining District, within the
structurally complex Eastern California Shear Zone and the intersection with the San Andreas
Fault Zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic
Sidewinder Volcanics. The structural geology of the region implies a sequence of compressional
and extensional events that reactivated favorably oriented zones of weakness for the circulation
of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro Fault,
a shallow northeast-dipping oblique-slip fault.
The mineralization at the property 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 not just within the La Dama de Oro vein and other
known veins but as well for additional discovery of other parallel veins.
The scientific and technical information contained in this news release has been reviewed and
approved by Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101. Mr. Black
is a consultant and is independent of Providence Gold Mines Inc.
For more information, please contact Ronald Coombes, President, and CEO of the Company.
Ronald A. Coombes, President & CEO
Phone: 604 724 2369
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither the OTCQB and or 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.
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 statement