FRANKFURT EXCHANGE: 7RH1-F NR-26-07 La Dama de Oro Discovery Vein Assays 7.5 grams over .45 metre
TSX-V:PHD
OTC-PINKS: PRRVF
FRANKFURT EXCHANGE: 7RH1-F
NR-26-07
La Dama de Oro Discovery Vein Assays
7.5 grams over .45 metre
VANCOUVER – July 7, 2026, Providence Gold Mines Inc. (“Providence” or the “Company”)
further to the June 29th, 2026, news release the Company is very pleased to provide gold assays
from the channel sampling of the vein discovery. As reported, the discovery was made by the
Company’s registered California geologist Mark Payne P.Geo. during recent exploration surface
stockpile target sampling at the La Dama de Oro gold and silver property, located near the City of
Victorville, California.
Assay Results from discovery vein at La Dama de Oro:
Preliminary underground sampling in the La Dama De Oro mine workings at the 4180-ft Level
(1274m L) disclosed a vein discovery at the westernmost underground exposure of the historically
productive Mojave Girl Vein structure. A representative chip channel sample was taken across a 1.5
foot (0.45m) true width of vein quartz and delivered to American Assay Labs of Sparks Nevada.
Using a 1000 gram screened metallic fire assay yielded 7.5 g/tonne gold (0.22 oz/ton).
The massive, reddish vein quartz was strained, sugary-granular, strongly fractured, with pervasive
red hematinic staining along fractures. There is minor fracture filling pyrite. The lode structure shows
well-developed fault gouge planes at both lode walls, and favorable late calcite as fracture fillings.
There is a dull greenish brown, strongly sericitic altered diabasic dike which occurs within the lode
structure at the footwall side.
At the surface, directly above this well-mineralized westernmost face of the Mojave Girl Vein, there
is a significant sericitic alteration bloom. This alteration zone can be traced along the surface for
approximately 300 feet (90m) westward as a zone of softer, bleached, moderate iron oxide staining
in the quartz monzonite. This zone of alteration and strong fracturing has rendered the rocks softer
and more easily eroded, resulting in a 300 foot (90m) long area of negative topographic expression.
There is a discernable reddish-brown coloration of the soil, which is coincident with the alteration
and negative topographic expression.
The above listed characteristics have been observed to frequently accompany historically mined ore
shoots in this vein system. The portions of the Mojave Girl Vein, which had been stoped were
generally near strongly sericitic altered diabasic dikes where they either cross cut the lode structure
or are found within the lode zone. The rock competency contrast between the soft, altered dikes and
the harder quartz monzonite wall rocks appears to provide an important structural ore control.
Mr. Payne P. Geo states, “other similar intense barren sericitic alteration blooms have been found
to be reliable surface expressions overlying high-grade gold-quartz ore shoots to depth in other
similar orogenic style vein systems. Exploratory core holes, which have been directed to test
beneath similar sericitic alteration blooms, have resulted in numerous new high-grade gold ore shoot
discoveries elsewhere in California. Based upon historical precedent, there is a high-level of
confidence that drill testing the Western Mojave Girl Vein exploration target could result in a new
gold discovery, “In addition, “barren sericitic alteration bloom features can be enhanced, particularly
where the wall rocks to lodes are felsic to intermediate crystalline intrusive rocks. The Western
Mojave Girl Vein exploration target could be easily tested with 400 to 600 foot (120-180m) core
holes collared from an existing road, located near the target.”
The sampling was overseen and delivered to American Assay Labs, located in Sparks Nevada by
the Company’s California registered geologist, Mark Payne P.Geo. #7067 under the guidance of the
Company’s Independent Qualified Person Dr. Lee Groat who has reviewed, verified, and approved
the technical information contained in this news release as required under NI 43 101.
Work underway:
The Company continues to evaluate an under-explored system of both E-W and N-S trending gold-
bearing quartz veins evident at the La Dama De Oro property. Historic high-grade gold production
was derived from three separate E-W striking lodes: the Mojave Girl, Tarantula, and Mojave Boy
veins. The Tarantula, Mojave Boy, and strike extensions of the Mojave Girl lode have not yet been
evaluated by the Providence team. Geophysics and trenching of this area are being considered; as
the N-S, trending lodes were not systematically prospected or developed in the past. They are
strongly mineralized and remain excellent exploration targets, particularly at locations where they
(project to) intersect or join the productive E-W striking lodes. In addition to the above features; a
zone of sheeted vein stockworks with visible mineralization was discovered on the adjoining
mountain side. Further work is being planned to determine the significance of that occurrence.
Additionally, plans continue to further channel sample the Mojave Girl Vein underground once fallen
rock and air conditions have been resolved.
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, and mill site, and is approved for a bulk sample. The
Property has not yet been drilled and is currently undergoing modern-day scientific target exploration
which provides an excellent untapped opportunity to identify NI 43 101 compliant resources.
The largest mined vein (Mojave Girl) is 5 feet at its widest point and remains open both down dip
and for over 6,000 feet along strike. The gold system has potential, not just within the La Dama de
Oro and Tarantula and other known veins, but as well for additional discoveries.
For more information, please contact Ronald Coombes, President, and CEO of the Company.
Ronald A. Coombes, President & CEO
Phone: 604 724 2369
Email [email protected]
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