Gold Discovery Target Confirmed

TSXV: PHD

USOTC: PRRVF

June 7, 2021 7RH1 “GR- FRANKFURT

Gold Discovery Target Confirmed

VANCOUVER – June 7, 2021. Providence Gold Mines Inc. (“Providence” or the “Company”) (TSXV:

PHD) is pleased to update on its field exploration program during the past several weeks which was

designed to evaluate both a stockpile milling site and further conduct property wide field exploration.

Mark Payne, P.Geo and David Turner, P.Geo verified the discovery of an additional gold occurrence.

Mark Payne P.Geo states, “Surface reconnaissance at the location of a previously reported circular gold-

in-soil anomaly confirms the discovery of a localized coincident sericitic alteration bloom and there

appears to be an association to a prominent cross-fault. This surface exploration gold target appears to

be situated north of, and in the footwall of the Fairplay Lode, which hosted the Providence North and

South Ore shoots. This discovery target shows good potential and is planned be tested in the near future

by trenching with a “Spydex” excavator and core drilling from existing roads”.

At the Bonita Mine, located at the northern end of the property, disclosed the presence of two separate

barren sericitic alteration blooms which represent two new exploration targets in that area. Further

reconnaissance in the Bonita area is warranted. Typically, intense barren sericitic alteration blooms

constitute high-confidence exploration targets at Mother Lode Belt mine properties.

Further surface reconnaissance in underground examination of the 600-ft Level developments

provided an opportunity to examine the structural controls for the historic ore shoots and the visual

common denominators characterizing the historic mined high-grade gold mineralization.

Examination of the geology in the Consuela Cross-Cut on the 600 Level disclosed the potential for a

bulk-tonnage exploration gold target situated north of the cross-cut and west of the historic McCarthy

North and South Ore shoots, localized adjacent to a prominent cross-fault.

A pervasively sericitic altered dioritic intrusive is cut by a pervasive, stacked tensional array of quartz

fracture fillings which may constitute an excellent bulk-tonnage target in closer proximity to the

prominent cross-fault. This cross-fault separated the historic McCarthy North and South Ore shoots”.

Surface outcrop of the Bonita Lode structure showed a 1.5-meter-wide zone of strongly-deformed,

sericite + carbonate + pyrite schist cut by semi-conformable quartz stringers up to 6cm thick. The lode

is bounded by strong planar fault walls and the lode filling is cut by additional intra-vein fault planes.

Qualified Person:

David Turner 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.

ON BEHALF OF THE BOARD

"Ronald Coombes"

Ronald A. Coombes, President & CEO

Office: (604) 688-8200

Email: [email protected]

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www.ProvidenceGold.com

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.

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