Insider Closes First Financing Tranche
PROVIDENCE
INSIDER CLOSES FIRST FINANCING TRANCHE
TSX-V PHD
December 6, 2024. OTC-PINKS: PRRVF
FRANKFURT EXCHANGE 7RH1=F
Providence Gold Mines Inc. (“the Company”), is pleased to announce further to the November 20,2024 news release
an insider officer and director has completed a private placement in the amount of $75,000 Cdn for 1,500,000 units
at $0.05 per unit. Each unit comprises of one common share and one non -transferable warrant exercisable into one
common share of the Company at a price of $0.09 for a period of two years from the date of approval of closing. The
funds will be used for general purposes.
As announced, a placement of up to $1, 800,000 Cdn for 3 6,000,000 units at $0.05 per unit is now underway. Each
unit will comprise of one common share and one non -transferable warrant, exercisable into one common share of
the Company at a price of $0.09 for a period of two years from the date of closing.
USE OF PROCEEDS
The funds from this placement will be used for evaluation of the new gold surface discovery reported for reference
on May 6,2024 and for a significant drilling program of up to 2500m designed to target the historical McCarthy and
Mexican shafts and as well as an area north of the Mexican shaft where significant ground preparation provides a
favorable structural setting for hanging wall splay veins analogous to the historical ”Bonanza” stope at the
Providence mine first stope at surface alone produced 50,000 ounces. Ron Coombes states, “exploration efforts
have modelled potential for robust significant high grade gold targets”.
All securities issued will be subject to a hold period of four months and one day from the closing date of the private
placement, in accordance with applicable Canadian securities laws.
Qualified Person
Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved of the
technical information contained in this news release.
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.
ON BEHALF OF THE BOARD
“Ronald Coombes”
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Ronald Coombes
Mobile: 1- 604- 724-2369