Providence Gold Discloses Discovery of Significant Archived Report

TSXV: PHD

USOTCQB: PRRVF

May 4, 2022 GR-FRANKFURT: 7RH1

Providence Gold Discloses

Discovery of Significant Archived Report

Providence Gold Mines “the Company” is extremely pleased to report that an archived report has been

discovered in the files of a lawyer’s office in Sonora, CA. The Company believes the historical reported

technical information is to the standard of the day and is of significance as it further verifies the potential of

the Providence Group of Gold Mines. Excerpts from this historical report are as follows:

Composite Report June 16, 1933

Author unknown but described as “…a composite report made up from the reports of William Bluett,

William Chapman, Chas. R. Thompson, W. E. Dean, and others which reports are available for inspection

of interested persons.”

“These properties have been developed to a depth of 1470 feet on the dip of the vein, with many thousands

of feet of underground workings, drifts, and crosscuts. They have produced mineralization credited with

having yielded $1,500,000 worth of gold bullion and have at the present time many thousands of tons of

low-grade mineralization available, which, with modern machinery and equipment, can be worked at a profit.

In the past only the high-grade mineralization was extracted, leaving the lower grade mineralization in place,

although in many places fine ore has been developed and is now available.

The properties are in condition where, with reasonable development and the installation of modern

equipment they can supply for many years to come a 100 ton per day mill with sufficient mineralization to

keep it running at its full capacity. The properties under one management constitute a well-developed mine,

ready for immediate operation once it has been reopened and repaired. Of course, as additional

development work is done more ore will be exposed and blocked out. Un-questionably, additional oreshoots

and lenses of mineralization running over $2,500.00 to the ton in gold content. The larger bodies of good

milling material and low-grade mineralization can be depended upon to pay a profit in operations so that

the occasional bunches or bodies of bonanza mineralization will make possible much greater profits for the

operating company.

It will be observed that, with the expenditures of $30,000.00 as herein set out, additional mineralized bodies

will be opened and added to the mineralization now ready for milling, ensuring continuous operation for a

modern mill of 100 tons daily capacity for several years, and this available material can be constantly added

to by the constant development of the mineralized bodies known to exist on the properties. In fact the shaft

should be sunk to the 3,000 foot level on the dip of the vein as soon as practicable, the drifts should be

extended to cut the mineralized bodies known to exist in the Consuela claim and the Bonita Mine, while a

cross-cut tunnel will make the mine accessible for operations down to the 660 foot level, dewater it down to

that level and provide an easy means to tramming the mineralization to a good mill site some 80 feet above

the river.

Once this additional development work is done so that a large quantity of material is blocked out, I believe

it will be possible for the operating company to secure the erection of a mill to treat such mineralization on

a basis which will permit the cost of the milling out material is a better method of expending the operating

company funds than the erection of a mill before enough mineralization has been blocked out to keep the

mill operating at least two years on a good average mineralization of what the mine contains.”

Table from the Composite Report June 16, 1933: “List of Assays Made on

Mineralization from the Providence Mine reported by William Bluett, Former Owner”

Oz. Gold Oz. Silver Values

January 3, 1910 75.28 1.35 $1506.27

January 10, 1910 2.8 0.8 56.40

October 18, 1911 111.8 132.2 2329.23

October 21, 1911 74.96

1499.20

October 25, 1911 12.96

259.20

October 25, 1911 32.44

648.80

November 3, 1911 108.65 29.0 2260.53

November 6, 1911 43.28

865.60

January 22, 1912 13.44

268.80

January 22, 1912 5.7

114.00

January 22, 1912 5.8

101.60

January 22, 1912 33.92

678.40

April 26, 1912 0.12

3.00

April 26, 1912 1.1

182.00

April 26, 1912 1.06

21.20

May 11, 1912 1.12

22.40

August 5, 1912 0.8

16.00

December 6, 1912 1.8

36.00

December 6, 1912 0.30

6.00

December 6, 1912 0.24

4.80

December 6, 1912 5.22

104.40

December 6, 1912 0.16

3.20

October 22, 1913 133.85 42.95 2,568.19

February 4, 1914 4.22 2.20 83.33

April - 1914 37.60 8.4 781.46

May - 1914 Concentrates 4.72 3.24 91.58

May 11, 1914 4.34

89.71

May - 1914 1.31

27.80

May - 1914 0.3

6.20

May - 1914 39.7

820.67

June 9, 1914 0.68

14.05

May 28, 1914 2.1

43.41

June 12, 1914 8.71

180.05

June 13, 1914 32.5

671.83

June 13, 1914 0.16

3.30

July 6, 1914 3.96 1.63 76.11

September 8, 1914 0.14 2.3 4.04

September 12, 1914 12.2 3.95 233.72

September 24, 1914 2.66 2.14 51.67

A copy of the original report will be posted on our web site: providencegold.com

Cautionary statement, this historical report is not NI 43 101 compliant and therefore should not be

relied upon to today’s standards. The Company believes the information was to the professional

standards of the day.

Since acquiring the Providence Group of Gold Mines the Company has verified that the property contains

high grade mineralization. The Company is now ready to drill the modeled targets of this promising past-

producing property.

Qualified Person:

Dr. Lee Groat Ph.D., 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).

About Providence Gold Mines Inc.:

Providence Gold Mining Inc. is an advanced-stage exploration and development Company holding an

option to purchase 100% interest in the Providence Group of Gold mines near the City of Sonora

California.

For more information, please contact Ronald Coombes, President, and CEO of the Company.

ON BEHALF OF THE BOARD

"Ronald Coombes"

Ronald A. Coombes, President & CEO

Phone: (604) 724-2369

Email: [email protected]

STAY TUNED! VISIT OUR WEBSITE FOR MORE DETAILS

www.ProvidenceGold.com

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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 statements.