Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF UNITS

Providence Gold Mines Inc. has closed its previously announced non-brokered private placement, whereby the company has completed the issuance of 1.7 million units of the company at a price of five cents per unit for gross proceeds of $85,000.

Each unit consists of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one common share in the capital of the company for a period of 24 months from the date of issue at an exercise price of nine cents per warrant share.

The private placement remains subject to final acceptance from the TSX Venture Exchange. The securities offered in the private placement are subject to a four-month-and-one-day transfer restriction from the date of issuance expiring on Aug. 26, 2025, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. No finders' fees were paid in connection with the private placement.

The company intends to use the proceeds of private placement for general working capital purposes.

We seek Safe Harbor.