Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES INC. LA DAMA DE ORO GOLD, BULK SAMPLE AND FINANCING UPDATE

Providence Gold Mines Inc. has entered into an underground mining lease agreement with Easy Mining Company Ltd.

Easy Mining is an experienced and well-regarded underground mining contractor with operations in Canada and the United States, and an office in Winnipeg, Man. Providence welcomes Easy Mining's involvement at the company's fully permitted La Dama de Oro gold-silver project.

Under the terms of the lease, Providence grants Easy Mining the right to explore and mine within the existing underground workings at the La Dama de Oro property, located in the Silver Mountain mining district, California. Easy Mining is authorized to extract a 1,000-ton bulk sample over a 12-month period commencing on the date of the signed agreement.

Easy Mining will be responsible for underground mining, exploration and processing activities designed to evaluate mineralized material and determine appropriate metallurgical methods. As part of the lease:

1. Easy Mining will pay the La Dama de Oro property optionor, Mohave Gold Mining and Exploration Inc., a 2-per-cent net smelter return (NSR) royalty;
2. Any gross proceeds generated from bulk sample mining will then be divided equally (50/50) between Easy Mining (the lessee) and Providence (the lessor).

Ronald A. Coombes, president and chief executive officer, commented, "Having all permits in place and securing an agreement with Easy Mining Company Ltd. provides a clear path to advance and evaluate the La Dama de Oro gold-silver project.

Private placement updates

Further to the company's news releases dated Sept. 12, 2025, and Oct. 22, 2025, Providence has closed its previously announced private placement. A total of 1,604,800 units were issued for gross proceeds of $80,240. Each unit consists of one common share and one full, non-transferable warrant exercisable at five cents for a period of two years from the date of issuance.

Proceeds from the private placement will be used for general administration and for sampling activities to assess mineralization potential at the La Dama de Oro project. The company intends to proceed immediately with work related to the permitted 1,000-ton bulk sample.

New unit private placement

The company also (subject to regulatory approval) announces a non-brokered private placement of up to two million units at a price of five cents per unit, for gross proceeds of up to $100,000. Each unit will consist of:

• One common share;
• One full, non-transferable warrant exercisable at five cents for a period of two years from the date of issue.

We seek Safe Harbor.