Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES INC. CLOSES FINANCING

Providence Gold Mines Inc., further to the news release of Jan. 16, 2026, has received final approval to close the non-brokered private placement, dated for reference Sept. 11, 2025, for a total of 1,604,800 units at a price of five cents per unit for gross proceeds of $80,240. The approval was subject to the final approval of the reviewable transaction announced on Jan. 16, 2026.

Each unit consists of one common share and one full non-transferable warrant, exercisable at five cents per warrant, for a period of two years from the date of issue.

The proceeds from the private placement will be used for administration and sampling of the underground workings to evaluate potential of available mineralization at the La Dama De Oro gold and silver property. Remedial road work on the main access road has been completed during the past several weeks.

The property

The La Dama de Oro gold property is a historical high-grade gold producer, and has permits for water, road, environmental, plan of operations and mill site, and is approved for a bulk sample. The property has had no drilling or any modern-day scientific exploration, and consequently has no developed or identified National Instrument 43-101-compliant resources.

The La Dama de Oro property is located in the Silver Mountain mining district, within the structurally complex eastern California shear zone and the intersection with the San Andreas fault zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder volcanics. The structural geology of the region implies a sequence of compressional and extensional events that reactivated favorably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro fault, a shallow northeast-dipping oblique-slip fault.

The mineralization at the property is classified as a structurally controlled, low-sulphidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multiphase quartz veining, brecciation and pervasive hydrothermal alteration along the La Dama de Oro fault. The largest known vein is 4.5 feet at its widest point and remains open to exploration for over 6,000 feet. The gold system has potential not just within the La Dama de Oro vein and other known veins, but as well for additional discovery of other parallel veins.

The scientific and technical information contained in this news release has been reviewed and approved by Zachary Black, SME-RM, a qualified person as defined under National Instrument 43-101. Mr. Black is a consultant and is independent of Providence Gold Mines.

We seek Safe Harbor.