Mr. Ronald Coombes reports

LA DAMA DE ORO GOLD PHASE TWO EXPLORATION UPDATE

Further to the May 11, 2026, news release, Providence Gold Mines Inc. has completed its second phase of exploration stockpile target sampling at its La Dama de Oro gold and silver property, located near the city of Victorville, Calif.

The sampling was overseen and delivered to the American Assay Lab by the Company's California registered geologist, Mark Payne, PGeo No. 7067, under the guidance of the company's independent qualified person Dr. Lee Groat, who has reviewed, verified and approved the technical information contained in this news release as required under National Instrument 43-101.

The first phase of the company's exploration target stockpile trench sampling resulted in locating an estimated volume of 600 to 650 tons. The volume was quantified by using the known slope, the width, the length and the depth of the stockpile material. Continuous trench sampling results returned assays from 0.032 ounce per ton (1.1 grams per tonne) to 0.233 ounce per ton (8.0 grams per tonne).

The second phase of exploration targeting was designed to increase the volume of stockpile material for the 1,000-ton (909-tonne) permitted bulk sample.

Note of caution

The potential quantity and grade are conceptual in nature, there is insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

New underground vein discovery

Additionally, Mr. Payne, PGeo, discovered a 1.5-foot-wide (0.22-metre) lode zone in La Dama De Oro mine workings at the 4,180-foot level (1,274-metre level). The new exploration target was channel sampled at the westernmost underground exposure of the historically productive Mojave Girl vein structure. The channel sample was delivered to American Assay Labs, and results are pending.

Work under way

The company continues to evaluate an underexplored system of both east-west- and north-south-trending gold-bearing quartz veins evident at La Dama De Oro property. Historic high-grade gold production was derived from three separate east-west-striking lodes, the Mojave Girl, Tarantula and Mojave Boy veins. The Tarantula, Mojave Boy and strike extensions of the Mojave Girl lode have not yet been evaluated by the Providence team. Geophysics and trenching of this area are being considered; as the north-south trending lodes were not systematically prospected or developed in the past. They are strongly mineralized and remain excellent exploration targets, particularly at locations where they (project to) intersect or join the productive east-west-striking lodes. In addition to the above features, a zone of sheeted vein stockworks with visible mineralization was discovered on the adjoining mountain side. Further work is being planned to determine the significance of that occurrence.

All the samples from phase 2 have been delivered to American Assay Labs of Sparks, Nev., for either 1,000-gram screened metallic fire assay or 30-gram conventional fire assay analyses.

The property

La Dama de Oro gold property is a historical high-grade gold producer, has permits for water, road, environmental, plan of operations and mill site, and is approved for a bulk sample. The property has not yet been drilled and is currently undergoing modern-day scientific target exploration which provides an excellent untapped opportunity to identify National Instrument 43-101-compliant resources.

The largest mined vein (Mojave Girl) is five feet at its widest point and remains open both downdip and for over 6,000 feet along strike. The gold system has potential, not only within La Dama de Oro and Tarantula and other known veins, but also for additional discoveries.

We seek Safe Harbor.