Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES INC. ANNOUNCES EXPLORATION

Providence Gold Mines Inc. has provided the 2024 exploration program plans to follow up the company's recently announced updated geology. The 2024 exploration program is designed to specifically target the discovery surface gold zone which yielded values of up to 17.5 grams per tonne gold. The company and technical team concur that the first priority is the surface discovery gold zone; to determine size and potential economic significance to be exploited.

Once substantiated, this gold discovery will be evaluated for blending with the previously reported stockpile material.

Ronald A. Coombes, president and chief executive officer of Providence, observed, "The best place to explore for gold is where gold is, with the Providence group of gold mines' famous history of high-grade gold production, there remains enormous potential!"

Gordon Gibson, PGeo, reported in the company's news release of April 9, 2024: "It is important to note that drill hole PR19-05 intersected a footwall splay vein of the central plume at the surface, returning 3.04 metres of 2.46 g/t Au. A surface, channel sample at the collar of hole PR19-05 returned 0.50 metres of 17.5 g/t Au. The splay vein of hole PR19-05, from the surface to the uppermost stopes of the Providence 100 level -- a zone measuring approximately 52 by 100 metres, is considered a prime gold target at surface."

The subsequent exploration phase is designed to include core drilling with a minimum of 4,000 metres of HQ core at the McCarthy and the Mexican shafts area. Previously reported on Sept. 21, 2021, sampling of a random 3.77-kilogram rock sample at the McCarthy portal yielded 77 to 97 g/t Au with multiple retests for quality assurance. Both the McCarthy and the Mexican shafts and general area nearby are the company's primary core drill targets.

Mr. Coombes states: "The company's professional geologist in the state of California, Mr. Mark Payne (Mr. Payne reports to our qualified person as required under NI 43-101), has been actively involved with gold exploration in the Motherlode gold belt for the past 45 years and been responsible for many new gold discoveries in the region. As a professional geologist Mr. Payne has been involved in our exploration programs at the Providence gold group of gold mines since 2021 and since then has identified many new exploration targets."

Mr. Payne has stated in his opinion "that the Providence group of gold mines represents a target-rich environment hosting a large potential gold endowment and that the property hosts a sizable and complex system of gold quartz veins, which has a proven legacy of high-grade gold production from multiple locations at the property."

The Providence group of gold mines is a famous historical high-grade gold producer. The property consists of the Providence, Fair play, Good Enough, Consuela, Bonita, McCarthy and Mexican mines.

In addition, property-wide surface drill targets continue to be refined near the McCarthy and Mexican shafts as well as an untested area north of the Mexican shaft, where significant ground preparation provides a favourable structural setting for hangingwall splay veins analogous to the historical Bonanza stope at the Providence mine. The Bonanza stope alone reported historical recovery of 50,000 ounces of high-grade gold.

The Providence group of gold mines production reportedly ceased in 1916 due to a dispute and a major fire which burned all the milling infrastructure and surrounding area to the ground; after that, the Spanish flu and war kept the property to remain amazingly idle until Providence Gold optioned the property in late 2017.

Providence geological team

The company's qualified person, Dr. Lee Groat, PhD, PGeo, is the company's qualified person (as defined under National Instrument 43-101) and has read and approved the technical information contained in this news release.

Mark Payne is the company's registered PGeo in the state of California and has specialized for over 45 years in the California Mother Lode gold belt.

Mr. Gibson, PGeo, is a structural expert and geologist with over 40 years of experience.

About Providence Gold Mines Inc.

Providence Gold Mining is an advanced-stage exploration and development company holding an option to purchase 100-per-cent interest in the Providence group of gold mines near the mining-friendly city of Sonora, Calif.

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