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VANCOUVER TheNewswire - December 11, 2025 Providence Gold Mines Inc. (TSX-V: PHD) (" Providence " or the " Company ") is extremely pleased to announce that it has entered into an underground mining lease agreement (the " Lease ") with Easy Mining Company Ltd . ("Easy Mining").
Easy Mining is an experienced and well-regarded underground mining contractor with operations in Canada and the United States and an office in Winnipeg, Manitoba. 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, USA. Easy Mining is authorized to extract a 1,000-ton bulk sample over a twelve-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:
- Easy Mining will pay the La Dama de Oro the Property Optionor, "Mohave Gold Mining and Exploration Inc.", a 2% Net Smelter Royalty "NSR"
- 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 & CEO, 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 September 12, 2025, and October 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 $0.05 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 2,000,000 units at a price of $0.05 per unit, for gross proceeds of up to $100,000. Each unit will consist of:
- one common share; and
- one full, non-transferable warrant exercisable at $0.05 for a period of two years from the date of issue.
For more information, please contact Ronald Coombes, President, and CEO of the Company.
Ronald A. Coombes, President & CEO
Phone: 604 724 2369
roombesresources@gmail.com.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither the OTCQB and or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company's working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company's properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statement
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