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VANCOUVER TheNewswire - March 23, 2026, Providence Gold Mines Inc. ("Providence" or the "Company") announces that the Company has completed the first stage of its comprehensive stockpile and underground sampling of the La Dama de Oro gold and silver property, located southeast of Ontario, California. The sampling was overseen and delivered to the lab by Providence's California-registered geologist, Mark Payne P.Geo. #7067 under the guidance of the Company's Qualified Person under NI 43 101 Dr. Lee Groat.
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This first phase of sampling was designed to evaluate the best potential for our planned 1,000-ton (909 tonne) permitted bulk sample. This initial phase of sampling included the following:
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121 ft (37 m) of continuous trench sampling across three unprocessed rock piles at the 4300-ft Level (1310 mL) of the Mojave Girl Vein workings.
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Channel samples were collected at intervals across the full 180 ft (55 m) width of the Mojave Girl Vein at the 4180-ft Level (1275 mL), the lowest level of mining, to test the down-dip extension of the historic high-grade ore chute.
The Company is excited and very optimistic about the potential of the visible lode zones (see the attached link to review pictures) of the accessible underground stopes at La Dama de Oro. The accessed underground lode zones appear to have similar characteristics to other known orogenic-type gold-quartz vein systems such as those of the Mother Lode Gold Belt mines of northern California.
An under-explored system of both E-W and N-S trending gold-quartz lodes is evident at the La Dama De Oro property. Historic high-grade gold production was derived from three separate E-W 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. The N-S 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 E-W striking lodes. In addition to the above, a zone of sheeted vein stockworks with visible mineralization was discovered on the adjoining mountainside; further work is being planned to determine the significance of the new discovery.
The samples have been delivered to American Assay Labs of Sparks, Nevada for either 1000-gram screened metallic fire assay and or 30-gram conventional fire assay analyses. The expected turn-around time for analytical results is less than three weeks.
The Property:
The La Dama de Oro gold property is a historic high-grade gold producer. Permits are in hand for water, roads, environment, mill site, operations plan, and a 1,000-ton bulk sample. Presently, the Property has had no drilling and is currently undergoing modern-day scientific exploration which provides an excellent untapped opportunity to identify NI 43 101 compliant resources.
The largest mined vein (Mojave Girl) is 5 ft at its widest point and remains open both down-dip and for over 6,000 ft along strike. The gold system has potential not just within the La Dama de Oro and Tarantula and other known veins but as well for additional discoveries.
For more information, please contact Ronald Coombes, President, and CEO of the Company.
Ronald A. Coombes, President & CEO
Phone: 604 724 2369
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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