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VANCOUVER October 22, 2025 TheNewswire - Providence Gold Mines Inc. ("Providence" or the "Company") is very pleased to announce that the Company has received TSXV Regulatory conditional approval for its Fundamental La Dama de Oro Reviewable Transaction, the La Dama de Oro NI 43 101 report can be reviewed on SEDAR. The consideration payable by the Company to the Optionor "Mohave Gold Mining and Exploration Inc". a privately held company under the laws of Nevada duly operating in the State of California is as follows:
Securities
- 2,000,000 common shares within 15 days of Regulatory approval.
- 2,000,000 common shares on or before the first anniversary of the Agreement.
- 500,000 common shares on or before the second anniversary of the Agreement.
Work Commitments
- $20,000 CAD within the first year.
- An additional $250,000 before the second-year anniversary.
- An additional $250,000 before the third-year anniversary.
- An additional $250,000 before the fourth-year anniversary.
Once the above consideration is completed the Company will have earned a 100 percent interest
in the property. Mohave Gold will retain a 2 % NSR which Providence shall have the right to
buy back 1% for $500,000 USD.
In addition to the conditional approval of the Fundamental Transaction the Company wishes to announce receipt of TSXV approval to announce completion of a first tranche of the recently announced financing for a total of 1,604,800 Units of the Private Placement for total gross proceeds in the amount of $ 80,240. With the fundamental transaction completed the Company is positioned to move forward with the Private Placement financing which the TSXV has granted an extension to until November 20,2025.
The Private Placement dated for reference September 12, 2025, consists of a Unit Private Placement financing of up to $250,000. Each Unit consists of one common share and one full nontransferable warrant priced in the amount of $0.05 for one Common Share and one full nontransferable warrant priced in the amount of $0.05 exercisable 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 the potential available mineralization and surface exploration at the La Dama De Oro gold and silver
property.
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, Mill Site, and is approved for a bulk
sample The property has had no drilling or any modern-day scientific exploration and consequently has not developed or identified any NI 43 101 compliant resources.
The La Dama de Oro Property is 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-sulfidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multi-phase 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 of strike.
Ronald A. Coombes, President & CEO states; "having permits in place provides certainty to realize opportunity to seize any robust untapped potential of the La Dama de Oro gold and silver property " .
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 NI 43-101. Mr. Black is a consultant and is independent of Providence Gold Mines Inc.
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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