Providence Gold Mines Increases Private Placement to $180,000
VANCOUVER — February 4, 2026 — Leads & Copy — Providence Gold Mines Inc. is increasing its private placement offering to $180,000, up from the previously announced $150,000. The announcement follows the news release issued January 16, 2026.
Each unit in the private placement consists of one common share and one full non-transferable warrant. The warrants have been repriced to $0.065, up from $0.05. Warrants are exercisable for two years from the issue date.
Finder’s fees may be paid at 7% cash and 7% finder’s warrants. The finder’s warrants are exercisable at $0.065 for one year from the date of issue.
The company plans to use the proceeds for administration and continued sampling of underground and surface workings. This sampling will help evaluate the potential of available mineralization before the planned 1,000-ton bulk sample at the La Dama De Oro gold and silver property.
Remedial road work on the main access road has been completed in recent weeks. Following sampling to confirm the mineralized zone’s potential, the company intends to start the 1,000-ton bulk sample by April 2026.
The La Dama de Oro gold property is a historical high-grade gold producer with permits for water, road access, environmental considerations, a plan of operations, and a mill site. It is also approved for bulk sampling. The property has not been subject to drilling or modern scientific exploration, and therefore has no developed or identified NI 43-101 compliant resources.
The La Dama de Oro property is located in the Silver Mountain Mining District, within the Eastern California Shear Zone and its intersection with the San Andreas Fault Zone. The bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The region’s structural geology suggests a sequence of compressional and extensional events that reactivated favorable zones of weakness for hydrothermal fluid circulation. The main mineralization zone is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault.
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 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. The gold system has potential within the La Dama de Oro vein and other known veins, as well as for the discovery of additional veins.
Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101, has reviewed and approved the scientific and technical information in this release. Mr. Black is a consultant independent of Providence Gold Mines Inc.
Source: Providence Gold Mines Inc.
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