PHD:CC - Providence Gold Mines Inc. Announces Financing Update on the La Dama de Oro Gold Property
(TheNewswire)
VANCOUVER – September 12, 2025 – TheNewswire - Providence Gold Mines Inc. (“Providence” or the “Company”) is pleased to announce a non brokered Unit Private Placement Financingof up to $250,000 through the issuance of 5,000,000 units oof theCompany (each a “Unit”) the (“Private Placement”). Each Unitwill consist of one Common Share and one full Warrant exercisable fora period of two years. The Unit is priced at $0.05 for one CommonShare in the Capital of the Company (a “Common Share”) and onenontransferable full Warrant. Each nontransferable Warrant willentitle the holder to purchase one additional Common Share at a priceof $0.05 for a period of 24 months from the date of closing of thePrivate Placement will be subject to the approval of the TSXV.
All securities issued with respect to the PrivatePlacement will be subject to a four month plus one day hold periodfrom the date of issuance in accordance with applicable securitieslaws. Closing of the Private Placement is subject to all necessaryregulatory approvals. The Company intends to issue the Units pursuantto the prospectus exemptions set out in National Instrument 45-106-Prospectus Exemptions including the accredited investor exemption andfamily, friends, and business associates’ exemption.
The Company intends to use funds from the net proceedsfor Regulatory Fees, sampling and evaluation of the existing potentialunderground mineralization at the La Dama De Oro , historical “Ace in the Holestope” , located near surface, geochemicalsurface survey and administration
As reported previously, an NI 43 101 has been submittedto the TMX V Exchange for review and approval., The Regulators initialreview determined that the submission would be treated as aFundamental Transaction requiring additional information and theCompany is responding accordingly.
Property Summary:
Permits for a Bulk Sample, Water,Road Access, Environmental, Plan of Operation, Mill Site have beenapproved. To date, there has not been any known drilling or modern-dayScientific exploration or identified NI 43 101 resources.
The La Dama de Oro Property is in the Silver MountainMining District, within the structurally complex Eastern CaliforniaShear Zone and the intersection with the San Andreas Fault Zone.Bedrock geology includes Mesozoic quartz monzonite that intrudes theJurassic Sidewinder Volcanics. The structural history of the regionimplies a sequence of compressional and extensional events thatreactivated favorably oriented zones of weakness for the circulationof hydrothermal fluids. The main zone of mineralization is hosted bythe La Dama de Oro Fault, a shallow northeast-dipping oblique-slipfault.
The mineralization at the property is classified as astructurally controlled, low-sulfidation epithermal gold-silver veinsystem. Gold and silver mineralization is associated with multi-phasequartz veining, brecciation, and pervasive hydrothermal alterationalong the La Dama de Oro Fault. The largest known vein is 4.5 feet atits widest point and remains open to exploration for over 6,000 feet.The gold system has robust potential not just within the La Dama deOro vein, but as well for additional undiscovered veins along thefault system.
Ronald A. Coombes, President &CEO commented; “having all permits in place gives certainty to realizepotential future opportunity for production at the La Dama de Oromine ” .
The scientific and technical information contained inthis news release has been reviewed and approved by Zachary Black,SME-RM, a Qualified Person as defined under NI 43-101. Mr. Black is aconsultant and is independent of Providence Gold Mines Inc.
For more information, please contact Ronald Coombes,President, and CEO directly at
6047242369.
Ronald A. Coombes, President &CE
Phone: 604 724 2369
CAUTIONARY STATEMENTREGARDING FORWARD-LOOKING INFORMATION
Neither the OTCQB and or the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
All statements, trend analysis and other informationcontained in this press release relative to markets about anticipatedfuture events or results constitute forward-looking statements. Allstatements, other than statements of historical fact, included herein,including, without limitation, statements relating to the permittingprocess, future production of Providence Gold Mines, budget and timingestimates, the Company’s working capital and financing opportunitiesand statements regarding the exploration and mineralization potentialof the Company’s properties, are forward-looking statements.Forward-looking statements are subject to business and economic risksand uncertainties and other factors that could cause actual results ofoperations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual resultsto differ materially from Providence Gold Mines expectations includefluctuations in commodity prices and currency exchange rates;uncertainties relating to interpretation of drill results and thegeology, continuity and grade of mineral deposits; the need forcooperation of government agencies and native groups in theexploration and development of properties and the issuance of requiredpermits; the need to obtain additional financing to develop propertiesand uncertainty as to the availability and terms of future financing;the possibility of delay in exploration or development programs anduncertainty of meeting anticipated program milestones; and uncertaintyas to timely availability of permits and other governmental approvals.Forward-looking statements are based on estimates and opinions ofmanagement at the date the statements are made. Providence Gold Minesdoes not undertake any obligation to update forward-looking statementsexcept as required by applicable securities laws. Investors should notplace undue reliance on forward-looking statement
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