(TheNewswire)
Vancouver, BC - TheNewswire – February 22, 2022, Providence GoldMines Inc. (“Providence” or the “Company”)(TSXV:PHD ) U S( OTC:PRRVF ) ( FRANKFURT:7RH1-F) – Providence Gold Mines Inc. is pleased toannounce that Aero Geometrics Ltd. of Vancouver, BC has produced anenhanced model of the target data for the numerous significantpast-producing high-grade gold targets on the Providence Group of GoldMines property. The model will be used to ensure drill holes intersectthe numerous underground past-producing gold targets.
The Company continues to secure Private Placement financing for itsplanned 4000 m drill program.
TO RECAP: In2017, the Company commissioned Aero Geometrics Ltd. to undertake anaerial photogrammetry survey over the entire Providence Gold Minesproperty. In 2019 the Company commissioned Aero Geometrics Ltd. toproduce a three-dimensional laser (LIDAR) survey of the underground600’ level of the historic Providence Mine.
Both tasks were completed successfully and now AeroGeometrics Ltd. has combined the surface terrain and underground LIDARdata to produce a three-dimensional targeting model. An example can beviewed here: https://www.providencegold.com/enhanced-real-time-drill-target-modelling
QUALIFIED PERSON: Dr. Lee Groat Ph.D., P.Geo, is the Company’s qualifiedperson (as defined under NI43-101 and has read and approved the technical information containedin this news release) . Mark Payne P.Geo isregistered in the State of California is working under the directsupervision of Lee Groat, P.Geo, Q.P.
The Providence Group of Gold Mines is located nearSonora, California, in the prolific gold-bearing Mother Lode goldbelt. For more information, contact RonaldCoombes, President & CEO of the Company.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President &CEO
Phone: (604) 724-2369
Email: rcoombes@providencegold.com
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CAUTIONARY STATEMENT REGARDINGFORWARD-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 ’ sworking capital and financing opportunities and statements regardingthe exploration and mineralization potential of theCompany ’ s properties,are forward-looking statements. Forward-looking statements are subjectto business and economic risks and uncertainties and other factorsthat could cause actual results of operations to differ materiallyfrom those contained in the forward- looking statements. Importantfactors that could cause actual results to differ materially fromProvidence Gold Mines expectations include fluctuations in commodityprices and currency exchange rates; uncertainties relating tointerpretation of drill results and the geology, continuity and gradeof mineral deposits; the need for cooperation of government agenciesand native groups in the exploration and development of properties andthe issuance of required permits; the need to obtain additionalfinancing to develop properties and uncertainty as to the availabilityand terms of future financing; the possibility of delay in explorationor development programs and uncertainty of meeting anticipated programmilestones; and uncertainty as to timely availability of permits andother governmental approvals. Forward-looking statements are based onestimates and opinions of management at the date the statements aremade. Providence Gold Mines does not undertake any obligation toupdate forward-looking statements except as required by applicablesecurities laws. Investors should not place undue reliance onforward-looking statements.
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