Providence Gold Mines Inc. Options La Dama de Oro Gold Property

(TheNewswire)

VANCOUVER – August 29, 2025 – TheNewswire - Providence Gold Mines Inc. (“Providence” or the “Company”) in addition to the news release of August 20,2025 announcement that ithas entered into an Option Agreement to acquire 100 % of the “LaDama de Oro Gold Property” from “Mohave Gold Mining”. The Optionis subject to a two percent NSR with the right for the Company to buyback one percent for $500,000 USD.

The Option Agreement is subject to Regulatory approval.The Property is a historical gold mine 100% owned by the Optionor,(” Mohave Gold Mining”), a private Company incorporated under thelaws of the state of California.

Providence recently commissioned Ethos Geological Inc.of Bozeman MT to complete an NI 43 101 technical report, authored byZachary Black, SME-RM acting as the Qualified Person under NI 43 101.  The NI 43 101 technical report has been submitted for Exchangereview and approval. A cautionary note: The property is at an earlyexploration stage and does not have sufficient data for a mineralresource.

The La Dama de Oro Property is situated in the SilverMountain Mining District, within the structurally complex EasternCalifornia Shear Zone and the intersection with the San Andreas FaultZone. Bedrock geology includes Mesozoic quartz monzonite that intrudesthe Jurassic Sidewinder Volcanics. The structural history of theregion implies 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, with the potentialfor additional undiscovered veins along the fault system. The propertyhas an approved exploration permit that includes a bulk sample.

The Option entitles the Company the right to purchase100% of the La Dama de Oro Gold Property under the followingterms:

YEAR 1

Within 15 days of Regulatory approval the Company shallissue 2,000,000 common shares from treasury and incur $20,000 inexpenditures within 12 months of the effective date.

YEAR 2

The Company shall issue an additional 2,000,000 commonshares from treasury and incur $250,000 in expenditures before thesecond-year anniversary of the effective date

YEAR 3

The Company shall issue an additional 500,000 commonshares from treasury and incur a further $250,000 in expendituresbefore the third-year anniversary date of the effective date

YEAR 4

The Company shall incur an additional $250,000expenditures before the fourth-year anniversary of the effectivedate

Mohave Gold Mines will retain a two percent NSR whichthe Company will have the right to buy back one percent for $500,000USD.

Ronald A. Coombes, President &CEO ofProvidence commented; “The best place to explore for gold is wheregold is, with the rich historical history of past goldproduction at the La Dama de Oro mine there remains very good discoverypotential” .

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 of the Company.

Ronald A. Coombes, President &CE

Phone: 604 724 2369

roombes@providencegold.com

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

Copyright (c) 2025 TheNewswire - All rights reserved.