Providence Gold Mines Inc. Receives Regulatory Approvals for Fundamental Transaction & The La Dama de Oro Gold Property NI 43-101 Report

(TheNewswire)

VANCOUVER – October 22, 2025 – TheNewswire - Providence Gold Mines Inc. (“Providence” or the “Company”) is very pleased to announce that the Company has received TSXVRegulatory conditional approval for its Fundamental La Dama de OroReviewable Transaction, the La Dama de Oro NI 43 101 report canbe reviewed on SEDAR. The consideration payable by the Company to theOptionor “Mohave Gold Mining and Exploration Inc”. a privatelyheld company under the laws of Nevada duly operating in the State ofCalifornia is as follows:

Securities

• 2,000,000 common shares within 15 days of Regulatoryapproval.

• 2,000,000 common shares on or before the firstanniversary of the Agreement.

• 500,000 common shares on or before the secondanniversary of the Agreement.

Work Commitments

• $20,000 CAD within the first year.

• An additional $250,000 before the second-yearanniversary.

• An additional $250,000 before the third-yearanniversary.

• An additional $250,000 before the fourth-yearanniversary.

Once the above consideration is completed theCompany 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 theFundamental Transaction the Company wishes to announce receipt of TSXVapproval to announce completion of a first tranche of the recentlyannounced financing for a total of 1,604,800 Units of the PrivatePlacement for total gross proceeds in the amount of $ 80,240. With thefundamental transaction completed the Company is positioned to moveforward with the Private Placement financing which the TSXV hasgranted 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 fullnontransferable warrant priced in the amount of $0.05 for one CommonShare 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 foradministration and sampling of the underground workings to evaluatethe potential available mineralization and surface exploration at theLa Dama De Oro gold and silver

property.

The Property:

The La Dama de Oro goldproperty is a historical high grade gold producer and has permits

for Water, Road, Environmental, Planof Operations, Mill Site, and is approved for a bulk

sample The property has had no drilling or anymodern-day scientific exploration and consequently has not developedor identified any NI 43 101 compliant 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 geology 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 feetof strike.

Ronald A. Coombes, President &CEO states;“having permits in place provides certainty to realize opportunityto seize any robust untapped potential of the La Dama de Oro gold andsilver property ” .

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& CEO

Phone: 604 724 2369

roombesresources@gmail.com.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.