Providence Gold Mines Inc. Closes Financing

(TheNewswire)

VANCOUVER – TheNewswire - January 22, 2026 - Providence Gold MinesInc. (TSXV:PHD) (“Providence” or the “Company”)announces that further to the news release ofJanuary 16, 2026, the Company has received finalapproval to close the non-brokered private placement dated forreference September 11, 2025, for a total of 1,604,800 units at aprice of $0.05 per unit for gross proceeds of $80,240. The approvalwas subject to the final approval of the reviewable transactionannounced on January 16, 2026.

Each unit consists of one common share and one fullnon-transferable warrant exercisable at $0.05 per warrant for a periodof two years from the date of issue.

The proceeds from the private placement will be usedfor administration and sampling of the underground workings toevaluate potential of available mineralization at the La Dama De Oro goldand silver property. Remedial road work on the main access road hasbeen completed during the past several weeks.

    The Property:

The La Dama de Oro gold property is ahistorical high grade gold producer and has permits for Water, Road,Environmental, Plan of Operations, Mill Site, and is approved for abulk sample The Property has had no drilling orany modern-day scientific exploration and consequently has nodeveloped or identified NI 43 101 compliant resources.

The La Dama de Oro Property is located 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 geology 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 for over 6,000 feet.The gold system has potential not just within the La Dama de Oro veinand other known veins but as well for additional discovery of otherparallel veins.

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

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

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