La Dama de Oro Gold Phase Two Exploration Update

Providence Gold Mines Inc. has completed Phase 2 exploration stockpile target sampling at its La Dama de Oro gold and silver property in California. The initiative aims to increase the volume of material available for a permitted 1,000-ton (909-tonne) bulk sample. Phase 1 previously identified an estimated 600 to 650 tons of material, with continuous trench sampling returning assays between 0.032 oz/t (1.1 g/t) and 0.233 oz/t (8.0 g/t).

All Phase 2 samples have been delivered to American Assay Labs for 1,000-gram screened metallic fire assay or 30-gram conventional fire assay. Additionally, a new 1.5-foot wide lode zone was discovered in the underground mine workings at the 4180-ft level, associated with the historic Mojave Girl vein structure. Channel sampling has been completed and results are pending.

The company is evaluating under-explored E-W and N-S trending gold-bearing quartz veins. Planned work includes geophysics and trenching to delineate NI 43-101 compliant resources. All necessary permits (water, road, environmental, plan of operations, mill site) remain in place, and the property is approved for the bulk sample. No modern drilling has been conducted to date.

Providence Gold Mines Inc. (PHD) released an update on June 29, 2026, marking steady, incremental progress toward its goal of executing a 1,000-ton bulk sample. The company reported the discovery of a new 1.5-foot lode zone, which remains at the early sampling stage with pending assays. This finding does not yet constitute a resource estimate or a material change in the company's valuation.

The progression from Phase 1 in May 2026 to Phase 2 in June 2026 aligns with management's prior guidance and the historical news timeline, with no surprises, misses, or unexpected delays. Given the company's early exploration stage and lack of defined resources, this update is expected by the market and serves as a routine operational milestone rather than a catalyst for immediate price appreciation.

Providence Gold Mines Inc. is an early-stage exploration company focused on the La Dama de Oro gold and silver property in California's Silver Mountain Mining District. The property is located within the Eastern California Shear Zone, intersecting the San Andreas Fault Zone. Geology consists of a low-sulfidation epithermal Au-Ag vein system hosted by the La Dama de Oro Fault. Historic production was derived from three E-W striking lodes: Mojave Girl, Tarantula, and Mojave Boy. The largest known vein (Mojave Girl) is up to 5 feet wide and remains open down-dip and for over 6,000 feet along strike.

The property holds all required permits for water, roads, environmental compliance, mill site, and operations, including approval for a 1,000-ton bulk sample. No modern drilling or NI 43-101 compliant resources have been defined to date.