Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES INC. INCREASES FINANCING

Further to the news release of Jan. 16, 2026, Providence Gold Mines Inc. has increased the announced private placement of up to $150,000 to up to $180,000. Each unit consists of one common share and one full non-transferable warrant repriced to 6.5 cents from five cents. The warrants are exercisable for a period of two years from the date of issue. Finders' fees may be paid at 7 per cent cash and 7 per cent finder warrants exercisable at 6.5 cents for a period of one year from the date of issue.

The proceeds from the private placement will be used for administration and continued sampling of the underground and surface workings to evaluate the potential of the available mineralization in advance of the planned 1,000-ton bulk sample at the La Dama De Oro gold and silver property.

Remedial road work on the main access road has been completed during the past several weeks. Once sampling confirms the robust potential mineralized zone, the company then plans to commence the 1,000-ton bulk sample by April, 2026.

The property

The La Dama de Oro gold property is a historical high-grade gold producer and has permits for water, road, environmental, plan of operations and a mill site and is approved for a bulk sample. The property has had no drilling or any modern-day scientific exploration and consequently has no developed or identified National Instrument 43-101-compliant resources.

The La Dama de Oro property is in the Silver Mountain mining district, within the structurally complex Eastern California shear zone and the intersection with the San Andreas fault zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder volcanics. The structural geology of the region implies a sequence of compressional and extensional events that reactivated favourably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro fault, a shallow northeast-dipping oblique-slip fault.

The mineralization at the property is classified as a structurally controlled, low-sulphidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multiphase quartz veining, brecciation and pervasive hydrothermal alteration along the La Dama de Oro fault. The largest known vein is 4.5 feet at its 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 vein and other known veins but as well for additional discovery of other yet-to-be-discovered veins.

The scientific and technical information contained in this news release has been reviewed and approved by Zachary Black, SME-RM, a qualified person as defined under NI 43-101. Mr. Black is a consultant and is independent of Providence Gold Mines.

We seek Safe Harbor.