(via TheNewswire)

VANCOUVER – TheNewswire - May 11, 2026 -- Providence Gold Mines Inc. (TSX-V: PHD | OTC: PRRVF | Frankfurt: 7RH1-F) ("Providence" or the "Company") reports positive gold assay results from the first phase of continuous surface stockpile sampling at the La Dama de Oro property, located near the city of Victorvile, California. Channel sampling across 121 ft (37 m) of Mojave Girl Vein stockpiles at the 4,300-ft Level returned values of up to 8.0 g/t Au, with several intervals above 4.0 g/t Au.

The Company's California-registered Geologist Mark Payne, P.Geo. (#7067), delivered the samples to American Assay Labs of Sparks, Nevada for 1,000-gram screened metallic fire assay and/or 30-gram conventional fire assay analyses. Mark Payne works under the guidance of Qualified Person Dr. Lee Groat (NI 43-101). Dr. Groat has reviewed and approved the technical content of this news release.

The first phase of sampling was designed to evaluate the best potential surface gold zones for the Company's planned 1,000-ton (909-tonne) permitted bulk sample. Based on Phase 1 results, an estimated 650 tons of material has been identified within the Mojave Girl stockpiles. The surface zone was examined over 121 ft (37 m) of continuous trench sampling across three piles at the 4,300-ft Level (1,310 mL) of the Mojave Girl Vein workings

. Highlights from Phase 1 Stockpile Sampling:  

• Sample 205048: 8.0 g/t Au (0.233 oz/t) over 8.4 ft  

• Sample 205050: 5.2 g/t Au over 11.8 ft   

• Sample 205056: 5.2 g/t Au over 5.7 ft   

• Sample 205053: 4.9 g/t Au over 7.6 ft 

Assay results from Mojave Girl stockpile as follows:

The accessed underground lode zones at La Dama de Oro share characteristics with other known orogenic-type gold-quartz vein systems, including those of the Mother Lode Gold Belt in northern California. An under-explored system of both E-W and N-S trending gold-quartz lodes is present on the property. Historic high-grade gold production derived from three separate E-W striking lodes. Our field Geologist Mark Payne noted that the largest known mined vein, Mojave Girl, is 5 ft at its widest point and remains open down-dip and for over 6,000 ft along strike.

Mojave Boy and the strike extensions of the Mojave Girl lode have not yet been evaluated by the Providence team. The N-S trending lodes were not systematically prospected or developed historically. They are strongly mineralized and remain priority exploration targets, particularly where they project to intersect the productive E-W lodes. A zone of sheeted vein stockworks with visible mineralization was also discovered on the adjoining mountainside and is being assessed.

Phase 2 Update: Building on Phase 1 success, the Company is now planning sampling three significant stockpiles at the Tarantula mine site, located approximately 100 metres from the La Dama de Oro mineralized stockpiles. Results from Phase 2 will provide planning for the full 1,000-ton permitted bulk sample. Shareholders should expect a further update as assay results are received.

The Company terminated its agreement with Easy Mining in favor of working with a processing group who has the equipment and expertise to mill the stockpile material. The milling equipment is currently warehoused near Victorville, California. Once phase two assay results are confirmed we will finalize the details.

The Property

La Dama de Oro is a historic high-grade gold producer located in California. All major permits are in hand, including water, roads, environmental, mill site, operations plan, and a 1,000-ton bulk sample permit. The property has had no prior drilling and is undergoing modern scientific exploration, providing an untapped opportunity to define NI 43-101 compliant resources. For photos of the property and accessible underground workings, visit: providencegold.com/gallery

For more information:

Ronald A. Coombes, President & CEO

Phone: 604-724-2369

rcoombesresources@gmail.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements are subject to business, economic, and other risks that could cause actual results to differ materially from those stated herein, including fluctuations in commodity prices and currency exchange rates; uncertainties related to interpretation of drill results, geology, continuity, and grade; the need for additional financing; and delays in exploration or permitting. Forward-looking statements are based on management estimates and opinions at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Copyright (c) 2026 TheNewswire - All rights reserved.