Mr. Ronald Coombes reports

PROVIDENCE GOLD MINES INC. ANNOUNCES FINANCING

Providence Gold Mines Inc. has arranged a non-brokered private placement of up to 20 million units at a price of five cents per unit for gross proceeds of up to $1-million. Each unit consists of one common share and one share purchase warrant, exercisable at a price of seven cents for a period of one year. Proceeds raised from the offering will be used to further advance the La Dama De Oro gold property and for general and administrative purposes.

Finders' fees may be paid pursuant to this financing.

The financing is subject to TSX Venture Exchange approval.

We seek Safe Harbor.