Providence Gold Mines Reports Encouraging Gold Assay Results from Tarantula Mine Stockpile Sampling

VANCOUVER, British Columbia — September 3, 2026 — Leads & Copy — Providence Gold Mines Inc. announced new gold assay results from the second stockpile trenching sample program at the Tarantula mine on the La Dama De Oro gold property. The property is situated approximately a 40-minute drive from Victorville, California. The company plans to recover gold from identified stockpiles, utilizing a permitted up to 1,000-ton bulk sample, which is expected to demonstrate potential recovery simplicity and cash flow generation.

The sampling was overseen by Mark Payne P. Geo # 7067 and delivered to American Assay Labs in Sparks, Nevada, for analysis using conventional 30-gram gold silver fire assay. Mr. Payne works under the guidance of Dr. Lee Groat, the Company’s Independent Qualified Person, who has reviewed and approved the technical information in accordance with NI 43-101 standards.

Stockpile phase-two trenching results from the Tarantula mine include findings from the North Trench (4188 FEET ELEVATION) yielding sample widths of 5 feet with gold assays of 8.1 and 8.9 grams, and 5 feet with 2.4 and 1.1 grams. The South Trench (4188 FEET ELEVATION) provided results of 4 feet with 0.9 grams, 4 feet with 2.9 grams, and 4 feet with 1.6 grams. Additional results from Trench 5 FT North (4188 FEET ELEVATION) showed 5 feet with 3.9 grams and 5 feet with 6.2 grams. The true width of depth was unknown at each sample location.

Further analysis of a 55kg sample involved extracting 22kg of material larger than ¾ inch. The remaining 33kg of material was then sampled, upgrading the sample provided from 8 grams to 14 grams of gold per ton. Initial findings are described as encouraging, with further testing planned.

Ron Coombes, President and CEO of Providence Gold Mines, stated that the La Dama De Oro mine continues to develop as an active gold story with numerous exploration targets. He highlighted the company's fully permitted 1,000-ton bulk sample and the current high gold prices, suggesting significant leverage for Providence Gold Mines due to its high-grade potential and permitted status for near-term bulk sample production.

The company's staged programs are designed to develop feed for the permitted 1,000-ton bulk sample to generate potential cash flow. Exploration efforts are also focused on developing potential gold zones within the historical high-grade producer. Providence Gold Mines is planning to trench and sample the discovery vein at surface. Assay success from this exploration may lead to blending the discovery material with the stockpiles. Additionally, geophysical surveying is planned to further assess the potential size of numerous targets, particularly a zone where known veins appear to coalesce in a valley before potential drilling.

Regarding a new discovery gold vein update, channel sampling at surface, directly above a well-mineralized area, previously reported 8 grams of gold per ton over a true width of 0.45m. This discovery is located at the westernmost face of the Mojave Girl vein, characterized by a significant sericitic alteration bloom. This alteration zone extends approximately 300 feet westward as a zone of softer, bleached, moderate iron oxide staining in the quartz monzonite. This zone of alteration and fracturing has resulted in a 300-foot area of negative topographic expression with coincident reddish-brown soil coloration.

Mr. Payne commented that similar intense barren sericitic alteration blooms have reliably indicated overlying high-grade gold-quartz in other orogenic style vein systems. Exploratory core holes targeting similar alteration blooms elsewhere in California have led to new high-grade gold discoveries. Based on historical precedent, there is a high confidence that drill testing the Western Mojave Girl vein exploration target could yield a new gold discovery. He added that barren sericitic alteration bloom features can be enhanced, especially where wall rocks are felsic to intermediate crystalline intrusive rocks. The Western Mojave Girl vein exploration target could be tested with 400-to-600-foot core holes collared from an existing road near the target.

Exploration continues to evaluate the under-explored system of both east-west and north-south trending gold-bearing quartz veins present at the La Dama De Oro property, a historic high-grade gold producer. With ongoing exploration success, the Company is negotiating with an experienced local mill owner operator for contract milling of the permitted 1,000-ton bulk sample.

Source: Providence Gold Mines Inc.