Providence Gold Mines Arranges Private Placement

Vancouver, British ColumbiaProvidence Gold Mines Inc. (the “Company” or “Providence Gold”) announces that, further to the press release dated February 27, 2018, the TSX Venture Exchange (“TSX-V”) has extended the deadline for filing final documentation for the private placement (the “Private Placement”) to May 13, 2018.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                    
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eadie:    (604) 602-4935
Or Ronald Coombes:    (604) 724-2369
rcoombes@providencegold.com

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.

Providence Gold Receives Grant from the Natural Sciences and Engineering Research Council of Canada

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce it has received an Engage Grant from the Natural Sciences and Engineering Research Council of Canada in partnership with the University of British Columbia.

Members of the Mineralogical Research Group at the University of British Columbia, headed by Professor Lee A. Groat, stated, “We are excited to begin studying the Providence Gold Mines to aid in exploration and ultimately exploitation of the resource.”

The study will include the mineralogy, geology, geochemistry, geometallurgical factors, geochronology, etc. and will result in a much improved understanding of the deposit and of the Mother Lode Gold Belt in general. The Company and the University applied for and has now received an Engage Grant from the Natural Sciences and Engineering Research Council (NSERC) of Canada. Work will start immediately, and in particular will study the composition, morphology, and associations of the gold mineralization.

In addition, the Company is now receiving drill contractor proposals in preparation for the planned drill program for its Providence Group of Gold Mines property located within easy driving distance from the City of Sonora, California.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                    
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eadie:    (604) 602-4935
Or Ronald Coombes:    (604) 724-2369
rcoombes@providencegold.com

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.

Providence Gold Mines Arranges Private Placement

Vancouver, British ColumbiaProvidence Gold Mines Inc. (the “Company” or “Providence Gold”) is pleased to announce that it has arranged a non-brokered private placement of up to $1,200,000 (the “Financing”) through the issuance of up to 8,000,000 units (the “Units”) at a price of $0.15 per Unit.  Each Unit will be comprised of one common share and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one common share of Providence Gold at a price of $0.25 per share for a period of 2 years. 

The Company may pay finders’ fees equal to 7% in cash and 10% in warrants for subscriptions as may be attributable to such finders.  Finders’ warrants issued to registered dealers or exempt market dealers will be valid for a period of two years, with each warrant exercisable into one common share of the Company at a price of $0.25 per share.

The net proceeds of the private placement will be budgeted as follows:

  • $ 1,000,000 for exploration and drilling of up to 3050 meters of HG core drilling as recommended in the recently-filed NI 43-101 report dated February 12, 2018 on the Providence Gold Mines property located near Sonora, California (see news release dated February 12, 2018).  The program is designed to test zones near surface and to depth and along strike to delineate new high grade shoots within the historical past producing Providence group of gold mines which were shut down during profitable mining in 1916; and
  • The balance for working capital and general corporate purposes. 

There is no material fact or material change about the Company that has not been generally disclosed.

The Financing is subject to Exchange acceptance.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                    
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eadie:    (604) 602-4935
Or Ronald Coombes:    (604) 724-2369
rcoombes@providencegold.com

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.

Providence Gold Files Updated NI 43-101 Exploration Technical Report

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce it has completed and filed on SEDAR an updated NI 43-101 Technical Report for its high-grade gold Motherlode Providence Gold Mines property located near Sonora, California. The following summarizes the report findings. The complete report can be viewed on the SEDAR site or by clicking here.

Summary

Ron Coombes, President & CEO states “The Company’s 2017 exploration program has verified that the Providence Gold property hosts significant high-grade shoots of orogenic gold mineralization and we are excited about the planned upcoming core drill program.”

In 2017, a program consisting of soil sampling, surface and underground mapping and rock chip sampling was undertaken with the purpose of defining the vein systems and locating areas of gold mineralization. The underground work was confined to the Sixth Level. The Sixth Level extends as a drift from the Providence Mine through the Consuelo Zone ultimately accessing the surface.

Although there are several historical former producing gold mines on the property, the available data is limited and as such the Providence Gold Property is classified as an early stage exploration prospect. Reports state that there are areas in the Bonita-Consuelo and Providence Mines hosting potential resources. The only way to determine whether there are any resources will be through drilling.

In the Company’s opinion, the Providence Gold Property hosts several vein systems that in the past were producing high-grade gold mines. The 2017 exploration data shows that the vein systems host shoots of high-grade material that, according to the historical records are open at depth. The work completed in 2017 outlined several areas of interest that can only be tested through drilling. In addition, the soil sample survey outlined areas of interest requiring additional mapping and sampling prior to drilling.

Qualified Person

Dave Visagie, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release. Mr. Visagie is a senior geologist consulting to the Company

ON BEHALF OF THE BOARD

“Ronald Coombes”                                      
Ronald Coombes, President & CEO

 

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936 Contact: Robert Eadie
or
Ronald Coombes
Mobile: 1- 604- 724-2369
rcoombes@providencegold.com

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 accur

Providence Mines Announces Investor Awareness Campaign to Begin on BNN with BTV

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce the launch of an awareness campaign to begin on BNN through BTV Business Television.  BTV and CEO Clipsprofiles innovative publicly traded companies in North America and will feature a 15 to 30 second spot on Providence Gold Mines INC. to broadcast on BNN from February 6 to March 18, 2018.   

Providence Gold Mines INC. is focused on California’s “Mother Lode” District.  The Company believes by using modern exploration and extraction methods, the historical past-producing high-grade Providence Gold Mines has development potential to once again become a significant gold producer.

About BNN and BTV:
BNN – Business News Network is Canada’s only television service devoted exclusively to business and finance news with wall-to-wall coverage of the markets providing Canadian investors with the latest business news, newsmaker interviews and stock market analyses. BTV-Business Television and CEO Clips produce and house the largest library of company video features and campaigns for publicly traded companies for broadcast on TV and financial sites.  Contact info@b-tv.com

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release. Mr. Kowalchuk is a senior geologist consulting to the Company.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                 
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eadie:    (604) 602-4935
Or Ronald Coombes:    (604) 724-2369
rcoombes@providencegold.com

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.

Phase I Exploration Discovers Potential Mineralized Shoots at Providence Gold Mine Property

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce that a soil sampling program completed at its Providence Gold Property has outlined several gold in soil anomalies. The anomalies occur along a 1300 metre strike length between the Bonita workings located at the north end of the property and the past producing Providence Gold Mine located to the south. The Company believes these surface anomalies potentially represent existing and new gold bearing shoots. Within the trend, soil samples returned values of up to 7.33 g/t Au that are coincident with the trace of the vein as determined by recently completed surface and underground mapping.  The current surface soil sampling highlights are summarized in the following table:

BREAKDOWN OF SOIL SAMPLE RESULTS TO DATE-PROVIDENCE PROPERTY

Description

# of Samples

Total # Soil Samples Collected

451

Assays Received To Date

451

 

 

Results Breakdown by Grouping

 

15-24 ppb Au

39

25-49 ppb Au

18

50-99 ppb Au

9

100-999 ppb Au

14

>1000 ppb or 1gm/t  Au

4

Total # Samples considered anomalous

84

 

 

Maximum Values are as follows:

 

7334 ppb Au McCarthy Shaft Area

 

2456 ppb Au McCarthy Shaft Area

 

1852 ppb Au Providence Shaft Area

 

1776 ppb Au Goldwin

 

John Kowalchuk P.Geo., states, “we are very encouraged with these significant gold in soil anomalies as they are located along strike between  known mineralized shoots and can be easily accessed by diamond drilling .“

The Company is now sourcing drill contractors for its planned drill program. The Providence Gold Mines properties are near the town of Tuolumne, California.  Access is by a combination of paved and gravel roads. The two main areas known as the Providence and Consuelo, are on the company’s patented lands. According to a 1931 newspaper clipping, production from the Providence Mine between 1901-1912 yielded ore averaging $18 per ton (gold at $20/ounce) to a total of $3,000,000.  Caution to reader: these historical results have not been verified by the Company and therefore cannot be relied upon. The Company believes that past production removed only a portion of the deposit which is recorded as having ceased during profitable mining operations in 1916.

The Providence vein system comprises a series of parallel steeply-dipping gold-bearing quartz veins emplaced in deformed and metamorphosed layered rocks of the Palaeozoic Calaveras Complex. The veins contain several steeply-plunging chutes of higher grade mineralization, at least three of which were the target of underground mining activity that still remain viable targets for renewed exploration.

This news release has been reviewed and approved by John Kowalchuk BSc., P.Geo ., who is the Company’s Qualified Person for the Providence Gold Mine property project, as required under NI 43-101 standards.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                     
Ronald Coombes, President  & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Ronald Coombes
Mobile: 1- 604- 724-2369
rcoombes@providencegold.com

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.

Providence Gold Mines Discovers Evidence Of Extensions Of Parallel Gold Zones

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV:PHD) (“Providence” or the “Company”) announces that the Company’s efforts continue to yield success in locating both historical and new gold zones.

During our continued phase one exploration program our geologists have discovered physical evidence of extensions of parallel gold zones. One adit we believe is known as the Goldwin zone, as reported by F. Leland, Mining Engineer, in a report dated April 15, 1935. Recently reported modeling from the Company’s available data identified a soil anomaly which was assumed to represent the Goldwin parallel vein.  This has now been verified with the physical discovery of the location of the Goldwin zone. Additionally, two other shafts were discovered along the Providence trend. These workings are believed to be part of south extensions of the Providence. As previously reported, nearly all historical mine plans and sections for the Providence Mine were consumed in a forest fire that destroyed the mill complex in 1918.

The Company has now completed both hard rock and soil sampling along the known gold trend.  Assay results are now pending.

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release. Mr. Kowalchuk is a senior geologist consulting to the Company.

The Company will be displaying rock samples at the San Francisco Gold and Silver Summit at the Hilton Hotel on November 20 and 21st.

ON BEHALF OF THE BOARD

“Ronald Coombes”                                                               
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Robert Eadie
or
Ronald Coombes
Mobile: 1- 604-724-2369
rcoombes@providencegold.com

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.

Providence Gold to Exhibit 3-D Laser Scan at Silver & Gold Summit

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) announces that the recently concluded 3D underground laser imaging and the underground 3D modeling from surface to depth will be presented live at the upcoming Silver and Gold Summit (the “Summit”) to be held on November 20th and 21st, 2017 in San Francisco. Hosted by the Hilton at Union Square, the Summit will gather the industry’s top leaders and CEOs, as well as investment professionals and retail investors from around the world.

“We are excited about how this technology has not only confirmed historical results at the Providence Mine, but also distinctly identified extensions to the Providence Vein system,” said Ron Coombes, President & CEO of the Company. “We will be at Booth #502 at the Summit and are looking forward to demonstrating the results of this exciting technology to the Summit visitors in San Francisco next week.”

The 3-D laser scan survey can also be reviewed online at the Company’s website at www.providencegold.com.

ON BEHALF OF THE BOARD

“Ronald Coombes”
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Robert Eadie
or
Ronald Coombes
Mobile: 1- 604-724-2369
rcoombes@providencegold.com

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.

New Technology Identifies Extensions to One of Providence Gold Veins

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce results from an underground 3-D Laser Scan Survey.

As reported on September 25, 2017 the Company commissioned Aero Geometrics of Vancouver, British Columbia to complete a 3-D Laser Scan Survey of the six hundred level of the historical Providence Mine.

Prior to the survey, the Company completed both geological mapping and channel sampling of the 600 level workings. Amongst other details, the survey delineated fine characteristics of the Providence quartz vein system within the drifts, crosscuts and stopes.

Examination of the survey results revealed where the vein diverges from the main 600 level access drift and re-enters on the 600 level at the Consuelo drift 263 metres along strike to the north.

The Company previously recognized the diversion; however, it was poorly understood until now. With the assistance of this new technology, the extension to the Providence Vein can be clearly identified. Geological mapping suggests that the Providence Consuelo, Bonita, Mexican and McCarthy veins are all part of the same vein system which we now refer to as the “Providence Vein” system which has a strike length of 2.2 km.

Tim Daly of Aero Geometrics of Vancouver, British Columbia states,

“Aero Geometrics Ltd. would like to thank Ron Coombes and Providence Gold Mines for the opportunity to work together on the project at the Providence Mine. To benefit from the knowledge discovered by the 3D terrestrial laser scanning technology shows wisdom on your proactive state of the art approach.

This technology allows the visualization of highly accurate 3D data to the tune of 300 billion points and is definitely going to bring new life to the historical work done to date.

This roadmap of data can be described as the MRI of the earth, a beautiful picture that tells the whole story and eliminates the guess work.

Companies that have existing underground operations who do not have this type of scanned data are behind the times.”

The Company believes that the historical operators, in attempting to follow the vein, lost contact with the mineralization. The Company believes that the vein lies west of the 600 level access drift, a distance varying between less than 10 to 65 metres in the area in question.

This zone represents one of numerous primary drill targets along the known 2.2 kilometre strike length of the vein. In addition, results of the Company’s recently completed soil geochemical survey, suggest that a zone of elevated gold grades represent a portion of the previously unseen vein system that projects to surface along strike.

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release. Mr. Kowalchuk is a senior geologist consulting to the Company. Mr. Kowalchuk is not independent as he is a director of the Company.

ON BEHALF OF THE BOARD

“Ronald Coombes”
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Robert Eadie
or
Ronald Coombes
Mobile: 1- 604-724-2369
rcoombes@providencegold.com

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.

Phase I Exploration Continues to Expand Mineralized Zones with 1.8 metres of 16.33 g/t

VANCOUVER, BRITISH COLUMBIA – Providence Gold Mines Inc. (TSXV: PHD) (“Providence” or the “Company”) is pleased to announce results from underground sampling of the Company’s Providence Gold Mine in central California. The results demonstrate continued success on its Phase I exploration program with the presence of high grade gold mineralization adjacent to former stoped (mined) areas of the mine.

Results from the sampling of the various workings in the South Mineralized Shoot on the 600 foot level property are as follows:

PRELIMINARY ROCK CHIP SAMPLE RESULTS (>3GPT Au): SUMMARY 600 LEVEL SOUTH SHOOT
Sample #LocationWidth (Metres) Au (GPT)
2980165Small drift approx. 7m behind 600 drift 569.5 sample of face of vein in stope0.7031.70
298063Small drift approx. 7 m behind 600 drift, 569.5, sample of face of vein in stope1.106.54
 from 2980165 to 2980631.8016.33
2980141633 back1.04.16
280161Small drift approx. 7 m behind 600 drift, 569.5, sample of face of vein in stope2.804.41
2980175552, West Rib0.809.74
2980178551, West Rib1.204.60
2980182549, East Rib0.607.05
2980189/90533, 600 drift, West Rib1.203.16
2809193533, 600 drift, West Rib0.403.22
    
Note: of the 52 samples collected to the south of the North Shoot, 25 assayed >1 gpt Au of which 10 assayed >3 gpt Au with two assaying >10 gpt Au

The above sample results verify the historical results for the Providence Mine South Shoot. The South Shoot is located approximately 70 metres to the south of the North Shoot. The following table summarizes the results of the chip sampling program and reported in the news release dated September 21, 2017.

PROVIDENCE GOLD MINES LTD: PROVIDENCE GOLD MINE-ROCK CHIP SAMPLES RESULTS (>3GPT Au) SUMMARY: 600 LEVEL-NORTH SHOOT
Sample #LocationWidth (Metres)Au (GPT)
2980069Stope back1.08.60
29800743980.94.15
2980076398, West Rib1.03.31
 Or2.23.28
2980077372 Back, W Rib1.019.58
2980103426 Slab From Small Stope0.314.55
2980108435, W Rib1.345.64
2980116447, East Rib and Back1.14.82

Previous work has shown the Providence property to contain gold bearing vein system with several workings being located. As a result of the ongoing exploration success, the Company has dispatched its exploration team to the property to complete further soil geochemical sampling, outcrop mapping and sampling. The program commenced this week. The purpose of the program will be to verify the potential strike length within the property’s 2.2 km long property boundary.

We are excited that our results have validated the historically reported production and confirm the potential of significant gold mineralization, along the 2.2 km strike and down-dip,” said Ron Coombes, President & CEO of the Company.

QA&QC Procedures

The Company followed industry standards in its QA&QC procedures. A certified standard sample, or a blank or a field duplicate sample is inserted every 10 samples before the set of samples is sent to the Laboratory. This procedure is applied to all rock chip and channel samples. The Company sent all of the samples to Bureau Veritas Laboratory in Reno, a laboratory that meets International Standards ISO 9001 and ISO 14001 Certification.

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release. Mr. Kowalchuk is a senior geologist consulting to the Company.

The Company is pleased to announce that its website is live as of November 1st, 2017. Visit www.providencegold.com.

ON BEHALF OF THE BOARD

“Ronald Coombes”
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Robert Eadie
or
Ronald Coombes
Mobile: 1-604-724-2369
rcoombes@providencegold.com

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.