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, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Eadie: (604) 602-4935
Or Ronald Coombes: (604) 724-2369
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Transaction; the terms and conditions of the proposed Financing; future work to be carried on the Property; use of funds; and the business and operations of Red Hut after the proposed transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There is no assurance any of the forward-looking statements will be completed as described herein, or at all. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; operating and technical difficulties in connection with mineral exploration and development activities, lack of investor interest in the Financing; requirements for additional capital; future prices of gold and precious metals; changes in general economic conditions; accidents, delays or the failure to receive board, shareholder or regulatory approvals, including the required permits; results of current exploration and testing; changes in laws, regulations and policies affecting mining operations; and title disputes. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Red Hut disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.