Providence Gold Reports Up to 8.0 g/t Au from Mojave Girl – Phase 2 Evaluation of Tarantula Gold Mine Set to Begin

VANCOUVER, May 21, 2026 – Providence Gold Mines Inc. (TSX-V: PHD} (“Providence” or the “Company”) is pleased to report that further to the Company’s news release of May 11,2026 that phase two sampling of stockpile material at the “Tarantula Gold Mine” is planned to begin. On May 11, 2026 the Company announced its gold assay results from its first phase of continuous surface stockpile sampling at the La Dama de Oro property, located near the city of Victorville, 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 stockpile has an estimated volume of 650 tons of material. Phase two will focus on the Tarantula Mine surface stockpiles workings with the objective to compliment Phase one results. The Tarantula Mine surface workings are located approximately 100 meters away from the Mojave Girl and appear to contain a good volume of potential material. Our registered California Geologist 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. Ron Coombes, President & CEO, stated, “With the recently announced success of the Phase one stockpile assay results. The Company is optimistic that similar assay results from the Phase two program will be achieved to further compliment the Company’s objective for its 1,000-ton (909-tonne) permitted bulk sample”.

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

Note: The stockpile material is not NI 43-101 compliant. Results are from surface sampling only. 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 will be being assessed.

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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  

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STOCK OPTIONS

In addition to the above, the Company is pleased to announce it has granted stock options to directors, officers, and consultants of the Company to purchase an aggregate of 6,650,000 common shares in the capital of the Company at an exercise price of $ 0.07 per share, which expire on May 22.2028, This stock option grant is subject to acceptance by the TSX Venture Exchange.  

 

For more information, please contact Ronald Coombes, President, and CEO of the Company.

"Ronald Coombes"

Ronald A. Coombes, President & CEO
Phone: (604) 724-2369
Email: rcoombesresources@gmail.com

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www.ProvidenceGold.com

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Neither the OTC-Pinks and or 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, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management 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.