Providence Gold Mines Inc. Announces Financing Update on the La Dama de Oro Gold Property

Core Viewpoint - Providence Gold Mines Inc. is initiating a non-brokered Unit Private Placement Financing of up to $250,000 through the issuance of 5,000,000 units, each consisting of one Common Share and one full Warrant, priced at $0.05 per Unit, subject to regulatory approval [1][2]. Financing Details - The Private Placement will involve a four-month plus one-day hold period for all securities issued, in accordance with applicable securities laws [2]. - The Company plans to utilize the net proceeds for regulatory fees, sampling, evaluation of underground mineralization at the La Dama De Oro property, and administrative expenses [3]. Property and Mineralization - The La Dama de Oro Property is located in the Silver Mountain Mining District, characterized by complex geology and significant structural features, including the La Dama de Oro Fault [5]. - The mineralization is classified as a low-sulfidation epithermal gold-silver vein system, with the largest known vein measuring 4.5 feet at its widest point and extending over 6,000 feet, indicating robust exploration potential [6]. Permits and Future Opportunities - All necessary permits for bulk sampling, water access, road access, and environmental plans have been approved, providing a foundation for potential future production at the La Dama de Oro mine [4][7]. - The Company is responding to regulatory requests for additional information regarding its NI 43-101 submission, which has been classified as a Fundamental Transaction [3].