Providence Gold Mines Inc. Announces Final Approval of Reviewable Transaction and The La Dama de Oro Gold Property NI43 101 Report

Core Viewpoint - Providence Gold Mines Inc. has received final regulatory approval for its Reviewable Transaction involving the La Dama de Oro project, confirming the potential for further exploration and development of the property [1]. Group 1: Property Overview - The La Dama de Oro gold property is a historical high-grade gold producer with all necessary permits in place, including those for water, road, environmental, and mill site operations, and is approved for a 1,000-ton bulk sample [2]. - The property has not undergone any modern scientific exploration or drilling, resulting in no developed or identified NI 43-101 compliant resources [2]. Group 2: Geological and Mineralization Insights - The La Dama de Oro Property is situated in the Silver Mountain Mining District, characterized by complex geological structures, including the Eastern California Shear Zone and the San Andreas Fault Zone [3]. - The mineralization is classified as a low-sulfidation epithermal gold-silver vein system, with significant gold and silver mineralization associated with quartz veining and hydrothermal alteration along the La Dama de Oro Fault [4]. - The largest known vein measures 4.5 feet at its widest point and remains open for exploration over a length of more than 6,000 feet, indicating potential for discovering additional parallel veins [4]. Group 3: Management Commentary - The President & CEO of the company, Ronald A. Coombes, emphasized that having all permits in place eliminates uncertainty and allows the company to capitalize on the robust potential of the La Dama de Oro property [5].