La Dama de Oro Gold Phase Two Exploration Update

La Dama de Oro Gold Phase Two Exploration Update

(TheNewswire)

                                                     

VANCOUVER – TheNewswire - June 29, 2026, Providence Gold Mines Inc. (“Providence” or the “Company”) (TSX-V:PHD; OTC-PINKS:PRRVF; FRANKFURT EXCHANGE:7RH1-F)  further to the May 11, 2026, news release the Company is pleased to announce completion of its second phase of exploration stockpile target sampling at its La Dama de Oro gold and silver property, located near the City of Victorville, California.

 

The sampling was overseen and delivered to the American Assay Lab by the Company’s California registered geologist, Mark Payne P.Geo. #7067 under the guidance of the Company’s Independent Qualified Person Dr Lee Groat who has reviewed, verified, and approved the technical information contained in this news release as required under NI 43 101.

 

The first phase of the Company’s exploration target stockpile trench sampling successfully resulted in locating an estimated volume of 600 to 650 tons. The volume was quantified by using the known slope, the width, the length, and the depth of the stockpile material. Continuous trench sampling results returned assays from 0.032 ounce per ton (1.1 grams per tonne} to 0.233 ounce per ton (8.0 grams per tonne)

 

The second phase of exploration targeting was designed to increase the volume of stockpile material for the 1,000 ton (909 tonne) permitted bulk sample.

  

NOTE OF CAUTION

 

The potential quantity and grade are conceptual in nature; there is insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

 

New Underground Vein Discovery

 

Additionally, Mark Payne P.Geo. discovered a 1.5-foot wide (0.22 m) lode zone in the La Dama De Oro mine workings at the 4180-ft level (1274 m L). The new exploration target was channel sampled at the westernmost underground exposure of the historically productive Mojave Girl vein structure. The channel sample was delivered to American Assay Labs, and results are pending.

   

Work underway:

 

The Company continues to evaluate an under-explored system of both E-W and N-S trending gold-bearing quartz veins evident at the La Dama De Oro property. Historic high-grade gold production was derived from three separate E-W striking lodes, the Mojave Girl, Tarantula, and Mojave Boy veins. The Tarantula, Mojave Boy, and strike extensions of the Mojave Girl lode have not yet been evaluated by the Providence team. Geophysics and trenching of this area are being considered; as the N-S, trending lodes were not systematically prospected or developed in the past. They are strongly mineralized and remain excellent exploration targets, particularly at locations where they (project to) intersect or join the productive E-W striking lodes. In addition to the above features; a zone of sheeted vein stockworks with visible mineralization was discovered on the adjoining mountain side. Further work is being planned to determine the significance of that occurrence.

 

All the samples from phase two have been delivered to American Assay Labs of Sparks, Nevada for either 1000 gram screened metallic fire assay or 30-gram conventional fire assay analyses.

 

The Property:

 

The La Dama de Oro gold property is a historical high-grade gold producer and has permits for water, road, environmental, plan of operations, and mill site, and is approved for a bulk sample. The Property has not yet been drilled and is currently undergoing modern-day scientific target exploration which provides an excellent untapped opportunity to identify NI 43 101 compliant resources.

 

The largest mined vein (Mojave Girl) is 5 feet at its widest point and remains open both down dip and for over 6,000 feet along strike. The gold system has potential, not just within the La Dama de Oro and Tarantula and other known veins, but as well for additional discoveries.

 

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

 

Ronald A. Coombes, President & CEO

Phone: 604 724 2369

Email rcoombesresources@gmail.com

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

 

Neither the OTCQB 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 statement

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