Providence Gold Mines Closes Financing

About this update from Providence Gold Mines Inc

VANCOUVER – TheNewswire - February 17, 2026 - Providence Gold Mines Inc. (TSX-V: PHD) (OTC-PINKS:PRRVF) (“Providence” or the “Company”) announces that further to its news releases dated January 9, 2026 and February 4, 2026, the Company has closed the fully subscribed Private Placement in the amount of $180,000, issuing a total of 3,6000,000 Units. Each Unit consists of one common share at a price of $0.05 and one whole non-transferable warrant exercisable for two years from the date of issue at a price of $0.065. In connection with the closing, the Company paid $7,700 in Finders fees and issued 154,000 non-transferable finders warrants. Each finders warrant is exercisable for 1 year from the date of issue at a price of $0.065. In addition, the Company has issued 2,000,000 common shares to Mohave Gold Mining and Exploration Incorporated for the required first-year option payment for the La Dama de Oro Gold and Silver property. The proceeds from the Private Placement will be used for administration and continued sampling of the underground and surface workings to evaluate the potential of the available mineralization in advance of the planned 1000-ton bulk sample at the La Dama De Oro gold and silver property. Once sampling confirms the robust potential mineralized zone the Company then plans to commence the permitted 1000-ton bulk sample. 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, Mill Site, and is approved for a bulk sample The Property has had no drilling or any modern-day scientific exploration and consequently has no developed or identified NI 43 101 compliant resources. The La Dama de Oro Property is in the Silver Mountain Mining District, within the structurally complex Eastern California Shear Zone and the intersection with the San Andreas Fault Zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The structural geology of the region implies a sequence of compressional and extensional events that reactivated favorably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault. The mineralization at the property is classified as a structurally controlled...

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