Providence Gold Mines Inc: Increases Private Placement
July 10, 2020 - Providence Gold Mines Inc. (the "Company") (TSXV:PHD) (OTC:PRRVF) is pleased to announce further to the news release of June 29th wherein the Company had closed a first tranche of the private placement has applied for an extension to accommodate investors who were unable to complete their subscriptions because of delays caused by COVID-19. Due to significant interest the Company has increased the NBPP from $500, 000 to $800,000 CDN. Program Update:
The Company is currently seeking bids, (locally near the town of Sonora California), to grid auger drill the stockpile of historically milled material to further determine the volume of milled material which reportedly produced 225,000 ounces of gold until shut down due to a dispute in 1916.
The protocol is to assay at 2 meter intervals and once results are substantiated then to bulk sample the material to determine the best recovery methods.
Qualified Person:
Brian Ray M.Sc., P.Geo. Head of Exploration and a qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO
Mobile: 1- 604- 724-2369
rcoombesresources@gmail.com
Neither 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.