Providence Gold Mines Finalizes $180,000 Private Placement
Vancouver, British Columbia — February 17, 2026 — Leads & Copy — Providence Gold Mines Inc. (TSX-V: PHD) (OTC-PINKS:PRRVF) has finalized its fully subscribed private placement, raising $180,000 through the issuance of 3,600,000 units.
According to a news release, each unit comprises one common share priced at $0.05 and one whole non-transferable warrant. The warrant is exercisable for two years from the date of issue at a price of $0.065.
The company also reports it paid $7,700 in finders’ fees and issued 154,000 non-transferable finders’ warrants in connection with the closing. Each finders’ warrant can be exercised for one year from the issue date at $0.065.
Additionally, Providence Gold Mines issued 2,000,000 common shares to Mohave Gold Mining and Exploration Incorporated. This issuance covers the required first-year option payment for the La Dama de Oro Gold and Silver property.
The company intends to allocate the proceeds from the private placement towards administration and the continued sampling of both underground and surface operations. The goal of this is to assess the potential of available mineralization before commencing a planned 1000-ton bulk sample at the La Dama De Oro gold and silver property. The company intends to start the sample once the sampling confirms the zone’s robust potential.
The La Dama de Oro gold property, a historical high-grade gold producer, holds permits for water, road access, environmental operations, a plan of operations, and a mill site. It is also approved for bulk sampling.
The property is located in the Silver Mountain Mining District, situated within the Eastern California Shear Zone and its intersection with the San Andreas Fault Zone. The bedrock geology consists of Mesozoic quartz monzonite intruding the Jurassic Sidewinder Volcanics. The region’s structural geology suggests a sequence of compressional and extensional events that reactivated zones of weakness, facilitating the circulation of hydrothermal fluids.
Mineralization at the property is classified as a structurally controlled, low-sulfidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multi-phase quartz veining, brecciation, and pervasive hydrothermal alteration along the La Dama de Oro Fault. The largest known vein measures 4.5 feet at its widest point and remains open to exploration for over 6,000 feet. Beyond the La Dama de Oro vein and other known veins, the gold system holds potential for additional discoveries.
Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101, has reviewed and approved the scientific and technical information in the news release. Mr. Black is a consultant independent of Providence Gold Mines Inc.
Source: Providence Gold Mines Inc.
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