PV

Providence Resources Corp. (TSX VENTURE:PV) ("Providence" or the "Company") and
Eagle Plains Resources Ltd.(TSX VENTURE:EPL) are pleased to announce receipt of
results from the 2011 soil sampling program on the Iron Range Project. Results
from the extensive program (4,233 samples) validate historical soil anomalies
and identify additional prospective areas (Fig. 1). Historical anomalies in the
Row and Canyon target areas have been confirmed - these targets have been
selected for drill testing in 2012. The remainder of the anomalies identified in
the 2011 survey will be ranked and field evaluated as part of the 2012 Iron
Range exploration program.


"The 2012 soil sampling program has exceeded our expectations - it has validated
the 5 kilometer-long Row soil anomaly and demonstrates that the Iron Range is
prospective for both Sullivan style lead-zinc-silver as well as gold
mineralization," stated Providence Resources Corp.'s President and CEO Vince
Sorace. "The combined results from the new and historical sampling campaigns are
highly encouraging; our technical team will correlate these anomalies with those
obtained from the 2011 geophysical survey as soon as data is available." 


The 2011 soil sampling results build upon historical geochemical surveys by
confirming, infilling and/or expanding historical anomalies (See PR-2012-01)
(Fig. 1). The highlights of the program are listed below:




--  Confirmation soil sampling on the Row Target has validated the
    historical dataset by producing a coincident lead-zinc-arsenic anomaly
    similar in scale and intensity to the historical dataset (Fig. 1). This
    target will be drill tested in 2012.

--  Infill soil sampling in the Canyon target area produced a robust arsenic
    anomaly measuring 1 km by 0.7 km with coincident gold, lead and zinc
    anomalies. Gold mineralization discovered along the southern margin of
    this anomaly in 2010 (Talon Zone - see NR-10-09) confirms the presence
    of gold mineralization at this target area (Fig. 1). The remainder of
    the Canyon Anomaly will be drill tested in 2012.

--  Three new soil grids (Arrow East, Canyon East and Gap grids) have
    produced additional gold, arsenic, lead and zinc soil anomalies, which
    will be the followed up during a systematic surface exploration program
    in Q2 2012 (Fig. 1).



To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/p130b.pdf


2012 Exploration Program

The Company intends to execute a full exploration program in Q2 2012 with the
objective of systematically evaluating all existing exploration data, utilizing
newly acquired geophysical data, field evaluating all resulting anomalies and
ultimately drill testing the highest priority targets. 




--  Geophysical electromagnetic and gravity surveys - it is anticipated that
    results from this work will be available in February 2012. 
--  Winter drilling (Phase I) of high-priority geophysical and geochemical
    anomalies. Two targets have been identified during the evaluation of
    historical geochemistry and additional targets are anticipated. 
--  Field work will be completed in summer 2012 with the objective of
    bringing remaining targets to the drill testing stage for Phase II
    drilling in late 2012.



Qualified Person

The soil sampling program at the iron Range Project was designed and implemented
by TerraLogic Exploration of Cranbrook, B.C. (a wholly-owned subsidiary of Eagle
Plains). All fieldwork is under the supervision of geologist J.K. Ryley while
C.C. Downie, P.Geo. is hereby identified as the overall project supervisor.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101. 


Field personnel for the project took 4,322 B-horizon soil samples from
hand-excavated pits, with samples taken at depths between 20cm and 60cm. Samples
were securely labeled and packed before shipping to ALS laboratories. ALS'
quality system complies with ISO 9001:2008. Analytical accuracy and precision
are monitored by the analysis of reagent blanks, reference material and
replicate samples.


Iron Range Project Summary 

The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
Resources ("Eagle Plains") staked the current claims immediately after the Crown
grants reverted in 2000, and it has been exploring the property since then.
Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690-line-kilometre airborne geophysical survey. 


The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. An additional 35,800 hectares of claims were added to
the original land package, resulting in a total of 56,200 hectares -- an area
approximately 11 km by 50 km. The land package now covers over 30 km of the Iron
Range structure, most of it unexplored. The claims also overlie rocks of the
Aldridge formation, including the same stratigraphic time horizon that hosts the
world-class Sullivan deposit located 70 km to the northeast. Over its 100-year
lifetime, Sullivan produced approximately 150 million tonnes of ore including
three billion ounces of silver, eight million tonnes of zinc and eight million
tonnes of lead, collectively worth over $30-billion at current metal prices. The
parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Iron Range
property. 


Providence Option Agreement

The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years. 


Vince Sorace, President, Providence Resources

For further information regarding Providence, please email
info@providenceresources.ca or visit our website at www.providenceresources.ca.


Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.

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