Grant of Options

Providence Resources P.l.c. ("Providence" or the "Company")
                          Grant of Options

The Board announces that, on 9 May 2006, options over ordinary shares
of ¤0.001 each in the capital of the Company ("Ordinary Shares") have
been awarded to the following Directors and Company Secretary:


                 Number of                        Total number of
               options over   Exercise         Ordinary Shares over
              Ordinary Shares  Price   Expiry which options are held
  Director        awarded               Date
Tony O'Reilly      10,000,000  E0.0675  8 May              35,000,000
jnr                                      2014
Lex Gamble          1,000,000  E0.0675  8 May               4,500,000
                                         2014
Philip Nolan        1,000,000  E0.0675  8 May               4,500,000
Brian Hillery       1,000,000  E0.0675   2014              19,759,883
James               1,000,000  E0.0675  8 May               6,000,000
McCarthy            1,000,000  E0.0675   2014               6,067,350
Peter Kidney        2,000,000  E0.0675  8 May               7,134,700
Stephen                                  2014
Carroll                                 8 May
                                         2014
                                        8 May
                                         2014
Company
Secretary
Michael             2,000,000  E0.0675  8 May               7,026,940
Graham                                   2014

These options have been awarded in accordance within the terms of the
2005 Share Option scheme and the  exercise price has been fixed at  a
10% discount to the closing  price on the day  prior to the grant  of
the option.
The total options held by each director, as detailed above,  includes
options held under both the 2005 and the 1997 Share Option Scheme.
.




For further information please contact;

+-------------------+
| Michael Graham    |
|-------------------|
| Company Secretary |
|-------------------|
| [phone]    |
+-------------------+

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