Dr. David Palmer reports

PROBE GOLD TO ACQUIRE THE STELLA PROPERTY IN VAL-D'OR, QUEBEC

Probe Gold Inc. has entered into a definitive purchase agreement with Leopard Lake Gold Corp. to acquire a 100-per-cent interest in the Stella property. The property is strategically located to the east of the company's Novador development project, between Probe's Croinor and Megiscane properties, lying approximately nine kilometres northeast of the former Croinor mine. It spans 52 contiguous claims covering a total of 2,987 hectares and is situated within a northwest-southeast-oriented volcano-sedimentary corridor. This corridor extends from Timmins in the west to the Grenville front in the east and includes the Manneville fault and associated splay systems, which are interpreted as extensions of the prolific Destor-Porcupine gold break. The company's McKenzie Break property, which hosts 1.45 million ounces of gold resource, is located along the same fault system, approximately 55 kilometres to the northwest.

Highlights:

• Strategic acquisition: The Stella property hosts the high-grade Lacoma gold zone discovered in 1925 and is strategically located between the company's Croinor (323,600 ounces in measured and indicated and 34,300 ounces in inferred category) and Megiscane properties. The company is continuing its strategy of consolidating highly prospective exploration land in this vastly underexplored belt.
• Prime location: The Lacoma gold zone lies along the Manneville fault, which also hosts the company's McKenzie break gold resource (1.45 million ounces in inferred category), approximately 55 kilometres to the northwest.
• Exploration upside: The Lacoma gold zone is hosted in a diorite intrusive that has seen very little follow-up exploration. The Stella property has strong potential to host additional high-grade gold mineralization and has significant upside for new discoveries.
• The acquisition is low cost for 30 square kilometres of underexplored land along a prolific gold structure.

Dr. David Palmer, president and chief executive officer of Probe, stated: "This tuck-in acquisition is a highly strategic addition to our portfolio. It aligns perfectly with our goal of consolidating the underexplored Val d'Or East region and significantly enhances the high-grade exploration potential of our Novador development project. The acquisition also brings strong operational synergies with our Croinor and Megiscane properties, where recent geophysical and soil surveys have identified promising exploration targets that appear to extend onto the Stella property. Our exploration success in the Val d'Or East area has been exceptional -- growing our gold resources more than 14-fold to surpass the 10-million-ounce mark while uncovering new discoveries in this largely untapped part of the Val d'Or Camp. For a relatively low cost, this acquisition strengthens our position in Val d'Or and opens up new opportunities for high-grade gold discoveries."

The acquisition will strengthen Probe's land position in the Val d'Or region by adding to its holdings immediately east of the flagship Novador project. Following the acquisition and the recent map staking at Val d'Or East, Probe's total land package in Val d'Or will expand to 832 square kilometres, further consolidating its position as a leading explorer in the area. The transaction is expected to close in the coming weeks, subject to the receipt of all necessary regulatory and Toronto Stock Exchange approvals, along with the fulfilment of other customary closing conditions.

Transaction details

Pursuant to the agreement, Probe will acquire a 100-per-cent interest in the property, subject to a 3-per-cent net smelter return royalty, for consideration of 149,066 common shares of the company, equal to $250,000 based on the 15-day volume-weighted average price per share on the TSX ended the last trading day immediately prior to the date hereof. The closing of the transaction is subject to receipt of approval of the TSX and the satisfaction or waiver of other customary closing conditions. The shares will be subject to a hold period of four months and one day from the date of issuance under applicable Canadian securities laws.

About the Stella property

The history of the Stella property dates back to approximately 1925, with the discovery of a gold showing. By 1931, Lacoma Gold Mines Ltd. was established to explore the area south of Senneterre. Between 1931 and 1938, the company conducted surface drilling, sank a 79-metre shaft and developed two underground levels to investigate four mineralized veins, with notable results of up to 39 grams per tonne gold over 1.1 metres. However, exploration activities ceased in 1939.

From 1939 to 1983, minimal exploration occurred, with limited drilling. Renewed efforts in 1983 to 1984 included magnetic, gradient and geological surveys, alongside 17 drill holes primarily targeting the quartz diorite hosting the Lacoma gold zones. Further exploration in 1987 to 1988 included EMH and magnetic surveys, followed by five diamond drill holes.

More recently, in 2011, 23 drill holes were completed near the historical Lacoma shaft. Notably, hole STE-10 intersected 1.6 grams per tonne gold over 14.8 metres in a quartz-veined and pyrite-rich diorite stockwork. The property is predominantly underlain by intermediate volcanic rocks and finely laminated tuffs, with the mineralized zones concentrated near a central diabase dike and dioritic intrusion close to the Lacoma shaft. Exploration outside the Lacoma area remains limited.

Qualified person

The scientific and technical content of this press release has been prepared, reviewed and approved by Marc Ducharme, PGeo, vice-president, exploration, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Probe's Novador project

Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val d'Or East area in the province of Quebec with a district-scale land package of 832 square kilometres, which represents one of the largest landholdings in the Val d'Or mining camp. The Novador project represents one property block of 202 square kilometres, which hosts four past-producing mines (Beliveau mine, Bussiere mine, Monique mine and Beaufor mine) and contains 80 per cent of the company's gold resources in Val d'Or East. Novador is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills.

About Probe Gold Inc.

Probe Gold is a leading Canadian company focused on the acquisition, exploration and development of highly prospective gold properties. The company is well financed and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100 per cent of its flagship asset, the multimillion-ounce Novador gold project in Quebec, as well as an early-stage Detour gold project in Quebec. Probe controls a large land package of approximately 1,832 square kilometres of exploration ground within some of the most prolific gold belts in Quebec. The company's recent Novador updated preliminary economic assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life. Val d'Or properties include gold resources totalling 6,728,600 ounces in the measured and indicated category and 3,277,100 ounces in the inferred category along all trends and deposits.

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