Dr. David Palmer reports

PROBE GOLD COMPLETES ACQUISITION OF BERMONT CLAIMS ADJACENT TO MONIQUE GOLD DEPOSIT, VAL-D'OR, QUEBEC

Probe Gold Inc. has completed its agreement with Gestion Jadmine Inc. to acquire a 100-per-cent interest in the Bermont claims (see press release dated Dec. 20, 2024). Adjacent to the company's Monique gold deposit, the property adds 750 metres of potential strike extension to the east and comprises 10 contiguous claims within the Novador development project. Historical drilling (1945 to 2011) identified high-grade zones at the Bermont and Adelemont areas, highlighting strong potential for new gold resources and discoveries. Exploration and resource expansion drilling are planned as part of the company's 2025 program.

Highlights:

• The Bermont claims extend the company's Monique deposit's eastern boundary, adding 750 metres of potential strike extension. The Monique resource includes 3.56 million ounces M&I (measured and indicated) and 680,000 ounces inferred over 2,500 metres of strike length.
• The property (as defined below) hosts the Bermont and Adelemont zones, with minimal drilling to date. These zones remain open laterally and at depth, sharing the same geological setting as the Monique deposit.
• The claims add surface area near the Monique pit, enhancing mine design and reducing costs.
• The company is currently pl anning resource expansion and drill programs for 2025.

Transaction details:

Pursuant to the agreement, the company acquired a 100-per-cent interest in the Bermont claims for $3-million, consisting of $1.5-million in cash and 894,432 common shares, representing $1.5-million in common shares at a deemed price per share of $1.677 based on the 10-day VWAP (volume-weighted average price) prior to the closing date. An additional $1.5-million milestone payment will be made upon confirming a mineral resource of at least one million ounces of gold (M&I or higher) in accordance with National Instrument 43-101, Standards for Disclosure on Mineral Products. Jadmine retains a 3.5-per-cent net smelter return royalty over the Bermont claims, of which 2.5 per cent can be purchased by Probe, at any time, for $2.5-million. The consideration shares are subject to a four-month hold period.

About the Bermont claims property

The Bermont claims are adjacent to the Monique deposit, which hosts resources of 3,559,600 ounces M&I and 677,300 ounces inferred (see press release dated Sept. 5, 2024). The Bermont and Adelemont mineralized zones were formed contemporaneous to the Monique gold deposit and show similar characteristics. Gold mineralization is associated with deformation zones and porphyry dikes within mafic to ultramafic volcanics assemblage crossing the property with an orientation of 280 degrees and dipping minus 80 degrees to the north. Gold mineralization is defined by a network of quartz-tourmaline-carbonate veins and veinlets with disseminated sulphides in altered wall rocks.

The history of the property dates to 1945, with the discovery of the Adelemont gold zone. The property was subjected of exploration activities from 1945 to 2011, which consisted mainly in drilling the Adelemont zone and magnetic surveys covering the area. The Bermont zone was discovered in 2008 and very few holes were drilled into this zone. The most recent exploration drill program was in 2011 and returned intercepts grading up to 30.9 grams per tonne gold over 1.6 metres, 5.7 grams per tonne gold over 3.2 metres and 2.9 grams per tonne gold over 4.0 metres.

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 835 square kilometres that represents one of the largest landholdings in the Val d'Or mining camp. The Novador project represents one property block of 205 square kilometres that 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 1,835 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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