Dr. David Palmer reports

PROBE GOLD COMPLETES ACQUISITION OF STELLA PROPERTY IN VAL-D'OR, QUEBEC

Probe Gold Inc. has completed its previously announced purchase agreement with Leopard Lake Gold Corp., pursuant to which it has acquired a 100-per-cent interest in the Stella property (see press release dated Dec. 18, 2024). The acquisition strengthens Probe's land position in the Val d'Or region by adding to its holdings immediately east of the flagship Novador project.

Transaction details

Pursuant to the agreement, Probe acquired a 100-per-cent interest in the property for consideration of 149,066 common shares of the company at a deemed price per share of $1.677, which is equal to $250,000 based on the 15-day volume-weighted average price per share on the Toronto Stock Exchange ended the last trading day immediately prior to the date of the agreement. The shares are 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 1983/1984 included magnetic, gradient and geological surveys, alongside 17 drill holes primarily targeting the quartz diorite hosting the Lacoma gold zones. Further exploration in 1987/1988 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 g/t Au 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 of exploration, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 the 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 recently updated Novador 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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