Dr. David Palmer reports

PROBE AWARDS KEY ENGINEERING CONTRACTS TO ADVANCE NOVADOR PROJECT PRE-FEASIBILITY STUDY

Probe Gold Inc. has awarded all major engineering contracts for project management services related to the prefeasibility study (PFS) of its flagship Novador project. The PFS is scheduled for completion by the end of 2025.

Highlights:

• Ausenco Engineering Canada ULC will lead the PFS and will be responsible for the process plant design, the supporting infrastructure, and overall opex (operating expenses) and capex (capital expenses).
• G Mining Services Inc. will lead the mining engineering scope of the project, including mining opex and capex.
• GHD will lead the scope of the project related to the design of tailings and water management infrastructure.
• Probe has successfully completed a 50,000-metre infill drilling program to support the PFS, which remains on track for completion by year-end 2025.

Ausenco Engineering Canada has been appointed to lead the PFS and will oversee project timelines, milestones and deliverables. Ausenco will contribute technical expertise across core engineering disciplines, including infrastructure, metallurgy and processing and will produce a project execution plan with related capex and opex to advance the project toward the future feasibility study and permitting.

G Mining Services (GMS) has been engaged to lead all mining engineering aspects of the PFS. GMS's scope includes the open-pit and underground mining engineering and design, mine planning, mining infrastructure, mining opex and capex, and the development of the mining execution strategy.

GHD has been appointed for all engineering aspects related to tailings and water management infrastructure. GHD is currently producing the physical environment baseline studies, and it will be able to leverage its understanding of the Novador project site and the permitting requirements into their design and the selection of optimum solutions.

Dr. David Palmer, president and chief executive officer of Probe Gold, stated: "With these key contracts in place, Probe is well positioned to advance the Novador project into its next phase of development and deliver a robust, high-quality prefeasibility study. By working with global leaders, Ausenco for process infrastructure, G Mining Services for mining engineering, and GHD for water and tailings management, we have strong confidence in the technical quality and scope of the work ahead. These collaborations support our timeline to deliver the PFS by year-end. We see significant potential to enhance the current study and look forward to drawing on the expertise of our consultants throughout the process. At the same time, we are making steady progress on our permitting strategy. With the successful completion of our recent financing, Probe is fully funded to advance through the next stages of regulatory and permitting work, creating meaningful value for our shareholders."

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 202 square kilometres that hosts four past-producing mines (the Beliveau mine, the Bussiere mine, the Monique mine and the 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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