Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) Launches 50,000-Metre Infill Drill Program at Novador Project

Highlights:

• Probe Gold kicks off 50,000-metre infill drill program at Novador to upgrade resources for Pre-Feasibility Study.
• 10,115 metres of drilling already completed at Monique and Courvan, with plans to expand drilling to eight rigs.
• Probe targets completion of Pre-Feasibility Study by the end of 2025 to advance the Novador project toward development.

Probe Gold Inc. (TSX:PRB) (OTCQB: PROBF), a gold exploration company focused on the development of its Novador project, has announced the commencement of a 50,000-metre infill drilling program aimed at resource conversion in preparation for the upcoming Pre-Feasibility Study (PFS). This drilling effort is a key component of Probe's ongoing work to advance the Novador project toward development, with a planned completion of the PFS by the end of 2025.

The infill drilling program will focus on upgrading the inferred resource outlined in the Preliminary Economic Assessment (PEA) to the indicated category, which is necessary for the completion of the PFS. The PEA's mine plan includes a total of 100% inferred resources, with 72% already in the indicated category. By converting the remaining inferred resources to indicated, Probe aims to strengthen the project’s resource base and enhance the project's economics as it moves closer to development.

"The primary objective of the infill drill program is to convert the inferred resources in our PEA into the indicated category required for the PFS, scheduled for completion in late 2025," said David Palmer, President and CEO of Probe. “The PFS represents a critical milestone in advancing the Novador project toward development. With a strong treasury heading into 2025, Probe’s main focus is to continue advancing Novador, positioning it as a premier project capable of thriving in any gold price environment.”

To date, Probe has completed 10,115 metres of its current 50,000-metre drilling program, with results pending from drilling at both the Monique and Courvan deposits, which are part of the Novador project. The drilling program is well underway, with four drills currently operating on site, and Probe plans to expand this to eight drills for the winter season to expedite progress. The planned program will consist of approximately 150 drillholes across the Monique and Courvan zones, with an estimated total of 50,000 metres of drilling aimed at upgrading the resource.

Alongside the infill drilling program, Probe is conducting comprehensive engineering, environmental, and social studies to support the PFS. These studies will play an essential role in assessing the potential development of the Novador project, and they are expected to provide a clear picture of the project's environmental impact, social considerations, and economic viability.

The Novador project, which currently hosts over 10 million ounces of gold in resources, continues to show strong potential. Probe's efforts to improve the mine plan, including the optimization of pit sizes, and its progress in securing the necessary permits have positioned the project for future growth. The company’s confidence in Novador’s potential is reflected in its ongoing work to refine and enhance the project's resource base.

With a strong treasury heading into 2025 and continued progress on resource growth and permitting, Probe Gold is well-positioned to advance Novador toward its goal of becoming a high-quality gold producer. The infill drilling program and PFS are crucial steps in realizing this vision, and the company is optimistic about the project's future.

"Based on the progress made to date in permitting, resource growth to over 10 million ounces, and mine-plan improvements, our confidence in the project’s potential continues to grow,” added Palmer. “We have a clear path forward to development, and we remain committed to positioning Novador as a premier project in the gold mining sector."