Probe Metals TSXV:PRB Stock Report

Probe Metals Inc. Intersects 4.4 G/T Au over 15.4 Metres in Expansion Drilling At Monique, Val-D’Or East Project

Probe Metals Inc. provide the third set of results from the 2022 drill program on its 100%-owned Val-d’Or East Monique property (the “Property”) located near Val-d’Or, Quebec. Results from twenty-five new holes and one depth extension hole demonstrate continued strike and depth expansion with significant gold intercepts along the Monique gold zones. The 2022 drill program aimed to convert, expand, and discover new gold resources within and surrounding the conceptual pits from the 2021 PEA report. Given the continued positive expansion drill results, the Company is also pleased to report that it is increasing the 2022 Val-d’Or East drilling program to 165,000-metre (from 150,000-metre). Results from over 175 holes drilled since the beginning of 2022 at Monique are still pending and will be released as they are received. Expansion drilling - Eighteen (18) of the twenty-six (26) holes released are from the expansion drilling program designed to test the extension of the A, G, I, J, K, P and T zones laterally and at depth. Nine (9) of these expansion drilling holes intersected gold structures with grade times thickness above 15.0 g/t Au metre. Infill drilling – Eight (8) holes are from the resource conversion drilling program designed to test the continuity of A, G, I and K zones inside the conceptual pits between surface to approximately 300 metres depth and the G zone around 350 metres depth. These holes intersected gold mineralization where predicted by 3D model and confirmed the current block model with respect to grades and thicknesses. Based on the drilling completed along the Monique Gold Trend since the PEA, the results demonstrate a strong continuity of the sub-parallel to parallel gold zones over a volume of more than 2 kilometres long by 1 kilometre wide and locally up to 600 metres depth. The Monique Gold Trend zones are all open along strike and at depth. In addition to drilling activities, Probe is advancing, rock mechanics, ground geotechnical, metallurgical and baseline studies on the project, and has initiated community and social engagement activities. Gold mineralization on the Monique property is mainly associated with three deformation zones that cross the property with an orientation of 280° and a 75°- 80° dip to the north. Gold mineralization is defined by a network of quartz/tourmaline/carbonate veins and veinlets with disseminated sulphides in the altered wall rocks. A total of 16 parallel gold zones have been discovered on the property, to-date. Some mineralized zones have been defined from surface to a depth of 600 metres and vary in width from 1 metre to up to 100 metres. Mineralized structures extend laterally up to 900 metres. The Monique open pit mine began commercial production in 2013 and ceased production at the end of January 2015. A total of 0.58 Mt of mineralized material was extracted at a grade of 2.53 g/t Au, from the surface to 100 metres depth for a total of 45,694 ounces of gold.

Probe Metals Continues to Expand Gold Zones At Monique Trend, Val-D’Or East Project

Probe Metals Inc. provided the second set of results from the 2022 drill program on its 100%-owned Val-d’Or East Monique property (the “Property”) located near Val-d’Or, Quebec. Results from 49 holes from the extensive 2022 drilling program, which is designed to convert, expand and discover new gold resources, returned significant gold intercepts within and surrounding the conceptual pits from the 2021 Preliminary Economic Assessment (PEA) report. The company also reported that the 2022 resource drilling program is progressing very well with sixty percent of the 150,000-metre program completed in the first half of the year. Results from over 155 holes drilled since the beginning of 2022 at Monique are still pending and will be released as they are received. Infill drilling – 29 of the 49 holes released are from the resource conversion drilling program designed to test the continuity of A, G, J, P and S zones inside the conceptual pits between surface to approximately 300-metres depth and the A zone to approximately 500-metres depth. These holes intersected gold mineralization where predicted by 3D model and confirmed the current block model with respect to grades and thicknesses. Expansion drilling - 20 holes from the expansion drilling program were designed to test the extension of the A, G, J, K, P and S zones laterally and at depth. 14 of these expansion drilling holes intersected gold structures with grade times thickness above 15.0 g/t Au metre. 44 holes, listed in today's news release, returned significant drill intercepts that will be included in an updated resource for the Val-d’Or East project, which will form the basis of the prefeasibility study (PFS) expected to be completed in 2023. The Monique Gold Trend deposits are all open along strike and at depth. In addition to drilling activities, the corporation is advancing, rock mechanics, ground geotechnical, metallurgical and environmental baseline studies on the project, and has started community and social engagement activities. The Monique property is located 25 km east of Val-d’Or, in Quebec, and consists of 21 claims and one mining lease covering a total area of 5.5 square kilometres in Louvicourt township. The property hosts a current measured and indicated mineral resource of 13,619,000 tonnes at a grade of 1.54 g/t for 672,800 ounces of gold and inferred mineral resource of 11,733,000 tonnes at a grade of 1.78 g/t for 671,400 ounces of gold. The Property is part of the Company’s Val-d’Or East Project, and the consolidated land package stands at 436 square kilometres. Val-d’Or East is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills.

Probe Metals Inc. announced that it has received CAD 10.5 million in funding from a group of investors

Probe Metals Inc. announced that it expects to receive CAD 9.287374 million in funding