Probe drills 2.1 g/t gold over 28.8 metres at Val-d’Or East, Quebec

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Probe Metals Inc. [PRB-TSXV; PROBF-OTCQB] reported the second set of results from the 2022 drill program on its 100%-owned Val-d’Or East Monique property 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. Selected highlights from the current results are presented below.

David Palmer, President and CEO, stated, “We are in the very enviable position of being able to continue advancing our gold projects with large-scale drilling and regional exploration programs. With six drills turning at Val-d’Or East and two at Detour we will be able to make considerable progress with our development, expansion, and discovery-stage programs in 2022. These recent drill results from Monique demonstrate the high quality of the Val-d’Or assets and the continued improvement in the gold resources. Our goal this year is to advance the company on all fronts by solidifying Val-d’Or East as one of the preeminent development projects in Canada, demonstrating the considerable growth potential of its resources and identifying potential new catalysts in discovery targets on both the Val-d’Or East and Detour Quebec projects. In the current market conditions with a strong balance sheet, we will continue to position the Company and Val-d’Or East as one of the top undeveloped multi-million ounces project in Canada.”

Infill drilling – Twenty-nine of the 49 holes released today 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-metre depth and the A zone to approximately 500-metre depth. These holes intersected gold mineralization where predicted by our 3D model and confirmed the current block model with respect to grades and thicknesses.

Expansion drilling – Twenty 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. Fourteen of these expansion drilling holes intersected gold structures with grade times thickness above 15.0 g/t gold metre.

Forty-four 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.

Selected drill results from holes MO-22-278 to 326 at the Monique Area drilling program include 26.6 metres of 1.1 g/t gold, 4.0 metres of 10.1 g/t gold, 10.2 metres of 2.4 g/t gold, 20.6 metres of 1.5 g/t gold, 22.5 metres of 1.8 g/t gold, 15.8 metres of 1.6 g/t gold, 31.3 metres of 0.9 g/t gold, 5.5 metres of 4.8 g/t gold, 5.7 metres of 5.4 g/t gold, 4.0 metres of 6.8 g/t gold, 28.8 metres of 2.1 g/t gold, and 4.7 metres of 10.2 g/t gold. Refer to original press release for more details.

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 km2 in Louvicourt township. The property hosts a current Measured and Indicated Mineral Resource of 13,619,000 tonnes at 1.54 g/t for 672,800 ounces of gold and Inferred Resources of 11,733,000 tonnes 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 km2.

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