Probe Gold drills 3.9 g/t gold over 44 metres at Novador, Quebec

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Probe Gold Inc. [PRB-TSXV; PROBF-OTCQB] reported the first set of results from the 2022 Pascalis gold trend resource drill program on its 100%-owned Novador project, located near Val d’Or, Quebec.

Results from the first 59 drill holes, totalling 11,200 metres, have been successful in confirming continuity of gold zones, through infill drilling, as well as expanding near-surface gold mineralization at both Beliveau and North deposits. An updated mineral resource estimate (MRE) is currently being calculated and will include the new results released today. Significant new drill results are presented here.

Dr. David Palmer, president and CEO, stated: “The Novador project continues to improve and grow, with the Beliveau and North deposits returning impressive results in both infill and expansion drilling programs. In addition to strong grades, the deposits are showing excellent consistency and continuity in the mineralized zones, which builds confidence in these substantial development assets. At this stage of the project, with a large resource already in place, these results speak more to the continued growth in scale of the project and our ability to increase the projected annual production. We are currently working towards updated mineral resource estimates on Beliveau, North and Courvan deposits and are looking forward to advancing Novador.”

Drill program on the Beliveau and North deposits in 2022 continued to identify new mineralization within the conceptual pits defined by the 2021 MRE. Of the 59 shallow holes drilled to identify or confirm near-surface mineralization, 48 yielded gold intercepts over 0.4 g/t gold, which is above the cut-off grade used in the 2021 pit-constrained resource estimate. The most significant expansion drilling results were found in the extension to the west of the Beliveau deposit and the extension of the North deposit to the north. Infill drilling at Beliveau and North also returned notable results as expected. Shallow gold mineralized structures were intersected in the north and northwest part of the North deposit, which require further follow-up drilling, and all the zones are still open at depth.

The geology and geometry of the mineralization intersected by holes PC-20-676 to 734 are similar to those intersected previously along the Pascalis Gold Trend and consist of shallow dipping tension vein networks closely associated with sub-vertical east-west deformation zones and north-northwest dykes.

Highlights included drill hole PC-22-701 that returned 9.5 metres of 3.2 g/t gold. PC-22-725 returned 44.0 metres of 3.9 g/t gold, including 1.3 metres of 66.3 g/t gold, including 0.8 metres of 51.0 g/t gold. PC-22-730 returned 2.9 metres of 10.1 g/t gold, including 0.9 metres of 31.5 g/t gold. PC-22-732 returned 21.7 metres of 2.7 g/t gold. PC-22-734 returned 1.0 metre of 156.0 g/t gold.

Probe Gold’s key asset the multimillion-ounce Novador Gold Project, Quebec. The company is well-funded and controls a large land package of approximately 1,500 km2 of exploration ground within some of the most prolific gold belts in Quebec. The company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp. Eldorado Gold Corp. [ELD-TSX] currently owns approximately 10% of the company.

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