Probe Metals drills 1.5 g/t gold over 60 metres at Val-d’Or East, Quebec

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Probe Metals Inc. [PRB-TSXV; PROBF-OTCQB] reported further results from the 2022 drill program on its 100%-owned Val-d’Or East property, located near Val d’Or, Quebec.

Results from 51 new holes 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. Results from 336 holes drilled since the beginning of 2022 at Monique (79), Pascalis (197) and Courvan (60) are still pending and will be released as they are received and interpreted. Selected highlights from the current results are presented.

David Palmer, president and CEO, stated: “As we approach the end of the 2022 drilling season we are extremely pleased with the outcome. Monique has surprised to the upside in terms of resource expansion and resource conversion, while remaining open for further expansion in all directions. This year was our largest program to date and we still have a significant number of results pending, which we will continue to release as they come in. As we look to 2023 we will be focused on extracting even more value from the project, not only through expanding our gold resource base, but also targeting potential exploration catalysts across Val-d’Or East and on our Detour Quebec project, as well.”

Expansion drilling: Twenty-three holes released today are from the expansion drilling program designed to test the extension of the A, B, M, and new zones laterally and at depth. Twelve of these expansion drilling holes intersected gold structures with grade times thickness above 15.0 g/t. Gold mineralization above the 0.42 g/t gold cut-off grade was intersected in all of these holes and we are planning follow-up drilling to expand and define resources.

Expansion drilling highlights at the Monique deposit cut new intercepts grading up to 1.5 g/t gold over 60.0 metres, 32.1 g/t gold over 2.3 metres, 1.9 g/t gold over 20.3 metres and 1.0 g/t gold over 37.1 metres proximal to the existing resource

Infill drilling: Twenty-four holes are from the resource conversion drilling program designed to test the continuity of A, B, I and J zones inside the conceptual pits between surface to approximately 325 metres depth and four holes to test the A and B zones between 350 to 450 metres depth. All holes returned intercepts with gold grades above the 0.42 g/t gold cut-off grade of which 21 holes returned intercepts with grade times thickness above 15.0 g/t gold-metre.

Infill drilling continues to strengthen resource and returned significant new intersections grading up to 2.2 g/t gold over 38.3 metres, including 94.1 g/t gold over 0.8 metres, 2.3 g/t gold over 24.4 metres and 1.1 g/t gold over 36.9 metres.

Results confirmed the current block model with respect to grades and thicknesses. The 2022 infill drill program over the Monique gold zones has been successful in achieving an approximate 30 metres drill spacing over the mineralization in the PEA’s conceptual pits and down to 500 metres within the proposed underground resource areas.

Based on the drilling completed along the Monique Gold Trend since the PEA, the results demonstrate a strong continuity of the parallel to sub-parallel gold zones over a volume of more than 2 km long by 1 km 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 which are required for the completion of the Prefeasibility Study scheduled to be released in fall 2023.

Probe Metals is committed to discovering and developing high-quality gold projects, including its key asset the multimillion-ounce Val-d’Or East Gold Project, Quebec. The company is well-funded and controls a strategic 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; EGO-NYSE] owns approximately 10% of the company.

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