Probe Mines Presentation

1. TSX.V: PRB
Borden Discovery Outcrop
Building Ontario’s Newest
Gold District
Probe Mines Limited was recognized as a TSX Venture 50® Company in 2014. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
DECEMBER 2014

2. TSX.V: PRB
Cautionary Notes
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Forward Looking Information
This Presentation contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, the anticipated production and developments in our operations in future periods, information with respect to our planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral reserves and resources including the 2014 Borden Gold Mineral Resource estimate, realization of mineral reserve and resource estimates and timing of development of our Borden Gold project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Borden Gold Project, timing and receipt of approvals, consents and permits under applicable legislation, our executive compensation approach and practice, the composition of our board of directors and committees and adequacy of financial resources. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in our Annual Information Form dated September 15, 2014 filed on SEDAR at www.sedar.com. Forward-looking information is based on the expectations and opinions of our management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
National Instrument 43-101
Technical and scientific information contained herein relating to the Projects is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports (“Reports”) Mineral Resources Update Borden Gold Project dated June 10, 2014. We have filed the Reports and Update under our profile at www.sedar.com. Technical and scientific information not contained within the Reports for the Projects and contained in this Presentation has been reviewed and approved by Independent Qualified Persons Walter Allan Dzick, P.Geo., of Snowden, whom is an independent “qualified person” under NI 43-101. The Technical Reports and Update are available for revision on SEDAR at www.SEDAR.com under the Company’s profile.
This Presentation uses the terms “indicated resources” and “inferred resources”. Although these terms are recognized and required by Canadian regulations (under NI 43- 101), the United States Securities and Exchange Commission does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no guarantee that all or anypart of the mineral resource will be converted into mineral reserves.
In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Currency
Unless otherwise indicated, all dollar values herein are in Canadian $.

3. TSX.V: PRB
Investment Highlights
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Borden: A Large and Growing High-Grade Gold Project in Ontario, Canada
100%-owned project, high quality, low risk project
High-Grade Underground Constrained Resource1
•Indicated category: 1.6 MMoz @ 5.39 g/t Au
•Inferred category: 0.4 MMoz @ 4.37 g/t Au
Open Pit-Constrained Resource1
•Indicated category: 2.3 MMoz @ 1.03 g/t Au
Initiate infill drill program on the “wedge” claim to expand high-grade resource
Excellent expansion potential, the deposit is open in both directions
Experienced Management Team
Appointment of Jamie Sokalsky as Chairman, former Barrick’s President & CEO
Strong history in exploration, mining engineering & capital markets
Strong Financial Position
Cash position ~$15 million
Well-funded to continue growing the existing resource, and advancing the project through engineering and permitting
Goldex Royalty: Production milestone payment of $4.0 million expected Q2-2015
Potential for New Discoveries
786-square-kilometres of unexplored ground in the Borden Gold District
(1) Source: NI 43-101 technical report Mineral Resources Update Borden Gold Project dated June 10, 2014.

4. TSX.V: PRB
Land Transaction Highlights
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PROBE MINES CONSOLIDATES 100% OWNERSHIP OF THE BORDEN GOLD PROJECT AND ACQUIRES KEY STRATEGIC LAND PACKAGE TO GIVE EXCLUSIVE CONTROL OVER BORDEN GOLD DISTRICT
Probe Mines acquired:
3 option claims – surface and mineral rights
33 additional patent claims – surface and mineral rights – in and around the existing mineral resource
450 mineral rights/claims to consolidate the Borden Gold District
Royalty-free on the high-grade resource and all the exploration ground
Excellent potential to expand and grow the high-grade zone
Capitalize on exploration upside of the Borden Gold project
Strengthens land position in the Borden Gold District and all of its untapped exploration potential. When combined with the East Limb property, the 786-square-kilometre property gives Probe 100% ownership of the entire 70 kilometre strike length of the Borden Belt.
Purchase price: CAD$25 million plus 6 million common shares
The Company’s balance sheet remains strong following the acquisition and an aggressive program is planned for exploration of the deposit during 2015

5. TSX.V: PRB
Jamie Sokalsky Chairman of the Board
Former President & Chief Executive Officer of Barrick Gold Corporation
David Palmer, Ph.D., P.Geo. President, Chief Executive Officer & Director
Over 25 years in the Mining Industry
Yves Dessureault, Ph.D., MBA, P.Eng. Chief Operating Officer
Over 25 years of experience in Operations, Project Evaluation & Mine Development
Patrick Langlois, MBA, CFA Vice President, Corporate Development
Over 15 years of experience in Corporate Development & Investment Banking
Carmelo Marrelli, CA, CSA Chief Financial Officer
Experienced Mining Accountant
John Gammon, Ph.D. Director
Former Assistant Deputy Minister of Mines for Ontario
Gordon McCreary, MBA, P.Eng. Director
Former officer of Kinross and Baffinland, currently President & CEO of Castle Mountain Mining
Dennis Peterson, B. Comm, LLB Director
Corporate Securities Lawyer, Small Cap Mining Expertise
Basil Haymann Director
Entrepreneur, currently Chairman of Guard-All Building Solutions
Management Team
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6. TSX.V: PRB
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Analyst Coverage
BMO Capital Markets
Andrew Kaip
Cormark Securities
Tyron Breytenbach
Edgecrest Capital
Ali Khan
Euro Pacific Canada
Ryan Walker
Mackie Research
Barry Allan
Macquarie Capital Markets
Michael Gray
Raymond James
David Sadowski
RBC Capital Markets
Sam Crittenden
Scotia Capital
Mike Hocking
Major Shareholders
Holdings (I&O)
Institutional / Strategic Investors:
Agnico Eagle, Sprott, Van Eck, US Global, 1832 Asset Management, AGF, RBC, Goodman, Fidelity, Mackenzie, BMO, etc.
~ 50%
Management & Directors
5%
Probe Mines Limited
Symbol: PRB
Listed Exchange
Toronto Venture
Market capitalization
$236.1 million
Shares outstanding (basic)
90.8 million
Shares outstanding (fully diluted)
104.3 million
Cash Balance
~$15.0 million
52 week trading range
$1.96 - $3.95
Recent Price (12/09/14)
$2.60
Corporate Summary

7. TSX.V: PRB
Ontario: Mining Friendly Jurisdiction
BORDEN GOLD
 Large resource anchoring a new district
 100%-owned
 Excellent expansion potential; High-Grade Zone still open along strike
 Development flexibility and potential for low CAPEX
 Favourable and well-developed infrastructure
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BLACK CREEK CHROMITE
 Strategically located between Cliffs Natural Resources’ Black Thor and Big Daddy deposits
 High-Grade Chromite deposit at surface

8. TSX.V: PRB
•Close to numerous mining districts
•Excellent access & local infrastructure
Only 9 km from Chapleau and Power Lines
1 km to Highway
10 minutes to Rail
•Within the Kapuskasing Structural Zone
Underexplored
•Community
Receptive to new industry
•First Nations
Agreement in place
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New Gold District
BORDEN GOLD – REGIONAL GEOLOGY-LOCATION

9. TSX.V: PRB
High-Grade Gold Zone Expanding
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BORDEN GOLD – DRILL PLAN
Expansion potential, the deposit is open in both directions
Infill drill program on the “wedge” claim to expand high-grade resource
Since discovery: 624 drill holes completed, representing over 224,000 metres
Expansion and infill winter drill program 2015
Infill drill program

10. TSX.V: PRB
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Hole
Section
Width
(m)
Gold
(g/t)
BL14-583
1000m SE
39.5
7.0
including
16.0
12.4
BL12-256
1200m SE
51.0
10.3
including
25.0
17.8
BL13-562
1600m SE
42.9
4.9
including
8.8
17.2
BL14-573
1850m SE
39.0
16.3
including
19.4
31.6
including
8.4
66.3
BL14-621W
2150m SE
21.0
7.0
including
13.0
10.5
BL14-611
2400m SE
71.0
3.5
including
4.7
25.1
Consistent Zonation within the high-grade zone over 1.7 kilometres in strike length and still open for expansion
183 drill holes completed in the high-grade zone, between section 1000mSE to 2600mSE, representing over 86,000 metres of drilling
High-Grade Continuity
BORDEN GOLD – LONG SECTION
Expansion and infill winter drill program 2015
Infill drill program

11. TSX.V: PRB
High-Grade Zone Continuity
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Hole
Section
Width
(m)
Gold
(g/t)
BL13-358
900m SE
36.5
4.5
including
11.7
11.5
BL14-583
1000m SE
39.5
7.0
including
16.0
12.4
BL13-421
1100m SE
29.4
5.9
including
6.5
15.3
BL12-256
1200m SE
51.0
10.3
including
25.0
17.8
BL13-399
1250m SE
26.1
8.5
including
17.7
12.0
BL13-420
1300m SE
47.0
6.8
including
8.0
32.7
1350m SE
Infill drill
program on the “wedge” claim
1400m SE
1450m SE
BL13-455
1500m SE
44.4
4.0
including
14.3
11.1
BL14-562
1600m SE
42.9
4.9
including
8.8
17.2
BL13-378
1700m SE
25.0
4.6
including
12.9
7.4
BL13-402
1800m SE
27.1
6.4
including
9.2
11.1
BL14-573
1850m SE
39.0
16.3
including
19.0
31.6
Section 1300m SE
Section 1600m SE
•Strong drill results on either side of the “wedge” claim
•The cross-sections of the high-grade zone are showing thickening and strengthening of mineralized Intervals at the core

12. TSX.V: PRB
Land Position – Borden Gold
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Note: The 36 surface rights claims acquired on December 10, 2014, will be transferred to the Company when the consent is obtained from the Planning Act (Ontario)
CLAIM FABRIC
•Sufficient ground for the future infrastructure including underground development
•Proceeding with the application of selected permits for the project

13. TSX.V: PRB
•Evaluating 786-square- kilometres of unexplored ground within the Borden Belt
•$5 million budgeted towards regional exploration
•Successfully delineated geochemical anomaly along the Belts
•Airbone geophysical, soil geochemical and ground geophysical surveys completed in the last 12 months
•Multiple drill targets identified, planning 5,000 metres drill program
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Boden Gold District
PROPERTY MAP – REGIONAL EXPLORATION

14. TSX.V: PRB
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UNDERGROUND CONSTRAINED NI 43-101 RESOURCE ESTIMATE*
Resources Category
Cut-off Grade
(g/t gold)
Tonnes
(000’s)
Grade
(g/t gold)
Gold (oz)
(000’s)
Indicated
Inferred
3.5
3.5
5,886
1,521
6.80
5.79
1,286
283
Indicated
Inferred
3.0
3.0
7,222
2,125
6.14
5.06
1,426
346
Indicated
Inferred
2.5
2.5
9,262
3,034
5.39
4.37
1,604
426
Indicated
Inferred
2.0
2.0
12,985
4,317
4.48
3.73
1,870
518
Mineral Resources, June 2014
OPEN PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE*
Resources Category
Cut-off Grade
(g/t gold)
Tonnes
(000’s)
Grade
(g/t gold)
Gold (oz)
(000’s)
Indicated
Inferred
1.0
1.0
27,901
55
1.50
1.40
1,349
2
Indicated
Inferred
0.5
0.5
70,301
247
1.03
0.80
2,322
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* Mineral Resources Statement, Snowden Mining Industry Consultants Inc.
* For additional information on the Mineral Resource Update, please refer to the Company’s NI 43-101 technical report Mineral Resources Update Borden Gold Project dated June 10, 2014, available on SEDAR at www.SEDAR.com under the Company’s profile.

15. TSX.V: PRB
Advancing Borden Gold Discovery in 2010 100% owned Infrastructure NI 43-101 Resource Estimate (4) Size Grade Advanced Metallurgy Environmental Baseline Studies Community Support Mining Team Strong Treasury
Initiate infill drill program to expand high-grade resource (Q4-2014)
Winter drill program - Expansion and infill (Q1-2015)
Updated NI 43-101 Resource Estimate (H1-2015)
Preliminary Economic Assessment (PEA) (H1-2015)
Ongoing Regional Exploration
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16. TSX.V: PRB
Phone: (416) 777-6703
Email: info@probemines.com
Website: www.probemines.com
Head Office
56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5
Building Ontario’s Newest Gold District
David Palmer
President & Chief Executive Officer
Yves Dessureault
Chief Operating Officer
Patrick Langlois
Vice President, Corporate Development