Corporate Presentation May 2014

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Corporate Presentation May 2014

  1. 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. MAY 2014
  2. 2. TSX.V: PRB Cautionary Notes Disclaimer This presentation contains a review of the Company’s projects in Canada. Viewers are cautioned that the projects are at an early stage of exploration and that estimates and projections contained herein are based on limited and incomplete data. More work is required before the mineralization on the projects and their economic aspects can be confidentially modeled. Therefore, the work results and estimates herein may be considered to be generally indicative only of the nature and quality of the projects. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates herein will be confirmed by future exploration or analysis, or that the projects will otherwise prove to be economic. Forward-Looking Statements This presentation includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. 2
  3. 3. TSX.V: PRB Investment Highlights 3 Borden: A Growing High-Grade Gold Project in Ontario, Canada  Low geopolitical risk  Pit-constrained Resource over 4.3 MMoz @ 1.03 g/t Au (January 2013)  Continued high-grade intercepts, over 1.6km of strike length identified  Significant, ongoing, resource growth potential and still open in both directions 2014 TSX Venture TOP 50 2013 Ontario Prospector Award Experienced Management Team  Strong history in exploration, mining engineering & capital markets Strong Financial Position  $29.4 million at January 31st, 2014  Well funded to continue de-risking through engineering and permitting  Goldex Royalty: Potential production milestone payment of $4.0 million anticipated Potential for New Discoveries  Two major discoveries: Borden Gold & Black Creek Chromite  Strong exploration potential: Over 400 square km of new ground within the Borden Belt  Ongoing strategy to consolidate the Borden Belt
  4. 4. TSX.V: PRB Patrick Reid, B.A. Chairman of the Board Past President of the Ontario Mining Association 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 4
  5. 5. TSX.V: PRB 5 Analyst Coverage BMO Capital Markets Andrew Kaip Cormark Securities Tyron Breytenbach Edgecrest Capital Ali Khan Jennings Capital Peter Campbell Mackie Research Barry Allan Macquarie Capital Markets Pierre Vaillancourt Raymond James David Sadowski RBC Capital Markets Sam Crittenden Scotia Capital Mike Hocking Major Shareholders Holdings (I&O) Institutional / Strategic Investors: Agnico Eagle, Macquarie, Sprott, US Global, AGF, Sentry, Goodman, Fidelity, BMO, Seamans, etc. ~ 50% Management & Directors 6% Probe Mines Limited Symbol: PRB Listed Exchange Toronto Venture Market capitalization $202.5 million Shares outstanding (basic) 76.4 million Shares outstanding (fully diluted) 89.4 million Cash Balance (01/31/14) $29.4 million Debt None 52 week trading range $1.23 - $3.95 Recent Price (05/21/14) $2.65 Corporate Summary
  6. 6. TSX.V: PRB Ontario: Mining Friendly Jurisdiction BORDEN GOLD  Favourable and well-developed infrastructure, 1 km from paved highway and power  Pit-constrained Resource over 4.3 MMoz at 1.03 g/t Au, still expanding and improving in grade  High-grade zone expanding and open along strike  Significant, ongoing, resource growth potential  Potential for low CAPEX 6 BLACK CREEK CHROMITE  Strategically located between Cliffs Natural Resources’ Black Thor and Big Daddy deposits  Over 10Mt of high-grade chromite in open-pitable deposit
  7. 7. TSX.V: PRB BORDEN GOLD – REGIONAL GEOLOGY-LOCATION Chapleau Area Infrastructure • Close to numerous mining districts • Excellent access & local infrastructure Only 9 km from Chapleau 1 km to Highway/Power 10 mins to Rail • Within the Kapuskasing Structural Zone Underexplored • Community Receptive to new industry • First Nations Agreement in place 7 New Gold District
  8. 8. TSX.V: PRB High-Grade Gold Zone Expanding 8 BORDEN GOLD – DRILL PLAN Since discovery: 619 drill holes completed, representing over 220,000 metres 2013 program: 218 drill holes for ~84,000 metres 2014 winter program: 34 drill holes for ~19,000 metres
  9. 9. TSX.V: PRB 9 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 BL13-455 1500m SE 44.4 4.0 including 14.3 11.1 BL13-562 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 19.4 31.6 including 8.4 66.3 BL13-403 1900m SE 39.0 5.0 including 13.0 11.2 BL13-554 2000m SE 35.0 4.0 including 20.0 6.5 BL14-616W 2100m SE 40.0 3.0 including 11.3 4.5 BL14-615 2200m SE 10.7 5.1 BL14-611 2400m SE 71.0 3.5 including 4.7 25.1 BL14-594 2500m SE 10.3 7.7  Consistent Zonation within the high-grade zone over 1.6 kilometres in strike length  179 drill holes completed in the high-grade zone, between section 1000mSE to 2600mSE, representing over 84,000 metres of drilling High-Grade Continuity in the Southeast Actual trend Predicted trend New Expansion New Expansion
  10. 10. TSX.V: PRB 10 High-Grade Zone (HGZ) Section 1850m SE Flattening of SE plunge caused the original planned holes to undercut the HGZ, resulting in only the bottom half of the zone on Section 2200mSE being drilled. It is expected that 2nd phase drilling will delineate the best part of HGZ Section 2200m SE 15.7 m @ 5.2 g/t 10.7 m @ 5.7 g/t Start of HGZ Low grade envelope Start of HGZ Low grade envelope Original predicted center of HGZ Centre of HGZ Holes undercut mineralization Trace of 1850mSE zone (superimposed on Section 2200mSE) Trace of Section 1850mSE zone 39.0 m @ 16.3 g/t
  11. 11. TSX.V: PRB • Over 350 square km of unexplored ground within the Borden and associated Belts • High potential for new discoveries 11 LAND POSITION Potential for New Discoveries
  12. 12. TSX.V: PRB 12 Chapleau Area Property Land acquisition is a priority for 2014 BORDEN GOLD - MAP
  13. 13. TSX.V: PRB 13 PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE, JANUARY 2013* Resources Category Cut-off Grade (g/t gold) Tonnes (000’s) Grade (g/t gold) Gold (oz) (000’s) Indicated Inferred 1.5 1.5 14,452 2,545 2.34 2.61 1,086 214 Indicated Inferred 1.0 1.0 37,600 6,351 1.64 1.77 1,982 361 Indicated Inferred 0.5 0.5 112,844 18,036 1.02 1.08 3,686 625 Pit-constrained Resource of 4.3 MMoz at 1.03 g/t Au average grade at a 0.5 g/t Au cut-off  85% of the total Pit Constrained resource is in the Indicated category *Mineral Resources Statement, P&E Mining Consultants Inc. Borden Gold - Resource, January 2013 Discovery Cost < US$4/oz
  14. 14. TSX.V: PRB Advancing Borden Gold Discovery in 2010 Infrastructure NI 43-101 Resource Estimate (3) Size Grade Advanced metallurgy Mining team Strong treasury  High-Grade Infill Drill results  Updated NI 43-101 Resource Estimate  Land acquisition  Preliminary Economic Assessment (PEA) 14
  15. 15. TSX.V: PRB Contact Information Tel: (416) 777-6703 Fax: (416) 777-6705 Email: info@probemines.com Website: www.probemines.com Head Office 56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5 15 David Palmer, Ph.D., P.Geo. President & Chief Executive Officer Patrick Langlois, MBA, CFA Vice President, Corporate Development

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