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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.
AUGUST 2014
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
TSX.V: PRB
Investment Highlights
3
Borden: A Large and Growing High-Grade Gold Project in Ontario, Canada
 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
 Preliminary Economic Assessment expected H2-2014
 Significant exploration upside, the deposit is open in both directions
Experienced Management Team
 Strong history in exploration, mining engineering & capital markets
Strong Financial Position
 Cash position ~$45 million
 Well-funded to continue growing the existing resource, and advancing the project 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
(1) Source: National Instrument 43-101 technical report update on the Borden Gold project, dated June 10, 2014.
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
TSX.V: PRB
5
Analyst Coverage
BMO Capital Markets Andrew Kaip
Cormark Securities Tyron Breytenbach
Edgecrest Capital Ali Khan
Euro Pacific Canada Ryan Walker
Jennings Capital Peter Campbell
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, AGF, RBC, Goodman,
Fidelity, Mackenzie, BMO, etc.
~ 50%
Management & Directors 6%
Probe Mines Limited Symbol: PRB
Listed Exchange Toronto Venture
Market capitalization $199.3 million
Shares outstanding (basic) 84.8 million
Shares outstanding (fully diluted) 97.8 million
Cash Balance ~$45.0 million
Debt None
52 week trading range $1.60 - $3.95
Recent Price (08/06/14) $2.35
Corporate Summary
TSX.V: PRB
Ontario: Mining Friendly Jurisdiction
BORDEN GOLD
 Large resource anchoring a new district
 Development flexibility and potential for low
CAPEX
 Favourable and well-developed infrastructure
 High-Grade Zone still open along strike
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
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
TSX.V: PRB
High-Grade Gold Zone Expanding
8
BORDEN GOLD – DRILL PLAN
Since discovery:
624 drill holes
completed,
representing over
224,000 metres
2014 winter
program:
34 drill holes for
~19,000 metres
TSX.V: PRB
9
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
 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
TSX.V: PRB
Typical High-Grade Cross Section
10
BORDEN GOLD – TYPICAL CROSS SECTION
Intervals are thickest and highest-grade at the core of the lens in cross-section
Typical cross-section through the high-grade zone showing thickening and
strengthening of mineralized Intervals at the core
TSX.V: PRB
11
3D Block Model
BORDEN GOLD – BLOCK MODEL Parameters & Assumptions June 2014
Metres of Drilling in Block Model Over 224,000
Number of Assayed Meters Over 168,000
Long Term Gold Price (US$) $1,300
Currency Exchange Rate
(Cdn$/US$)
1.11
Specific Gravity (SG), Avg.
Mineralized Zone
2.78
Capping 100 g/t
Block Model & Interpolation Software Datamine
Interpolation Method Ordinary Kriging
Block Sizes (m x m x m) 5 x 5 x 5
Underground
Cut-off Grade U/G (g/t) 2.5
(Processing + G&A) Cdn$/tonne U/G $22.80
Mining Cdn$/tonne U/G $50.00
Process Recovery 92%
Open Pit
Cut-off Grade O/P (g/t) 0.5
(Processing + G&A) Cdn$/tonne O/P $17.37
Avg. Mining Cdn$/tonne O/P $2.20
Assumed O/P Slope Angle 48
Process Recovery Variable
O/P Strip Ratio 5.3 : 1
(Waste Tonnes Per Resource Tonne)
Continuity of the high-grade zone provides
developmental flexibility
TSX.V: PRB
Mineral Resources by Category
12
BORDEN GOLD – MINERAL RESOURCES BY CATEGORY
Indicated
Inferred
0
 99% of the Open Pit-Constrained Resource is in the Indicated Category
 79% of the Underground Constrained Resource is in the Indicated Category
TSX.V: PRB
13
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 Statement, Snowden Mining Industry Consultants Inc.
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
6
TSX.V: PRB
14
Chapleau Area Property
Land acquisition is a priority for 2014
BORDEN GOLD - MAP
TSX.V: PRB
• Over 400 square
km of unexplored
ground within the
Borden and
associated Belts
• High potential for
new discoveries
15
LAND POSITION
Potential for New Discoveries
TSX.V: PRB
Advancing Borden Gold
Discovery in 2010
Infrastructure
NI 43-101 Resource Estimate (4)
Size
Grade
Advanced Metallurgy
Environmental Baselines Study
Community Support
Mining Team
Strong Treasury
 High-Grade Infill Drill Results
 Land Acquisition
 Preliminary Economic Assessment (PEA)
 Advanced Exploration
 Regional Exploration
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
David Palmer
President & Chief Executive Officer
Yves Dessureault
Chief Operating Officer
Patrick Langlois
Vice President, Corporate Development
Building Ontario’s Newest Gold District

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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. AUGUST 2014
  • 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. TSX.V: PRB Investment Highlights 3 Borden: A Large and Growing High-Grade Gold Project in Ontario, Canada  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  Preliminary Economic Assessment expected H2-2014  Significant exploration upside, the deposit is open in both directions Experienced Management Team  Strong history in exploration, mining engineering & capital markets Strong Financial Position  Cash position ~$45 million  Well-funded to continue growing the existing resource, and advancing the project 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 (1) Source: National Instrument 43-101 technical report update on the Borden Gold project, dated June 10, 2014.
  • 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. TSX.V: PRB 5 Analyst Coverage BMO Capital Markets Andrew Kaip Cormark Securities Tyron Breytenbach Edgecrest Capital Ali Khan Euro Pacific Canada Ryan Walker Jennings Capital Peter Campbell 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, AGF, RBC, Goodman, Fidelity, Mackenzie, BMO, etc. ~ 50% Management & Directors 6% Probe Mines Limited Symbol: PRB Listed Exchange Toronto Venture Market capitalization $199.3 million Shares outstanding (basic) 84.8 million Shares outstanding (fully diluted) 97.8 million Cash Balance ~$45.0 million Debt None 52 week trading range $1.60 - $3.95 Recent Price (08/06/14) $2.35 Corporate Summary
  • 6. TSX.V: PRB Ontario: Mining Friendly Jurisdiction BORDEN GOLD  Large resource anchoring a new district  Development flexibility and potential for low CAPEX  Favourable and well-developed infrastructure  High-Grade Zone still open along strike 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. 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. TSX.V: PRB High-Grade Gold Zone Expanding 8 BORDEN GOLD – DRILL PLAN Since discovery: 624 drill holes completed, representing over 224,000 metres 2014 winter program: 34 drill holes for ~19,000 metres
  • 9. TSX.V: PRB 9 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  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
  • 10. TSX.V: PRB Typical High-Grade Cross Section 10 BORDEN GOLD – TYPICAL CROSS SECTION Intervals are thickest and highest-grade at the core of the lens in cross-section Typical cross-section through the high-grade zone showing thickening and strengthening of mineralized Intervals at the core
  • 11. TSX.V: PRB 11 3D Block Model BORDEN GOLD – BLOCK MODEL Parameters & Assumptions June 2014 Metres of Drilling in Block Model Over 224,000 Number of Assayed Meters Over 168,000 Long Term Gold Price (US$) $1,300 Currency Exchange Rate (Cdn$/US$) 1.11 Specific Gravity (SG), Avg. Mineralized Zone 2.78 Capping 100 g/t Block Model & Interpolation Software Datamine Interpolation Method Ordinary Kriging Block Sizes (m x m x m) 5 x 5 x 5 Underground Cut-off Grade U/G (g/t) 2.5 (Processing + G&A) Cdn$/tonne U/G $22.80 Mining Cdn$/tonne U/G $50.00 Process Recovery 92% Open Pit Cut-off Grade O/P (g/t) 0.5 (Processing + G&A) Cdn$/tonne O/P $17.37 Avg. Mining Cdn$/tonne O/P $2.20 Assumed O/P Slope Angle 48 Process Recovery Variable O/P Strip Ratio 5.3 : 1 (Waste Tonnes Per Resource Tonne) Continuity of the high-grade zone provides developmental flexibility
  • 12. TSX.V: PRB Mineral Resources by Category 12 BORDEN GOLD – MINERAL RESOURCES BY CATEGORY Indicated Inferred 0  99% of the Open Pit-Constrained Resource is in the Indicated Category  79% of the Underground Constrained Resource is in the Indicated Category
  • 13. TSX.V: PRB 13 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 Statement, Snowden Mining Industry Consultants Inc. 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 6
  • 14. TSX.V: PRB 14 Chapleau Area Property Land acquisition is a priority for 2014 BORDEN GOLD - MAP
  • 15. TSX.V: PRB • Over 400 square km of unexplored ground within the Borden and associated Belts • High potential for new discoveries 15 LAND POSITION Potential for New Discoveries
  • 16. TSX.V: PRB Advancing Borden Gold Discovery in 2010 Infrastructure NI 43-101 Resource Estimate (4) Size Grade Advanced Metallurgy Environmental Baselines Study Community Support Mining Team Strong Treasury  High-Grade Infill Drill Results  Land Acquisition  Preliminary Economic Assessment (PEA)  Advanced Exploration  Regional Exploration 16
  • 17. 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 David Palmer President & Chief Executive Officer Yves Dessureault Chief Operating Officer Patrick Langlois Vice President, Corporate Development Building Ontario’s Newest Gold District