1. Borden Discovery Outcrop
Building Ontario’s Newest
Gold District
TSX.V: PRB
FEBRUARY 2014
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.
2. 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.
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3. Investment Highlights
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 1.0km 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
$33.4 million at October 31st, 2013
Well funded to continue de-risking through engineering and permitting
Completed a $15 million financing in May 2013, Agnico Eagle owns 9.9% of Probe Mines’
issued and outstanding shares on a non-diluted basis
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
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4. Strong Management Team
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 20 years in the Mining Industry
Michael Petrina, MBA, P.Eng.
Chief Operating Officer
Over 25 years of experience in Operations, Engineering & 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
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5. Corporate Summary
Probe Mines Limited
Listed Exchange
Market capitalization
Symbol: PRB
Toronto Venture
$247.5 million
Analyst Coverage
BMO Capital Markets
Cormark Securities
John Hayes
Tyron Breytenbach
Shares outstanding (basic)
75.7 million
Edgecrest Capital
Shares outstanding (fully diluted)
88.1 million
Jennings Capital
Peter Campbell
$33.4 million
Mackie Research
Barry Allan
Cash Balance (10/31/13)
Debt
52 week trading range
Recent Price (02/18/14)
None
$1.10 - $2.89
$3.27
Macquarie Capital Markets
MGI Securities
Ali Khan
Pierre Vaillancourt
Marc Pais
Institutional / Strategic Investors:
Agnico Eagle, Macquarie, Sprott,
US Global, AGF, Sentry, Goodman,
Fidelity, BMO, Seamans, etc.
Management & Directors
David Sadowski
RBC Capital Markets
Major Shareholders
Raymond James
Sam Crittenden
Holdings (I&O)
~ 50%
6%
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6. 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
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
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7. New Gold District
BORDEN GOLD – REGIONAL GEOLOGY-LOCATION
• Close to numerous
mining districts
Chapleau Area Infrastructure
• 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
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8. High-Grade Gold Zone Expanding
BORDEN GOLD – DRILL PLAN
Since discovery:
586 drill holes
completed,
representing over
200,000 metres
2013 program:
218 drill holes for
~84,000 metres
2014 winter
program:
Focussed on
expansion
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9. High-Grade Continuity in the Southeast
Hole
Section
BL13-358
900m SE
including
950m SE
1000m SE
including
1050m SE
including
1100m SE
including
1200m SE
including
1250m SE
including
1300m SE
including
1500m SE
including
1600m SE
including
1700m SE
including
1800m SE
including
1850m SE
including
including
1900m SE
including
2000m SE
including
BL14-582
BL14-583
BL14-584
BL13-421
BL12-256
BL13-399
BL13-420
BL13-455
BL13-562
BL13-378
BL13-402
BL14-573
BL13-403
BL13-554
Width
(m)
Gold
(g/t)
36.5
11.7
30.1
39.5
16.0
34.8
12.6
29.4
6.5
51.0
25.0
26.1
17.7
47.0
8.0
44.4
14.3
42.9
8.8
25.0
12.9
27.1
9.2
39.0
19.4
8.4
39.0
13.0
35.0
20.0
4.5
11.5
3.5
7.0
12.4
5.1
11.4
5.9
15.3
10.3
17.8
8.5
12.0
6.8
32.7
4.0
11.1
4.9
17.2
4.6
7.4
6.4
11.1
16.3
31.6
66.3
5.0
11.2
4.0
6.5
Consistent Zonation within the high-grade zone
Over 145 drill holes completed in the high-grade zone,
between section 1000mSE to 2000mSE, representing over
65,000 metres of drilling
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10. Potential for New Discoveries
LAND POSITION
• Over 350 square
km of unexplored
ground within the
Borden and
associated Belts
• High potential for
new discoveries
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12. Borden Gold - Resource, January 2013
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
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
*Mineral Resources Statement, P&E Mining Consultants Inc.
Discovery Cost < US$4/oz
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13. Advancing Borden Gold
Discovery in 2010
Infrastructure
NI 43-101 Resource Estimate (3)
Size
Grade
Advanced metallurgy
Mining team
Strong treasury
Expansion of the high-grade zone
Land acquisition
Updated NI 43-101 Resource Estimate
Preliminary Economic Assessment (PEA)
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14. Contact Information
David Palmer, Ph.D., P.Geo.
President and CEO
Patrick Langlois, MBA, CFA
Vice President, Corporate Development
Head Office
56 Temperance Street, Suite 1000
Toronto, Ontario
M5H 3V5
Tel:
Fax:
Email:
Website:
(416) 777-6703
(416) 777-6705
info@probemines.com
www.probemines.com
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