Corporate Presentation

1. UNLOCKING
VALUE
IN VAL-D’OR
TSX-V: PRB
WELL-FUNDED CANADIAN GOLD EXPLORER
Corporate Presentation
Precious Metals Summit 2019, Beaver Creek

2. FORWARD LOOKING STATEMENTS
2
Forward Looking Information
This presentation may include certain “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included
herein, including, without limitation, statements regarding future plans and objectives of Probe Metals Inc. (“the Company”), future opportunities and anticipated goals, the company’s portfolio,
treasury, management team, timetable to permitting and production and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions,
estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”,
“budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain
actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is subject to known and unknown risks, including but not limited to: an
inability to complete the business combination; general business, economic, competitive, geopolitical and social uncertainties; delays in obtaining or failures to obtain required governmental,
regulatory, environmental or other required approval; the actual results of current exploration activities; acquisition risks; and other risks of the mining and resource industry. Although the Company
has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to
be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company are based on information currently available to the
Company. The Company do not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in
those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation
should not be unduly relied upon by investors as actual results may vary. Unless required to be updated pursuant to securities laws, these statements speak only as of the date of this presentation
and are expressly qualified, in their entirety, by this cautionary statement.
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 Val
d’Or East Property dated August 28, 2019. Technical and scientific information not contained within the Report and contained in this Presentation has been reviewed and approved by Independent
Qualified Person Merouane Rachidi, Ph. D., P.Geo and Calude Duplessis., from GoldMinds Geoservices, who are the independent “qualified person” under NI 43-101. The Technical Report will be
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 any part 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. GOLD EXPLORER UNLOCKING VALUE
Focused on the UNDER-EXPLORED VAL-D’OR EAST DISTRICT in Quebec
▷ 334 km2 district-scale land consolidation within one of Canada's leading gold mining camps
MORE THAN DOUBLED the gold resource in 2019
▷ 3.2 Moz of total resource with majority on its 100% owned property
▷ Attractive upside potential with existing gold resource and exploration targets
in Canada
3
STRONG BALANCE SHEET with over $25mm in cash and investments
STRATEGIC INVESTOR Newmont Goldcorp, senior gold producer
MANAGEMENT TEAM with PROVEN TRACK RECORD of delivering shareholder value
▷ Team includes CEO David Palmer, former President and CEO of Probe Mines, sold to Goldcorp for $526 mm in
2015, and Chairman Jamie Sokalsky, former CEO of Barrick Gold
Project located in a MINING FRIENDLY JURISDICTION with good access to INFRASTRUCTURE
▷ Proximity to road, electricity, regional airport, railroad

4. CAPITAL STRUCTURE
and Financial Information
PROBE METALS INC.
Market capitalization $164 million
Shares outstanding (basic) 110.6 million
Shares outstanding (fully diluted) 127.7 million
Cash and Investments ~$25 million
52 week trading range $1.53 - $0.91
Recent Price (05/09/19) $1.48
TOP SHAREHOLDERS
Newmont Goldcorp
(~14%)
Caisse de dépôt et
placement du Québec
AGF Investments Libra Advisors Kingsley Advisors Windermere Capital
Van Eck U.S. Global Investors BMO Asset Management GAM Holding AG
Fonds de solidarité
FTQ
SIDEX
Management and Directors (~6%)
4
ANALYST COVERAGE
Canaccord Genuity Tom Gallo
Cormark Securities Tyron Breytenbach
Industrial Alliance Securities George Topping
Mackie Research Capital Stuart McDougall
Sprott Capital Partners Brock Salier
BMO Capital Markets Andrew Mikitchook

5. UNLOCKING VALUE
in the Abitibi Gold Belt
5
ABITIBI
Greenstone
Belt
200M
Au oz
Produced
30M
Au oz
Reserves

6. VAL-D’OR EAST PROJECT
District-Scale Exploration Opportunity
6
Probe is
one of the LARGEST
LANDHOLDERS
IN VAL-D'OR
▷ Good access and
infrastructure: Proximity
to road, electricity,
Val-d’Or, regional airport,
railroad
▷ Quebec: mining friendly
jurisdictions
▷ Four past-producing mine
trends on the project
▷ Strategic land position
ABITIBI GREENSTONE BELT
Val-d’Or Camp ~40 Moz Au Production

7. VAL-D’OR EAST PROJECT
Mineral Resource Summary – September 2019*
7
*Mineral Resources Statement, GeoMinds Geoservices
**Measured and Indicated
Val-d’Or East Property (100% Interest)*
Val-d’Or East Optioned Properties (option to earn 60% interest)*
ALL DEPOSITS /
CATEGORY
PIT-CONSTRAINED RESOURCES UNDERGROUND RESOURCES TOTAL
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
M&I** 13,511 100 1.69 733,100 1,060,700 3.91 133,200 14,571,800 1.85 866,300
Inferred 22,680,350 1.44 1,049,200 6,060,172 3.49 679,600 28,740,522 1.87 1,728,800
DEPOSIT / CATEGORY
PIT-CONSTRAINED RESOURCES UNDERGROUND RESOURCES TOTAL
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Probe 60% inferred
Monique
3,349,890 1.71 184,172 2,125,990 3.11 212,626 5,475,880 2.25 396,799
Probe 60% inferred
Sleepy
- - - 1,113,180 4.70 167,856 1,113,180 4.70 167,856

8. VAL-D’OR EAST PROJECT
Multiple Satellite Pits Feedings a Central Mill
8
ABITIBI GREENSTONE BELT
Val-d’Or Camp ~40 Moz Au
Production
▷ Project reaching a
threshold for consideration
of development scenarios
▷ Deposits in close proximity
could support a conceptual
central mill
▷ All deposits accessible by
road and well connected
▷ Four past-producing mine
trends on the project, good
mining infrastructure
▷ Strategic land position
Senore Highway
Lapaska
New Beliveau
North
Monique
SoutheastSouthwest
Creek
Bussière West
CONCEPTUAL CENTRAL MILL
Sleepy

9. VAL-D’OR EAST PROJECT
3D View Pascalis and Courvan Gold Trends Looking Southeast
9
Highway
M&I: 37,328 oz @ 1.39 Au g/t
Inf: 62,990 oz @ 1.63 Au g/t
New Beliveau
M&I: 778,969 oz @ 1.89 Au g/t
Inf: 705,813 oz @ 2.03 Au g/t
North
M&I: 50,035 oz @ 1.65 Au g/t
Inf: 115,257 oz @ 1.58 Au g/t
Southeast
Inf: 53,068 oz @ 1.40 Au g/t
Southwest
Inf: 193,252 oz @ 1.78 Au g/t
Creek
Inf: 307,064 oz @ 1.93 Au g/t
Bussière West
Inf: 185,370 oz @ 1.70 Au g/t
Courvan Gold Trend
Pascalis Gold Trend
N

10. PARALLEL GOLD TRENDS
10
▷ High-grade Open-pit with
Significant Underground
Potential
▷ Ongoing drill program confirms
the continuity of gold
mineralization and the expansion
potential of the New Beliveau
deposit
▷ Recent discoveries indicate
extensive gold mineralized system
that generated at least two
significant gold trends
Courvan
Gold Trend Pascalis
Gold Trend

11. REGIONAL EXPLORATION SUCCESS
11
▷ Ongoing 45,000-metre drill program expanding
the current gold resources and the discovery of
new gold deposits within the regional land
holdings. Continuous drill program since 2016
▷ New 3D Geophysical surveys in-progress to
locate additional parallel trends and new gold
deposits in regional land package
▷ New Geochemical surveys in-progress to prioritize
areas and geophysical targets for drilling
▷ Four past-producing mine trends with very little
historical work in surrounding area. Ideal situation
for potential new discoveries
Courvan
Gold Trend Pascalis
Gold Trend

12. NEXT STEPS
12
▷ Ongoing environmental baseline and engineering
studies to de-risk the project
▷ Commence mining studies for main resource deposits
and find the best integrated approach
▷ Expand metallurgical studies to confirm responses
from various deposits and build optimum flow sheet
▷ Evaluate various project development permutations
and find the highest NPV scenarios to pursue
▷ Drill program focused on resource expansion
and new discoveries
▷ Ongoing 3D IP survey to test for parallel trends,
extensions to the known mineralized system
and new satellite deposits
▷ Expand project stakeholders consultation
Focussed on project catalysts: economics/development scenarios,
resource growth, new discoveries

13. 682
866770
722
2239
2012 2018 2019
WHY INVEST IN PROBE METALS
VDE project has Multi-Million Ounce Potential
M&I Resources (koz)Inferred Resources (koz)
13
EXPANSION POTENTIAL, significant
resource growth in both 2018 and 2019
Still open in all directions
Depth potential remains to be tested
Low discovery cost approx.
$10 PER OUNCE

14. 293
137
86 84 82
51 49 48 41
24
0
50
100
150
200
250
300
350
WHY INVEST IN PROBE METALS
Company Osisko Gold Standard Pure Gold Bonterra Sabina Gold Nighthawk Marathon Barkerville Probe Metals Eastmain
Key asset location Canada USA Canada Canada Canada Canada Canada Canada Canada Canada
Stage PEA Resource Feasibility Resource Resource Resource PEA PEA Resource PEA
Peer Average: $67
14
▷ Probe is significantly undervalued relative to peers based on current resource
▷ EV/Resource of $41 /oz versus peer average of $67/oz
*Thomson Reuters and Company presentations
Probe is Significantly Undervalued Relative to Peers*

15. WHY INVEST IN PROBE METALS
15
Resource size of 3.2 mm Oz of gold positioning the VDE project as one of the top undeveloped
projects in the Val d’Or area, Canada
Probe has Strong Fundamentals
Location in a mining friendly jurisdiction with good access to infrastructure
Management with a proven track record of adding shareholder value
Strong Balance Sheet with $25 million in cash and investments
Strategic Investor in Newmont Goldcorp, senior gold producer
Upside potential with existing resources and regional exploration

16. DEPOSIT /
CATEGORY
PIT-CONSTRAINED RESOURCES UNDERGROUND RESOURCES TOTAL
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
New Beliveau Deposit – Pascalis Gold Trend
Measured 5,230,400 2.01 338,346 382,687 4.00 49,228 5,613,087 2.15 387,573
Indicated 6,632,150 1.52 324,176 547,495 3.82 67,219 7,179,645 1.70 391,396
Mes & Ind 11,862,550 1.74 662,522 930,182 3.89 116,447 12,792,732 1.89 778,969
Inferred 8,485,400 1.49 406,496 2,336,418 3.98 299,317 10,821,818 2.03 705,813
North Deposit – Pascalis Gold Trend
Measured 90,650 1.30 3,802 _ _ _ 90,650 1.30 3,802
Indicated 745,500 1.32 31,682 107,806 4.20 14,551 853,306 1.69 46,233
Mes & Ind 836,150 1.32 35,483 107,806 4.20 14,551 943,956 1.65 50,035
Inferred 1,895,950 1.27 77,367 373,237 3.16 37,891 2,269,187 1.58 115,257
Highway Deposit – Pascalis Gold Trend
Measured 233,800 1.44 10,788 _ _ _ 233,800 1.44 10,788
Indicated 578,550 1.31 24,341 22,756 3.00 2,197 601,306 1.37 26,538
Mes & Ind 812,350 1.35 35,131 22,756 3.00 2,197 835,106 1.39 37,328
Inferred 875,350 1.10 31,006 323,341 3.08 31,984 1,198,691 1.63 62,990
APPENDIX – VAL-D’OR EAST PROJECT
16
Pascalis Gold Trend - Detailed Resources September 2019
* Mineral Resources Statement, GeoMinds Geoservices

17. DEPOSIT /
CATEGORY
PIT-CONSTRAINED RESOURCES UNDERGROUND RESOURCES TOTAL
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Tonnes
Grade
(Au g/t)
Gold
(oz.)
Southwest Deposit – Courvan Gold Trend
Inferred 2,583,350 1.38 114,661 791,456 3.09 78,591 3,374 806 1.78 193,252
Southeast Deposit – Courvan Gold Trend
Inferred 1,125,250 1.35 48,707 50,501 2.69 4,361 1,175,751 1.40 53,068
Bussiere Deposit – Courvan Gold Trend
Inferred 2,882,250 1.53 141,708 511,358 2.66 43,662 3,393,608 1.70 185,370
Creek Deposit – Courvan Gold Trend
Inferred 3,771,600 1.43 173,647 1,176,109 3.53 133,417 4,947,709 1.93 307,064
Senore Deposit – Courvan Gold Trend
Inferred 548,800 1.78 31,402 37,951 2.68 3,272 586,751 1.84 34,674
Lapaska Deposit
Inferred 512,400 1.47 24,194 459,799 3.19 47,151 972,199 2.28 71,345
Monique Deposit (option to earn 60%)
Inferred 5,583,150 1.71 306,954 3,543,317 3.11 354,377 9,126,467 2.25 661,331
APPENDIX – VAL-D’OR EAST PROJECT
17
Courvan Gold Trend and Lapaska - Detailed Resources September 2019
* Mineral Resources Statement, GeoMinds Geoservices

18. APPENDIX – VAL-D’OR EAST PROJECT
18
Detailed Resources February 2018
DEPOSIT /
CATEGORY
OPEN PIT-CONSTRAINED UNDERGROUND TOTAL
Tonnes
(metric)
Grade
(Au g/t)
Gold
(oz.)
Tonnes
(metric)
Grade
(Au g/t)
Gold
(oz.)
Tonnes
(metric)
Grade
(Au g/t)
Gold
(oz.)
BELIVEAU DEPOSIT
Indicated 6,284,000 2.29 463,600 1,226,700 3.46 136,400 7,510,700 2.48 600,000
Inferred 3,114,100 1.57 156,700 3,101,600 3.76 374,800 6,215,700 2.66 531,500
NORTH DEPOSIT
Indicated 805,700 1.49 38,700 32,000 2.62 2,700 837,700 1.54 41,400
Inferred 1,516,000 1.39 68,000 304,000 3.16 30,900 1,820,000 1.69 98,900
HIGHWAY DEPOSIT
Indicated 620,600 1.68 33,600 67,200 3.43 7,400 687,800 1.85 41,000
Inferred 523,200 1.08 18,100 225,600 3.32 24,100 748,800 1.75 42,200
SOUTH DEPOSIT
Indicated – – – – – – – – –
Inferred 106,200 1.35 4,600 413,200 3.38 44,900 519,400 2.97 49,500
* Mineral Resources Statement, GeoPointCom

19. DAVID PALMER
President, Chief Executive Officer and Director
APPENDIX – MANAGEMENT AND BOARD
MARCO GAGNON
Executive Vice President
and Director
YVES DESSUREAULT
Chief Operating Officer
PATRICK LANGLOIS
Vice President, Corporate Development
▷ Former President and CEO of Adventure
Gold (2007 to 2016)
▷ Has over 25 years of experience in Project
Acquisition, Exploration and Mine
Development
▷ Former President and CEO of Probe Mines (2003
to 2015)
▷ 2015: PDAC Bill Dennis Award for a Canadian
Mineral Discovery
▷ 2015: Northern Miner Mining Person of the Year
▷ 2014: Prospector of the Year, Ontario
▷ Former COO of Probe Mines
(2014-2015)
▷ Has over 25 years of experience in
Operations, Project Evaluation and
Mine Development
▷ Former Vice President of Probe
Mines (2012 to 2015)
▷ Has over 15 years of experience in
Corporate Development, Venture
Capital and Investment Banking
19
Track Record of Delivering Shareholder Value
JAMIE SOKALSKY
Chairman
▷ Currently, Director of Agnico Eagle Mines
and Royal Gold
▷ Former President and CEO
of Barrick Gold Corporation (2012-2014)
▷ Former CFO of Barrick Gold Corporation
(1999 to 2012)
GORD MCCREARY
Director
▷ Former Director of Probe Mines
(2012 to 2015)
▷ Former CEO of Newcastle Gold
and Baffinland Iron Mines
▷ Founding Officer of
Kinross Gold
▷ Former Director of Probe Mines (2001 to
2015)
▷ Founder of Peterson
McVicar LLP
▷ Has 20 years of experience
as a corporate securities lawyer
DENNIS PETERSON
Director
BASIL HAYMANN
Director
▷ Former Director of Probe Mines
(2013 to 2015)
▷ Entrepreneur, currently
Chairman of FabriTec
Structures LLC

20. UNLOCKING
VALUE
IN VAL-D’OR
TSX-V: PRB
WELL-FUNDED CANADIAN GOLD EXPLORER
THANK YOU