2. 2
Forward Looking Statements
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 July 14, 2021. 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 Claude Duplessis., from GoldMinds Geoservices, and Alain-Jean Beautregard, P.Geo and Daniel
Gaudreault, P. Eng. from Geologica Groupe-Counseil Inc which all are Qualified Person” as such term is defined in NI 43-101., The Technical Report is available on SEDAR at
www.SEDAR.com under the Company’s profile. The 2023 Monique Resource The 2023 Monique resource estimate was independently prepared by InnovExplo Inc. in accordance with
National Instrument 43-101 (“NI 43-101”) and is dated January 16, 2023. The presentation has been reviewed by Marina Lund, P.Geo. and Simon Boudreau, P.Eng., both from
InnovExplo Inc. who are the independent and qualified persons (QPs) for the mineral resource estimate, as defined by NI 43-101. The effective date is January 16, 2023. 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. The PEA has been prepared by Tomasso Roberto Raponi, P.Eng. from Ausenco,
Jesse Aarsen, P.Eng. from MMTS and Merouane Rachidi, Ph.D. P.Geo., from Goldminds who are “Qualified Persons”, and are considered to be independent of Probe consultants for the
purposes of section 1.5 of NI 43-101, and all of whom have reviewed the information that is summarized from the PEA in their areas of expertise.
Currency
Unless otherwise indicated, all dollar values herein are in Canadian $.
3. 2023 Q2 Update – Pascalis and Courvan Drill Results
Active news flow for Q2
• New Pascalis and
Courvan drill results
from 2022 program
• 2023 exploration
programs underway
• New Board member
• AGM results
3
AGM Voting results
2022 Courvan Drill Results
2022 Courvan Drill Results
2022 Pascalis Drill Results
New Board Member
2022 Pascalis Drill Results
4. 2023 Q2 Update – NOVADOR Gold Project, Val-d’Or
Development
Q2 ACHIEVEMENTS
PFS
Ø Final Metallurgical Report Received – Confirms strong metallurgical recovery for PFS
Ø Rock mechanics/Geotechnical Studies – continuing to progress, better definition of
pit slopes
Ø Permitting – Received feedback from Impact Assessment Agency of Canada on first
draft.
NEXT QUARTER
Ø Submit second draft of Initial Project Description to the Impact Assessment Agency
of Canada
Ø Stakeholder consultation to continue
Ø ESG – First ESG report; consultation process continuing
4
Exploration
Q2 ACHIEVEMENTS
Pascalis Drill results (Final 2022 drilling results released)
Ø Infill drilling – excellent continuity in mineralization
Ø 2.4 g/t Au over 59.0 m; 8.2 g/t Au over 10.9 m and 3.2 g/t Au over 20.7 m
Ø Expansion drilling – intersected high-grade gold zones
Ø 5.6 g/t Au over 19.0 m and 1.8 g/t Au over 33.0 m
Courvan Drill results (Final 2022 drilling results released)
Ø Infill drilling – large gold zones inside conceptual pit
Ø 9.2 g/t Au over 11.2 m; 1.1 g/t Au over 113.0 m and 2.3 g/t Au over 37.6 m
Ø Expansion drilling – intersected significant intervals
Ø 9.2 g/t Au over 17.9 m; 15.0 g/t Au over 5.8 m and 2.7 g/t Au over 32.5 m
Drill Update – minimal impact of Wildfires in Quebec (June 2023)
Ø Expansion drilling – 40,100 metres completed - visual results encouraging
Ø Exploration Drilling – 7,100 metres completed - visual results encouraging
NEXT QUARTER
Ø Announce Updated Resource Estimates for Novador, including new
resources for Pascalis and Courvan Deposits
Ø Continue Expansion Drilling program with one (1) drill on
Monique/Pascalis/Courvan (~10,000m).
Ø Continued Exploration Drilling with one (1) drill on new gold targets – at
least three (3) new targets to be drilled (~10,000m).
Ø Commence geochemical & geophysical programs to define new
Exploration targets
Ø 2023 Drill Results on Expansion and Exploration programs
5. 2023 Q2 Update Detour Quebec
5
Q2 ACHIEVEMENTS
Au Au
Au
Cu
Ø Start the 7,500m summer drill program (two drills)
NEXT QUARTER
Exploration
Ø Detour (Western and Central areas 100% Probe owned)
Ø Completed ground geophysical surveys on two new targets in preparation for summer drilling program – Numerous targets in both new areas, selected drill
targets to be tested in summer drill program
Ø Modeling of 2022 drill results on Zone 58 structure for follow-up drilling program – new structural model, better understanding and numerous new targets
for drill testing in summer drill program
Ø Drilling postponed for at least 2 weeks due to Wildfires – monitoring the situation, expected start-up in July and completion by September
Ø Detour La Peltrie (Midland option)
Ø Prospected the new La Peltrie Cu-Ag-Au-Mo
discovery – expanding target area
Ø Drilling postponed for at least 2 weeks due to
Wildfires – monitoring the situation
Ø Detour Gaudet-Fenelon JV
Ø 20km-line of IP completed – new targets identified
6. Gold is an effective way to hedge risks like inflation
1. Gold has historically
performed well in periods of
financial turmoil
2. Gold is scarce resource and
has maintained its worth for
thousand of years
3. Gold has helped manage the
risks that other financial assets
bring; playing a key role in a
more balanced and stable
portfolio
6
