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TSX: PRB
ADVANCING
NOVADOR
WELL-FUNDED CANADIAN GOLD EXPLORER
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 Gold 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
The technical and scientific information contained herein relating to the Novador (Former Val-d’Or East) Project is derived from National Instrument 43-101 (“NI 43-101”) compliant
technical reports (“Reports”). The Reports are available on SEDAR at www.SEDAR.com under the Company’s issuer profile and on Probe Gold website at www.probegold.com. The
2023 Novador Mineral Resource Estimates were independently prepared by InnovExplo Inc. and are dated January 16, 2023, and July 13, 2023. A Preliminary Economic Assessment
report has been prepared by Ausenco Engineering Canada Inc ULC in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and is dated
February 12, 2024. Ausenco was appointed as lead consultant in August 2023 to prepare the updated PEA in accordance with NI 43-101 and was assisted by Moose Mountain
Technical Services for the mine design. The independent PEA was prepared through the collaboration of the following firms: Ausenco Engineering Canada ULC (Ausenco), Moose
Mountain Technical Services (MMTS), InnovExplo, Knight Piésold Ltd. (KP), Richelieu Hydrogéologie Inc., Lamont Inc. and Rock Engineering Consulting Services. These firms
provided mineral resource estimates, design parameters and cost estimates for mine operations, process facilities, major equipment selection, rock and tailings storage, reclamation,
permitting, as well as operating and capital expenditures. 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 prefeasibility studies, or economic studies, except for a
Preliminary Economic 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 reader is advised that the Preliminary Economic Assessment summarized in this presentation is intended to provide only an initial, high-level review of the project
potential and design options.
Currency
Unless otherwise indicated, all dollar values herein are in Canadian $.
2023 Highlights
Corporate
Growth
Development
Milestones
Exploration
Growth
Updated Val-d’Or resource:
Total inventory of 3.8Moz M&I, 1.4Moz
Inferred category (28% increase from 2021)
Graduation to TSX Exchange
Name change and new website
Kicked-off Federal permitting: Filed
Initial Project Description
Sustainability Initiatives:
• ESG report
• ECOLOGO certification
• 85,600m of drilling completed on all deposits
• Strong drill results from all deposits
• Acquired Croinor property
• Completed 6,500m of expansion drilling
on Croinor
• New gold zones discovered at
Courvan, grading up To 6.2 g/t Au
over 13.0m (Cut)
• Thick zones intersected at Courvan
expansion drilling
2024 Achievements to date
Corporate
Development
Milestones
Exploration
Completed Beaufor and McKenzie
Break property acquisition
Detailed Project Description submitted
Expanded Cu-Au-Ag-Mo mineralized
system on La Peltrie option property,
Detour Quebec
Jan 23
Added new board member with
strong technical background
PEA update - 23% increase in average annual
production to 255,000 ounces, post-tax NPV5%
of C$910 Million, and post-tax IRR Of 24.4%
Apr 23
Feb 13
Apr 13
Mar 28
May 15
May 28
Ms. Shannon McCrae - Our New Director
• Ms. Shannon McCrae is a seasoned professional geologist and
executive with more than 25 years of experience in the resource
industry.
• Her expertise spans from early-stage exploration to mine sites
across multiple commodities, leading to significant economic
discoveries and innovative advancements.
• Recently, she has been actively engaged in mining and
exploration activities through her company, Athena Geoscience,
and serves as a Board member of Atacama Copper and Vox
Royalty. She was previously a board member of Boart Longyear
before it was acquired by American Industrial Partners.
• Prior to her current roles, she held the position of Director of
Exploration and Growth at Barrick Gold, where she was a key
member of the senior Global Exploration and Growth team until
2019.
• Ms. McCrae has also held senior positions with De Beers
Canada and served as Vice President of Business Development
at Novamera.
Novador PEA1 - Summary
6
1Preliminary Economic Assessment, Ausenco Engineering Canada Inc. – February 13, 2024, News Release
(February 2024)1,2 2024
(C$)
2021
(C$)
After-Tax NPV (5%) $910M $598M
Annual Gold Production 255,000 207,000
After-Tax IRR 24.4% 32.8%
Initial Capital $602M $353M
LOM Average AISC*/oz US$1038 US$965
Mine Life 12.6 years 12.5 years
Throughput – Mill and Leach (tpd) 15,500 10,000
Recovery 95.7% 94.7%
Gold Price US$1,750 US$1,500
2024 Summary
▷ Increased production profile
(+250Koz/y) – on the path to
300Koz/y
▷ Increase in NPV (now at
$910M)
▷ Built Confidence in resource
(77% in M&I (2021 – 44%)
7
District-scale project in a mining friendly
jurisdiction with road, rail and
hydroelectric power
Strategic Land Position in a World Class Mining District
Val-d’Or, Quebec
McKenzie Break – Regional Geology
20 kilometres North of the Novador project
▷ Existing resource of
~400,000 ounces on the
property
▷ Underexplored with
tremendous upside
potential
▷ +40,000m of drilling
already completed that
can go into the resource
update
MRE 2021: 146,000 @3.2 g/t Au
in M&I category and 250,593
@3.1 g/t Au in INF category
▷ Existing high-grade resource of
~ 228,000 ounces on the
property with potential to
expand
▷ Underexplored with tremendous
upside potential
▷ 6,500m drilling program
completed in 2023
Fall 2023, 6,500m drilling program
9
Croinor Property– Regional Geology
60 kilometres East of the Novador project
Beaufor Property
Regional map with showings, drill holes, MAG and geology (under)
▷ Completes acquisition of the
Courvan mine trend
▷ Underexplored with
tremendous upside potential
▷ Acquired existing turnkey
infrastructure on the
property
2024 Strategy
Push permitting timeline
• Start permitting process at the
provincial level
• Start of the year 2 biological
environment baseline inventories
Regional exploration programs on new
properties to determine exploration
potential
Corporate
Growth
Development
Milestones
Exploration
Growth
Updated mineral resource update to show
growth in ounces and expansion potential
Thank You

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AGM Presentation Probe June 11 Final.pdf

  • 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 Gold 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 The technical and scientific information contained herein relating to the Novador (Former Val-d’Or East) Project is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports (“Reports”). The Reports are available on SEDAR at www.SEDAR.com under the Company’s issuer profile and on Probe Gold website at www.probegold.com. The 2023 Novador Mineral Resource Estimates were independently prepared by InnovExplo Inc. and are dated January 16, 2023, and July 13, 2023. A Preliminary Economic Assessment report has been prepared by Ausenco Engineering Canada Inc ULC in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and is dated February 12, 2024. Ausenco was appointed as lead consultant in August 2023 to prepare the updated PEA in accordance with NI 43-101 and was assisted by Moose Mountain Technical Services for the mine design. The independent PEA was prepared through the collaboration of the following firms: Ausenco Engineering Canada ULC (Ausenco), Moose Mountain Technical Services (MMTS), InnovExplo, Knight Piésold Ltd. (KP), Richelieu Hydrogéologie Inc., Lamont Inc. and Rock Engineering Consulting Services. These firms provided mineral resource estimates, design parameters and cost estimates for mine operations, process facilities, major equipment selection, rock and tailings storage, reclamation, permitting, as well as operating and capital expenditures. 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 prefeasibility studies, or economic studies, except for a Preliminary Economic 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 reader is advised that the Preliminary Economic Assessment summarized in this presentation is intended to provide only an initial, high-level review of the project potential and design options. Currency Unless otherwise indicated, all dollar values herein are in Canadian $.
  • 3. 2023 Highlights Corporate Growth Development Milestones Exploration Growth Updated Val-d’Or resource: Total inventory of 3.8Moz M&I, 1.4Moz Inferred category (28% increase from 2021) Graduation to TSX Exchange Name change and new website Kicked-off Federal permitting: Filed Initial Project Description Sustainability Initiatives: • ESG report • ECOLOGO certification • 85,600m of drilling completed on all deposits • Strong drill results from all deposits • Acquired Croinor property • Completed 6,500m of expansion drilling on Croinor
  • 4. • New gold zones discovered at Courvan, grading up To 6.2 g/t Au over 13.0m (Cut) • Thick zones intersected at Courvan expansion drilling 2024 Achievements to date Corporate Development Milestones Exploration Completed Beaufor and McKenzie Break property acquisition Detailed Project Description submitted Expanded Cu-Au-Ag-Mo mineralized system on La Peltrie option property, Detour Quebec Jan 23 Added new board member with strong technical background PEA update - 23% increase in average annual production to 255,000 ounces, post-tax NPV5% of C$910 Million, and post-tax IRR Of 24.4% Apr 23 Feb 13 Apr 13 Mar 28 May 15 May 28
  • 5. Ms. Shannon McCrae - Our New Director • Ms. Shannon McCrae is a seasoned professional geologist and executive with more than 25 years of experience in the resource industry. • Her expertise spans from early-stage exploration to mine sites across multiple commodities, leading to significant economic discoveries and innovative advancements. • Recently, she has been actively engaged in mining and exploration activities through her company, Athena Geoscience, and serves as a Board member of Atacama Copper and Vox Royalty. She was previously a board member of Boart Longyear before it was acquired by American Industrial Partners. • Prior to her current roles, she held the position of Director of Exploration and Growth at Barrick Gold, where she was a key member of the senior Global Exploration and Growth team until 2019. • Ms. McCrae has also held senior positions with De Beers Canada and served as Vice President of Business Development at Novamera.
  • 6. Novador PEA1 - Summary 6 1Preliminary Economic Assessment, Ausenco Engineering Canada Inc. – February 13, 2024, News Release (February 2024)1,2 2024 (C$) 2021 (C$) After-Tax NPV (5%) $910M $598M Annual Gold Production 255,000 207,000 After-Tax IRR 24.4% 32.8% Initial Capital $602M $353M LOM Average AISC*/oz US$1038 US$965 Mine Life 12.6 years 12.5 years Throughput – Mill and Leach (tpd) 15,500 10,000 Recovery 95.7% 94.7% Gold Price US$1,750 US$1,500 2024 Summary ▷ Increased production profile (+250Koz/y) – on the path to 300Koz/y ▷ Increase in NPV (now at $910M) ▷ Built Confidence in resource (77% in M&I (2021 – 44%)
  • 7. 7 District-scale project in a mining friendly jurisdiction with road, rail and hydroelectric power Strategic Land Position in a World Class Mining District Val-d’Or, Quebec
  • 8. McKenzie Break – Regional Geology 20 kilometres North of the Novador project ▷ Existing resource of ~400,000 ounces on the property ▷ Underexplored with tremendous upside potential ▷ +40,000m of drilling already completed that can go into the resource update MRE 2021: 146,000 @3.2 g/t Au in M&I category and 250,593 @3.1 g/t Au in INF category
  • 9. ▷ Existing high-grade resource of ~ 228,000 ounces on the property with potential to expand ▷ Underexplored with tremendous upside potential ▷ 6,500m drilling program completed in 2023 Fall 2023, 6,500m drilling program 9 Croinor Property– Regional Geology 60 kilometres East of the Novador project
  • 10. Beaufor Property Regional map with showings, drill holes, MAG and geology (under) ▷ Completes acquisition of the Courvan mine trend ▷ Underexplored with tremendous upside potential ▷ Acquired existing turnkey infrastructure on the property
  • 11. 2024 Strategy Push permitting timeline • Start permitting process at the provincial level • Start of the year 2 biological environment baseline inventories Regional exploration programs on new properties to determine exploration potential Corporate Growth Development Milestones Exploration Growth Updated mineral resource update to show growth in ounces and expansion potential