Probe Gold Inc T.PRB

Probe Gold Significant Growth in Val-d’Or Gold Resources

[Betteryear2]

TORONTO, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Probe Gold Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce the release of the Updated Mineral Resource Estimate (the “MRE”) for its Val-d’Or properties (the “Properties”) in Quebec that incorporates results from the 2023 and 2024 drilling programs. The updated estimates include close to 95,000 metres of new drilling completed by Probe on its 100 % owned Novador and Croinor properties, and close to 75,000 metres drilling completed by Monarch Mining Corporation prior to Probe’s acquisition of the Beaufor and McKenzie Break properties, since their last respective MRE. Total gold resources currently stand at 6,728,600 ounces in the Measured and Indicated (“M&I”) category and 3,277,100 ounces in the Inferred category along all trends and deposits. Integrating new drilling and an enhanced 3D geological model, the MRE has shown significant improvement in both expansion and conversion over the previous resource estimate and all the gold deposits remain open laterally and at depth. The new Novador resource, which comprises the Monique, Pascalis and Courvan mine trends including the recently acquired Beaufor deposit, stands at 6,405,000 ounces of gold in the M&I and 1,550,200 ounces of gold in the Inferred category, demonstrating a significant global increase for the overall mining development project, an excellent conversion rate from Inferred to Indicated resources and strong potential for future growth in the scale of mining operations and mine life, which currently stands at over 250,000 ounces/year of average annual production and 12.5 year mine life (see Updated PEA, January 2024). This updated aggregate MRE was independently prepared by InnovExplo Inc. and BBA E&C Inc. in accordance with National Instrument 43-101 (“NI 43-101”) and is dated August 30, 2024.

Probe Gold Reports Significant Growth in Val-d’Or Gold (globenewswire.com)