Mr. David Palmer of Probe reports

PROBE METALS INTERSECTS 5.9 G/T GOLD OVER 10.5 METRES ON THE MONIQUE OPTION PROPERTY, VAL-D'OR EAST PROJECT, QUEBEC

Probe Metals Inc. and Monarques Gold Corp. have provided new results from the 2018 drill program on the Val d'Or East Monique option property located near Val d'Or, Que. Results from 14 drill holes, totalling 4,783 metres, were received and showed significant new discoveries northwest of the Former Monique open-pit gold mine and southwest of the A and B gold zones. The company is now preparing for the 2019 winter drill program to follow up on the recent discoveries. Probe may earn a 60-per-cent interest in the property by spending an aggregate of $2-million on exploration before January, 2021 (see news release dated Jan. 17, 2017). Significant drill results are presented in the associated table.

David Palmer, president and chief executive officer of Probe, stated: "The initial results from the regional exploration program are very encouraging, with numerous new gold discoveries being made around the old Monique mine site. It increases our confidence in the exploration potential of the Val d'Or East area and the company's large, consolidated land package. We are now designing an expanded winter drill program that will follow up on these results as well as testing new targets in the area."

Of the 14 holes, seven were designed to test a large underexplored area north, west and northwest of the Former Monique open pit along the mineralized trend. Best assay results were from hole MO-18-03 at 159 m depth (downhole), which returned 24.8 g/t Au over 2.2 metres in a larger interval grading 5.9 g/t Au over 10.5 metres. This hole is located 400 metres northwest of the Monique pit and proximal to the company's 100-per-cent-owned property. Hole MO-18-09 was drilled 200 metres north of the Monique pit and also returned encouraging results with two gold zones intersected at 175 and 373 m depth (downhole) grading, respectively, 20.5 grams per tonne gold over 2.0 metres and 2.1 g/t Au over 7.6 metres. The deepest intercept corresponds to the extension of the in-pit gold mineralization 50 metres to the north and the other intercept is possibly the lateral extension of the new gold structure intersected in hole MO-18-03.

Five holes were drilled to test a weak IP (induced polarization) anomaly located 50 to 200 metres southwest of the historic A and B gold zones, with all returning significant results between the surface and 130 metres depth. Gold mineralization is associated mainly with felsic dikes crosscutting mafic volcanics. Holes MO-10-14, 11 and 10 returned the best intercepts grading, respectively, 3.8 g/t Au over 7.0 metres, 1.1 g/t Au over 41.2 metres and 2.4 g/t Au over 12.8 metres.

The remaining two holes were drilled one kilometre northeast of the Monique pit and tested a lone IP anomaly. Neither hole returned significant gold values.

Mineralization intersected along the Monique gold trend is characterized mainly by sulphide-bearing quartz-carbonate-tourmaline veins and veinlets in mafic to ultramafic rocks or associated with mineralized dioritic or felsic dikes. Gold is generally associated with 1 per cent to 5 per cent finely disseminated pyrite, and visible gold is common. Rock units are generally altered with variable amounts of chlorite, carbonate, sericite and/or silica. Albite and fuschite alteration are locally observed. The orientation of the quartz vein systems is roughly parallel to the stratigraphy and to the deformation zones.

Assay results from selected drill holes are reported in the associated table.

      SELECTED DRILL RESULTS FROM THE MONIQUE OPTION DRILLING PROGRAM (1)  

Hole No.               From              To          Length              Au
                        (m)             (m)             (m)           (g/t)

MO-18-01              125.0           131.0             6.0             2.4
MO-18-02               54.0            62.0             8.0             0.7
MO-18-03              158.5           169.0            10.5             5.9
including             162.8           165.0             2.2            24.8
MO-18-04              360.5           371.0            10.5             2.4
including            363 .0           367.0             4.0             5.0
MO-18-09              175.0           177.0             2.0            20.5
                      373.4           381.0             7.6             2.1
MO-18-10              108.0           120.8            12.8             2.4
including             117.2           119.0             1.8            12.3
MO-18-11               86.0           127.2            41.2             1.1
including              91.0            92.0             1.0            22.1
MO-18-12              123.5           130.7             7.2             1.9
MO-18-14               94.0           101.0             7.0             3.8
                      136.0           145.0             9.0             1.0

(1) All the new analytical results reported in this release and in the 
table are presented in core length and uncut. Additional drilling is 
planned for the immediate area which will enable the true width 
determination.

 

About the Monique property

The Monique property is located 25 km east of Val d'Or, in Quebec, and consists of 17 claims and one mining lease covering a total area of 546 hectares in the Louvicourt township. The property hosts a current inferred mineral resource of 107,500 tonnes at a grade of 4.88 g/t for 16,850 ounces of gold. From 2013 to 2015, the Monique open-pit mine was in operation and a total of 580,000 tonnes of ore were extracted at a grade of 2.5 g/t Au, from the surface to 100 m depth for a total of 45,694 ounces of gold.

Gold mineralization on the Monique property has been identified in 12 zones, which are generally hosted by one of three deformation zones that cross the property from east to west. Gold mineralization is defined by a network of quartz/tourmaline/carbonate veins and veinlets, with associated disseminated sulphides, in the altered wall rocks. Gold is frequently observed in the quartz-tourmaline veins.

Qualified persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Marco Gagnon, PGeo, executive vice-president, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Quality control

During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict quality assurance/quality control program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire assay with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (metallic sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.

About Probe Metals Inc.

Probe Metals is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The company is committed to discovering and developing high-quality gold projects, including its key asset the Val d'Or East gold project, Quebec. The company was formed as a result of the sale of Probe Mines Ltd. to Goldcorp in March, 2015. Goldcorp currently owns approximately 13.7 per cent of the company.

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