Dr. David Palmer reports

PROBE METALS ANNOUNCES A $14 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF FLOW-THROUGH UNITS AND NON FLOW-THROUGH UNITS

Probe Metals Inc. has entered into an agreement with Sprott Capital Partners, a division of Sprott Private Wealth LP, on behalf of a syndicate of underwriters, whereby the underwriters have agreed to purchase, on a bought deal private placement basis, $14-million of securities of the company. The offering consists of a combination of flow-through (FT) units of the company at a price of $1.90 per FT unit and non-flow-through units of the company at a price of $1.15 per hard unit. The company has agreed to incur and renounce in favour of the subscribers for the FT units Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) in an amount equal to the subscription price for the FT units.

Each FT unit or hard unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company for two years from the closing of the offering at a price of $1.45.

The company has also granted the underwriters an option to purchase up to an additional $2.1-million of flow-through units and/or hard units, in such proportion as the underwriters may determine, exercisable at any time prior to or within 30 days after closing, to cover overallotments, if any, and for market stabilization purposes.

The gross proceeds from the offering will be used to finance exploration on Probe's projects in Quebec and for working capital purposes.

The offering will be effected by way of a private placement to qualified investors in such provinces of Canada as the underwriters may designate and otherwise in those jurisdictions where the offering can lawfully be made. The securities to be issued under the offering will have a hold period of four months and one day from closing.

Closing is expected to occur on or about June 19, 2018, and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. In consideration for their services, the underwriters will receive a cash commission equal to 6 per cent of the gross proceeds of the offering.

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 in Quebec.

We seek Safe Harbor.