Dr. David Palmer reports

PROBE GOLD INTERSECTS 3.8 G/T AU OVER 24.4 METRES IN EXPANSION DRILLING AT THE MONIQUE DEPOSIT, NOVADOR PROJECT, QUEBEC

Probe Gold Inc. has released the first set of results from the 2023 Monique deposit drill program on its 100-per-cent-owned Novador property, located near Val d'Or, Que. Results from 37 drill holes, totalling 10,772 metres, have returned significant gold intercepts from surface to 425 metres vertical depth at the Monique gold zones (see an attached table). The 2023 winter drill program at Monique was focused on increasing the resource inside and just under the conceptual pit shell. New results continue to show growth at the Monique deposit and strong expansion potential in all directions.

Dr. David Palmer, president and chief executive officer of Probe, stated: "Earlier this year, Monique exceeded our expectations by adding over a million ounces of gold to our inventory, growing to a total of 2.4 million ounces. With these results from the 2023 Monique expansion program the potential for ongoing growth from this deposit are, once again, being highlighted and suggest further upside to future mining operations. An updated PEA [preliminary economic assessment] is currently in progress for the Novador project, which will offer a more-comprehensive representation of the project's expansion and progress towards a larger production scale. We are also planning to increase our drilling capacity in order to realize the growth potential of Monique and advance the Novador project even more quickly. Work has also begun on our recently acquired Croinor project to begin evaluating potential resource growth on this property, as well. Detour is progressing quickly after delays due to wildfires, with over 2,500 m drilled so far on our La Peltrie option and 100-per-cent-owned properties. It has already been an extremely productive year for our projects, and we look forward to continuing this pace in the second half of 2023."

All 37 holes drilled to identify or confirm in-pit mineralization returned gold intercepts over 0.42 gram per tonne gold, which is above the cut-off grade used in the 2023 pit-constrained resource estimate. Twenty-five holes returned gold intercepts with grade times thickness above 10.0 g/t Au. Gold mineralization intersected is mainly associated with deformation zones that cross the deposit with an orientation of 280 degrees to 300 degrees and a 75-degree-to-80-degree dip to the north. Gold mineralization is defined by a network of quartz/carbonate/albite plus or minus tourmaline veins and veinlets with disseminated pyrite in the altered wallrocks.

Selected drill results from the 2023 Monique deposit drilling program are provided in an attached table.

Qualified person

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 assurance/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, including the 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 material. Repeats were carried out by fire assay followed by gravimetric testing on each sample containing three g/t gold or more. Total gold analyses (metallic sieve) were carried out on the samples that presented a great variation of their gold contents or the presence of visible gold.

About Probe Gold Inc.

Probe Gold is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The company is well financed and dedicated to the exploration and development of high-quality gold projects, notably its 100-per-cent-owned, flagship asset, the multimillion-ounce Novador gold project in Quebec. Probe controls a large land package of approximately 1,600 square kilometres of exploration ground within some of the most prolific gold belts in Quebec.

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