Dr. David Palmer reports

PROBE GOLD DELINEATES ADDITIONAL HIGH-GRADE GOLD MINERALIZATION AT THE MONIQUE DEPOSIT, NOVADOR PROJECT, QUEBEC

Probe Gold Inc. has released the second set of results from the 2023 Monique drill program on its 100-per-cent-owned Novador property, located near Val d'Or, Que. Results from 40 drill holes, totalling 12,950 metres, have returned significant gold intercepts from surface to a depth of 400 metres at the Monique gold zones (see an attached table). The 2023 drill program primarily focused on expanding the resource both inside and beneath the conceptual pit shell used in the current mineral resource estimate. This is achieved by targeting areas in the extension of the known gold zones characterized by higher grades and thicknesses. The new results continue to demonstrate growth and strong continuity of gold mineralization at the Monique deposit.

Dr. David Palmer, president and chief executive officer of Probe, stated: "Once again, the results from the 2023 Monique expansion program underscore not only the tremendous upside for continued growth at this deposit, but also the improvement of the development project as we add ounces within the current conceptual pit shell. We are in the process of ramping up our expansion drilling program in anticipation of an updated resource in the second half of 2024, and we are currently under way on our updated PEA [preliminary economic assessment] expected in the first quarter of 2024. These two major milestones for 2024 will add considerable value to our project by demonstrating both current production growth in the new PEA and future production growth in the updated resource. In addition to Novador, we also have a number of other strategic assets that we are advancing to unlock value for our shareholders, including Detour, Croinor and our Casa Berardi trend properties. This year has proven to be highly productive for our projects, and we anticipate maintaining this momentum throughout the remainder of the year and into next."

All 40 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 current pit-constrained resource estimate. Twenty-seven holes returned gold intercepts with a grade times thickness above 10.0 g/t Au. Gold mineralization intersected is mainly associated with deformation zones that cross the deposit at an orientation of 280 degrees to 300 degrees and a 75-degree-to-80-degree dip to the north. This gold mineralization is defined by a network of quartz/carbonate/albite plus or minus tourmaline veins and veinlets, along 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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