Dr. David Palmer reports

PROBE GOLD INTERSECTS 6.4 G/T AU (CUT) OVER 18.3 METRES AT THE MONIQUE DEPOSIT, NOVADOR PROJECT, QUEBEC

Probe Gold Inc. has released the third set of results from the 2023 Monique drill program on its 100-per-cent-owned Novador property near Val d'Or, Que. The results from 25 drill holes, totalling 9,940 metres, reveal significant high-grade mineralized intersections along strike, at depth and inside the modelled Monique gold zones from surface to a depth of 450 metres. The new results show impressive gold grades and thicknesses, continuing to demonstrate growth and strong continuity of gold mineralization at the Monique deposit. The Monique gold trend zones remain open along strike and at depth.

Dr. David Palmer, president and chief executive officer of Probe, states: "Our 2023 Monique expansion program continues to emphasize both the substantial potential for ongoing expansion and the enhancement of the development project as we generate additional ounces within the existing conceptual pit shell. We have accelerated our expansion drilling program this year in anticipation of an updated resource in the latter half of 2024, and we are also progressing rapidly on our updated PEA, slated for release in the first quarter of 2024. These pivotal milestones for 2024 will significantly elevate the value of our project by showcasing both current production growth in the new PEA and future production expansion in the updated resource. Beyond Novador, we are actively advancing several other strategic assets to unlock value for our shareholders, including Detour, Croinor and our Casa Berardi trend properties, where work programs are in progress or have recently been completed and results are pending. We are in the enviable position of being able to advance our projects and build value as we approach the new year, and brighter prospects, ahead."

Twenty expansion and infill holes drilled to identify or confirm in-pit mineralization returned gold intercepts over 0.42 gram per tonne Au, which is above the cut-off grade used in the current pit-constrained resource estimate. Seventeen of these holes returned gold intercepts with a grade times thickness above 10 g/t Au. Five exploration holes drilled south of the conceptual pit intersected interesting parallel structures in which two holes returned low-grade gold value.

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 wall rocks.

Selected drill results from the 2023 Monique deposit drilling program are as noted herein.

About Probe's Novador project

Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val d'Or East area in the province of Quebec with a district-scale land package of 600 square kilometres that represents one of the largest landholdings in the Val d'Or mining camp. The Novador project is a subset of properties totalling 175 square kilometres hosting three past-producing mines (Beliveau mine, Bussiere mine and Monique mine) and falls along three regional mine trends. Novador is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills.

Val d'Or properties include gold resources totalling 3,793,900 ounces in the measured and indicated category and 1,418,700 ounces in the inferred category along all trends and deposits.

Qualified person

The scientific and technical content of this press release has been prepared, reviewed 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 QA/QC 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 three 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 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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