Dr. David Palmer reports

PROBE GOLD INTERSECTS UP TO 1.17% COPPER OVER 9.5M AND EXPANDS THE CU-AU-AG-MO MINERALIZED SYSTEM ON THE MIDLAND EXPLORATION INC, LA PELTRIE OPTION PROPERTY, DETOUR QUEBEC

Probe Gold Inc., under an option agreement with Midland Exploration Inc., has provided new results from its 2023 drilling program completed on the La Peltrie project. The drilling campaign, consisting of 2,683 metres in eight holes and one extension hole, was a follow-up program to Probe's 2022 drilling, which discovered base metal mineralization on the La Peltrie option property. The 2022 discovery hole, LAP-22-12, graded 0.13 per cent copper (Cu) over 345.5 metres (see press release by Probe dated Dec. 6, 2022). The 2023 follow-up drilling campaign was successful in demonstrating both continuity of the Cu-Au-Ag-Mo (copper-gold-silver-molybdenum) system and the presence of higher-grade mineralization. Results are presented in the table entitled "Selected drill results from 2023 La Peltrie drilling program."

David Palmer, president and chief executive officer of Probe, states: "The 2023 exploration program at La Peltrie was very successful in not only delineating a large, copper-rich, base-metal system, but also higher-grade zones within that system that could significantly enhance project value. The results were also useful in adding to our geological understanding of the area and identifying new high-priority areas proximal to the discovery zone. We are currently planning our 2024 drilling program, which will focus on further expanding the system, defining these new, higher-grade zones, and testing parallel structures and horizons."

The 2023 drill program on the La Peltrie option property tested the continuity of the Cu-Au-Ag-Mo mineralization along strike of the 2022 discovery in LAP-22-012. The drilling program was completed in September, 2023, and consisted of eight drill holes totalling 2,683 metres, including five drill holes totalling 1,713.0 metres in the immediate vicinity of the Cu-Au-Mo-Ag discovery and three holes testing new targets. During the program, the original discovery hole, LAP-22-12, which ended still in mineralization, was also deepened by 168 metres and extended the zone to 513.5 metres of 0.13 per cent Cu (core length).

Drill hole LAP-23-18, drilled to the north, approximately 150 metres east of drill hole LAP-22-12, intersected a wide Cu-Au-Mo-Ag-mineralized interval grading 0.11 per cent Cu over 363 metres, including a high-grade zone with grades of 1.17 per cent Cu over 9.5 metres.

Drill hole LAP-23-19, drilled to the north, approximately 250 metres north of hole LAP-23-12, returned an interval grading 0.17 per cent Cu over 15.2 metres and another grading 0.09 per cent Cu over 17 metres.

Drill hole LAP-23-20, drilled to the south, approximately 350 metres northeast of drill hole LAP-23-18, yielded a wide interval grading 0.09 per cent Cu over 400.2 metres, including an interval grading 0.50 per cent Cu over 13.2 metres.

Drill hole LAP-23-21, drilled to the south, approximately 250 metres northeast of hole LAP-23-18, returned an interval grading 0.16 per cent Cu over 22 metres and another grading 0.12 per cent Cu over 66 metres.

A preliminary interpretation of results received to date suggests that combined Cu-Au-Mo-Ag grades tend to increase from east to west. This indicates a potential vector of enrichment west of drill hole LAP-22-12_EXT, in an area that has not been tested. Base metal mineralization is associated with a massive to pillowed, fine-grained basalt unit. The basalt is carbonatized and pillow selvages have strong chlorite and epidote alteration. The volcanic unit is crosscut by centimetre (cm)-scale quartz veins with blocky potassium feldspar within the veins and strong potassic epidote alteration halos. Local hydrothermal breccia zones have strong albite and silica-altered angular clasts in a quartz/carbonate matrix. Quartz veining and brecciated zones host up to 25 per cent sulphides as veinlets and blebby intergrowths of chalcopyrite and pyrrhotite.

Based on these results, the company is currently preparing an exploration program in order to resume follow-up drilling on this new discovery.

Probe's Detour Quebec project

The discovery-stage project covers an area of 777 square kilometres along the Detour gold trend, and includes the La Peltrie property option, the Gaudet-Fenelon JV (joint venture) property, and the wholly owned Detour Quebec Main and North properties. The property is located 190 kilometres north of Rouyn-Noranda and 40 kilometres northwest of the town of Matagami, Que., and hosts the Sunday Lake, Massicotte and Lower Detour Lake gold deformation zones. Both the La Petrie option and Gaudet-Fenelon JV properties are in partnership with Midland Exploration. The project is located along the lateral extensions of Canada's second-largest gold mine at Detour Lake, operated by Agnico Eagle Mines Ltd., and proximal to recent high-grade gold discoveries in Zone 58N (Agnico), Fenelon/Tabasco (Wallbridge), Area 51 (Wallbridge) and Martiniere/Bug Lake (Wallbridge).

Qualified person

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

Quality control

During the 2023 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 (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 grams per tonne 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. Samples had additional analysis completed using 35-multielement geochemical package by four-acid digestion, followed by inductively couple plasma mass spectrometry (ICP-MS) finish.

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 Gold controls a large land package of approximately 1,600 square kilometres of exploration ground within some of the most prolific gold belts in Quebec.

We seek Safe Harbor.