Dr. David Palmer reports

PROBE GOLD FILES PEA UPDATE TECHNICAL REPORT FOR THE NOVADOR PROJECT, QUEBEC

Probe Gold Inc. has filed the independent preliminary economic assessment technical report which has been prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) on its 100-per-cent-owned Novador project, located in Val d'Or, Que.

The Novador PEA supports a robust mining plan that averages over 255,000 ounces per year of gold production, with over 281,000 ounces per year in the first five years of the 12.6-year mine life, and boasts an impressive after-tax net present value of $910-million using a base-case gold price of $1,750 (U.S.) per ounce. The technical report, entitled "Novador Project, NI 43-101 Technical Report & Preliminary Economic Assessment," and dated March 26, 2024 (effective date of Feb. 13, 2024), is available on SEDAR+ under the company's issuer profile and on the company's website under the technical reports tab.

The independent technical report was prepared through the collaboration of the following firms: Ausenco Engineering Canada ULC, Moose Mountain Technical Services, InnovExplo Inc. and Lamont Inc.

The scientific and technical content of this press release has been reviewed, prepared and approved by Yves Dessureault, PEng, chief operating officer of Probe Gold, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Probe Gold's news release dated Feb. 13, 2024 (titled "Probe Gold Announces Updated PEA For Novador Project, Quebec; 23% Increase In Average Annual Production To 255,000 Ounces, Pre-Tax NPV5% Of C$1.53 Billion, And Pre-Tax IRR Of 34.4%"), summarized the key results, assumptions and estimates contained in the Novador PEA.

About Probe Gold Inc.

Probe Gold is a leading Canadian company focused on the acquisition, exploration and development of highly prospective gold properties. The company is well financed and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100 per cent of its flagship asset, the multimillion-ounce Novador gold project in Quebec, as well as an early-stage Detour gold Quebec project. Probe Gold controls a large land package of approximately 1,685 square kilometres of exploration ground within some of the most prolific gold belts in Quebec.

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