Dr. David Palmer reports

PROBE GOLD ANNOUNCES $30 MILLION BOUGHT DEAL PRIVATE PLACEMENT

Probe Gold Inc. has entered into an agreement with Canaccord Genuity Corp., Beacon Securities Ltd. and Scotiabank on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 4.63 million common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)) at a price of $3.24 per flow-through share for gross proceeds of $15,001,200, and 8.25 million common shares of the company at a price of $1.82 per common share for gross proceeds of $15,015,000 for aggregate gross proceeds of $30,016,200.

In connection with the offering, the company has granted the underwriters an option, exercisable, in whole or in part, by the co-lead underwriters, upon notice to the company at any time up to 48 hours prior to the closing date (as defined below) to purchase that number of additional flow-through shares at the flow-through issue price and/or common shares at the common share issue price for additional aggregate gross proceeds of up to $4,502,430.

The company will use an amount equal to gross proceeds from the sale of the flow-through shares to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) and, in respect of Quebec resident subscribers who are eligible individuals, will qualify for inclusion in the exploration base relating to certain Quebec surface mining or oil and gas exploration expenses and the exploration base relating to certain Quebec exploration expenses of the company, as such terms are defined in the Taxation Act (Quebec), in relation to the company's properties located in Quebec, Canada, on or before Dec. 31, 2026. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2025.

The company intends to use the proceeds of the offering to advance its Novador gold project and explore its Quebec properties, as well as for working capital. The offering is expected to close on or about April 9, 2025, and is subject to the company receiving all necessary regulatory approvals.

The offered securities will be offered by way of private placement pursuant to applicable exemptions from prospectus requirements in each of the provinces of Canada, in the United States pursuant to private placement exemptions, and in such other jurisdictions as may be mutually agreed between the company and the co-lead underwriters. The securities issued under the offering will be subject to a four-month hold period under applicable Canadian securities laws.

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 controls a large land package of approximately 1,835 square kilometres of exploration ground within some of the most prolific gold belts in Quebec. The company's recent Novador updated preliminary economic assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life.

Val d'Or properties include gold resources totalling 6,728,600 ounces in the measured and indicated category, and 3,277,100 ounces in the inferred category, along all trends and deposits.

We seek Safe Harbor.