Probe Gold Enhances Monique Gold Deposit with Strategic Acquisition

Probe Gold Inc., a leading Canadian gold exploration and development company, has announced the acquisition of adjacent property claims to its Monique gold deposit near Val-d'Or, Quebec. This strategic acquisition promises a lateral extension potential of the Monique deposit by 750 meters, which currently comprises 3.56 million ounces measured and indicated, and 0.68 million ounces inferred over a strike length of 2,500 meters. Known for its high-grade gold zones, the newly acquired property houses the Bermont and Adelemont gold areas, which have previously undergone limited drilling. Despite the lack of modern exploration, this area shows significant potential for new high-grade gold mineralizations. An expansion and exploration drill program is set for 2025, aiming to bolster resource estimation by up to 30% at Monique. The acquisition deal is valued at $3 million, with the payment structure split between shares and cash. Furthermore, a milestone payment of $1.5 million is contingent upon proving a resource estimate exceeding one million ounces. Additionally, a 3.5% royalty on net smelter returns is retained by the vendor, with options for Probe to purchase part of it. The company anticipates the deal closing in the coming weeks, pending necessary regulatory and Toronto Stock Exchange approvals. Probe's project Novador, encompassing 205 square kilometers, now stands as one of the largest land holdings in the Val-d'Or mining camp. Featuring a solid mining plan, it will position Probe as a significant player in the mining region.