From GlobeNewswire: 2024-11-11 06:30:00

Probe Gold Inc. has started a 50,000-meter infill drill program at Novador to convert resources for the upcoming pre-feasibility study. 10,115 meters of infill drilling completed at Monique and Courvan, with plans to deploy up to 8 drill rigs for winter. Pre-feasibility study expected to be completed by end of 2025.

The infill drilling program at Novador aims to upgrade 100% of inferred resources to indicated category for the PFS. 72% of resource already in indicated category. 150 drillholes for 50,000 meters planned. Comprehensive engineering, environmental, and social studies conducted for PFS, to be completed by end of 2025.

David Palmer, President and CEO of Probe, highlights goal of converting inferred resources to indicated category for PFS by late 2025. Strong treasury to advance Novador project development. Permitting progress, resource growth, and mine-plan improvements increase confidence in project potential. Clear path forward for development.

Probe Gold’s Novador Project in Quebec has 685 square kilometers of land, including Novador block with four past producing mines. 80% of gold resources in Val-d’Or East. Project has 6,728,600 ounces in Measured and Indicated category and 3,277,100 ounces in Inferred category.

Probe Gold Inc., focused on gold properties, owns 100% of Novador Gold Project in Quebec. Company controls 1685-square-kilometers of exploration ground in Quebec. Novador project has updated Preliminary Economic Assessment with average annual gold production of 255,000 ounces over 12.6 years.

For further information, visit Probe Gold’s website or contact Seema Sindwani, Vice-President of Investor Relations. Forward-looking statements in news release outline future plans, objectives, and goals. Risks, uncertainties, and factors could impact actual results. Company aims to update or revise forward-looking information as required by law.



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