Core Viewpoint - Probe Gold Inc. has entered into a definitive purchase agreement to acquire a 100% interest in the Bermont Claims for a total consideration of $3.0 million, enhancing its exploration potential adjacent to the Monique Gold Deposit [2][10][18] Transaction Details - The acquisition involves the issuance of common shares valued at $1,500,000 and a cash payment of $1,500,000, along with a milestone payment of $1,500,000 contingent on a mineral resource calculation report confirming at least 1,000,000 ounces of gold [2][11] - Jadmine retains a 3.5% net smelter return royalty on the Property, with 2.5% available for purchase by Probe for $2,500,000 [2] Property Overview - The Bermont Claims are strategically located adjacent to the Monique Deposit, which has resources of 3.56 million ounces measured and indicated and 0.68 million ounces inferred [12] - The Property spans 10 contiguous claims and is part of the Novador Development Project, which has a total land package of 835 square kilometers in the Val-d'Or East area of Quebec [4][10] Exploration Potential - Historical drilling from 1945 to 2011 has identified high-grade gold zones, with significant intercepts reported, including up to 30.9 g/t Au over 1.6 meters [8][9] - The Property has strong potential for additional high-grade gold mineralization and new discoveries, with limited modern exploration conducted [9][10] Future Plans - The company plans to initiate exploration and resource expansion drilling programs on the Property in 2025 [9][10][18] - The acquisition is expected to enhance the exploration potential at Monique by 30% and expand the available surface area for operational infrastructure [18]

Strategic Acquisition - Probe Gold Inc. has entered into a definitive purchase agreement to acquire a 100% interest in the Stella Property, which is strategically located between its Croinor and Megiscane properties [2][3] - The Stella Property hosts the high-grade Lacoma gold zone, discovered in 1925, and spans 52 contiguous claims covering a total of 2,987 hectares [2][5] Exploration Potential - The Lacoma gold zone is situated along the Manneville Fault, which also hosts the McKenzie Break gold resource of 1.45 million ounces in the inferred category, located approximately 55 km to the northwest [2][3] - The property has strong potential for additional high-grade gold mineralization, with significant upside for new discoveries due to limited previous exploration [1][3] Financial Details - The acquisition will be made for consideration of 149,066 common shares of Probe Gold, valued at $250,000 based on the 15-day volume weighted average price [4] - The transaction is subject to regulatory approvals and customary closing conditions, with a hold period of four months and one day for the shares issued [4] Company Growth and Strategy - The acquisition aligns with Probe's strategy of consolidating the underexplored Val-d'Or East region, enhancing the exploration potential of its Novador Development Project [3] - Following the acquisition, Probe's total land package in Val-d'Or will expand to 832 square kilometers, solidifying its position as a leading explorer in the area [3][9] Historical Context - The Stella Property has a historical background dating back to 1925, with previous exploration activities including surface drilling and the establishment of underground levels by Lacoma Gold Mines Ltd. [5][6] - Recent exploration efforts in 2011 included 23 drill holes near the historical Lacoma shaft, indicating the potential for further mineralization [7]

Core Insights - Probe Gold Inc. has significantly increased its gold resources at the Novador project, reporting 6,728,600 ounces in Measured and Indicated (M&I) and 3,277,100 ounces in Inferred resources, nearly doubling from the previous year [1][5][20] - The updated Preliminary Economic Assessment (PEA) for the Novador project indicates an average annual production of 255,000 ounces over a 12.6-year mine life, with an after-tax Net Present Value (NPV) of C$910 million and an Internal Rate of Return (IRR) of 24.4% at a gold price of US$1,750 per ounce [1][4][5] - The company is advancing its permitting process at both federal and provincial levels, having received impact study guidelines, which brings it closer to project approval [1][8] 2024 Achievements - The total gold resources increased to 6,728,600 ounces in M&I and 3,277,100 ounces in Inferred, marking a 77% increase in M&I resources and a 131% increase in Inferred resources compared to 2023 [1][5][6] - The updated PEA supports a robust economic model with a projected average cash cost of US$841 per ounce and an average All-In Sustaining Cost (AISC) of US$1,038 per ounce [5][6] - The company has a strong balance sheet with over $25 million in cash and short-term investments at year-end [1] Plans for 2025 - A 50,000-metre infill drill program is currently underway to support a pre-feasibility study, with plans to increase the number of drill rigs from four to eight during the winter drilling season [2][14] - The completion of biological and physical environment baseline studies and consultations with First Nations and local stakeholders are part of the 2025 plans [2][14] - Exploration programs will focus on resource expansion and new discoveries at Novador satellite deposits and regional projects at Detour and La Peltrie [2][15] Development and Exploration Strategy - The company aims to accelerate permitting work, complete the pre-feasibility study, and target larger, higher-grade resources on newly acquired properties [4][13] - The Novador project is positioned as one of the largest undeveloped gold deposits globally, with significant exploration upside remaining [4][17] - Recent acquisitions, including the McKenzie and Beaufor properties, have added over 2 million ounces of gold to the resource estimate, enhancing the company's development model [1][11][12]