Probe Gold Advances Environmental Permitting for Novador Project: Submits Detailed Project Description

Highlights:

• Probe Gold has submitted the Detailed Project Description ("DPD") for the Novador project to the Impact Assessment Agency of Canada ("IAAC"), marking a significant advancement in the federal environmental permitting process.
• This submission follows the Initial Project Description ("IPD") sent to the IAAC in October 2023.

TORONTO, May 15, 2024 -- Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce the official submission of the Detailed Project Description (DPD) for the Novador project to the Impact Assessment Agency of Canada (IAAC), the federal body accountable to the Minister of Environment and Climate Change. This follows the submission of the Initial Project Description (IPD) in October last year and marks another major step towards the Impact Assessment ("IA") process, which is required under Canadian law for the advancement of a mining project towards construction and production.

David Palmer, President and CEO of Probe, states "The submission of the Detailed Project Description marks another key milestone for the Novador project, signifying the advancement towards environmental permitting. Canada's robust regulatory framework facilitates the construction and operation of mines that adhere to the highest environmental and social standards globally, and we take pride in being part of this process. We continue to engage stakeholders to gather their input, ensuring that our future operations align with environmental and social expectations. The DPD underscores our commitment to continuous consultation, integrating meaningful input from diverse stakeholders to maximize benefits for Canadians while minimizing environmental and community impacts."

Yves Dessureault, COO of Probe, states "The progress in the environmental permitting process is the result of a continued effort over the past few years. This preparation included the advancement of environmental baseline studies, which have notably considered the physical and biological environment around the mine site across various seasons. We continue to engage in information and consultation activities with Indigenous Peoples, local communities and organisms to identify key priorities and establish essential working relationships with the federal government and community stakeholders."

The IA will assess changes to the environment, health, social, and economic conditions associated with the Novador project. Since submitting the IPD, IAAC has engaged in early consultations with Indigenous Peoples, government officials, regulatory bodies, community leaders, and the public to gather feedback and identify potential interests. Incorporating the feedback received, the DPD now includes updated information mandated by regulations concerning the designated project, along with details regarding the potential environmental, social, health, and economic impacts of the project.

At the federal level, the initiation of the 'Planning Phase' begins with the submission of the IPD. During this stage, the IAAC contacts Indigenous groups to notify them of a potential project that could impact their rights or interests, inviting them to participate in the planning. Following the submission of the IPD in October last year, the IAAC commenced early consultations with Indigenous Peoples, government officials, regulatory bodies, community leaders, and the public to gather feedback and identify potential interests.

The purpose of the DPD and the Response to the Summary of Issues that were submitted to the IAAC about the Novador Project during the public comment period on the IPD is to outline the current understanding of the Project and enable the IAAC to notice an opinion on whether an impact assessment is required for the project. Building upon the Project information shared in the IPD, updates and additions in the DPD are informed by feedback from the Early Engagement Phase and technical studies conducted to date. The DPD aids in refining Project components and options through the design process, marking the conclusion of the Early Engagement Phase and the commencement of the EA Readiness Decision phase in the coordinated environmental assessment (EA) process.

Probe will work closely with the IAAC throughout the environmental assessment process to ensure the responsible execution of the Novador project. Indigenous groups and all other stakeholders will play an important role in the development of the project, as their active collaboration throughout the development of the project is essential.

About Probe Gold:

Probe Gold Inc. is a leading Canadian company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Québec, as well as an early-stage Detour Gold Quebec project. Probe controls a large land package of approximately 1685-square-kilometres of exploration ground within some of the most prolific gold belts in Québec. 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.

On behalf of Probe Gold Inc.,

Dr. David Palmer,
President & Chief Executive Officer

For further information:

Please visit our website at www.probegold.com or contact:

Seema Sindwani
Vice-President of Investor Relations
info@probegold.com
+1.416.777.9467

Forward-Looking Statements

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