Happy New Year! I hope you had a great holiday season.

Our Q4 2023 quarterly update is out. Please see below for the link to the presentation, which outlines our achievements in Q4 2023 year and the outlook for the next quarter. 

https://wp-probegold-2023.s3.ca-central-1.amazonaws.com/media/2024/01/Q4-Quarterly-Update-December-2023-final-1.pdf

Here are the key points:

2023 Q4 update

Exploration – Q4 achievements

Novador Project

• Monique Drill results (October & November 2023)
• Expansion drilling – intersected 26.9 g/t Au over 4.0m (68.1 g/t Au over 4.0m uncut)
• Infill drilling – intersected thick gold zones
• up to 6.4 g/t Au over 18.3m (11.8 g/t Au over 18.3 metres uncut), 3.4 g/t Au over 34.0 m, 3.3g/t Au over 27.9m and 5.4 g/t Au over 9.4m
• 2023 Drill program
• Completed over 73,500 meters of drilling by mid-December 2023 at Novador
• Expansion Drilling – 60,000 metres completed - visual results encouraging
• Exploration Drilling – 13,500 metres completed - visual results encouraging

Croinor

• 6,500m drilling program completed in December - visual results encouraging

Next quarter

• Continue Expansion Drilling program on Novador deposits (~30,000m in Q1)
• Drilling will resume on the first week of January with two drills at Monique and four drills at Courvan
• Continue regional geochemical programs on new Exploration targets on Val-d’Or properties
• Release drill Results from 2023 Expansion and Exploration at Novador

Development – Q4 achievements

Updated PEA

• Finalization of open pit designs and advancement of underground infrastructure and stope designs
• Process plant equipment sizing completed
• Tailings trade-off study completed
• Integration of open pit and underground mine schedule on-going

Permitting – Initial Project Description submitted to the Impact Assessment Agency of Canada to kick-off the official start of the federal permitting process; public consultations held early December; waiting on complete list of comments from the IAAC

Next quarter

• Finalizing opex, capex and financial model
• Release of Updated PEA (Q1 2024)
• Stakeholder consultation to continue
• Continue to advance permitting schedule

Detour Project

Exploration – Q3 achievements

• Detour (Western and Central areas 100% Probe owned)
• Drill program completed (4,900 metres)
• Detour La Peltrie (Midland option)
• Drill program completed (2,700 metres) – Cu-Au-Mo-Ag mineralization intersected

Next quarter

Drill Results from the Exploration program

Cash position: Probe is well-funded for 2024 with $25mm in cash and no debt.

Please don’t hesitate to reach out with your feedback and/or questions.

Thanks, and I look forward to hearing from you.

Seema