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Message: Probe Metals Begins Winter Drilling Program at Val-d'Or East, Quebec

 

2019-02-05 06:29:51 AM ET (GlobeNewswire)
   
   

Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce that it has begun its winter drilling program at the Val-d'Or East project. The winter exploration program, which will include approximately 24,000 metres of drilling, is focused on expanding the Company's current gold resources, testing new targets and extending the coverage of regional exploration. New drill targets will include 1.5km of unexplored ground between the Beliveau and Courvan gold zones as well as the Monique and Cadillac Break East areas. There are presently four drills operating at the project. In addition to drilling, the winter programs will also include geophysical surveys that will broaden the scope of the Company's regional exploration.

David Palmer, President and CEO of Probe, states: "With a strong treasury going into 2019, Probe's primary goal is to continue advancing Val-d'Or East in order to establish it as one of the leading projects that works in any foreseeable gold price environment. From the work completed to date, our confidence is growing in the project and we see a clear path forward to development."

The updated mineral resource estimate for Val-d'Or East project is expected in Q1-2019.

The Val-d'Or East Project

Since 2016, Probe Metals has been consolidating its land position in the highly prospective Val-d'Or East area of Quebec. The Val-d'Or East project is a district-scale land package comprising 327 square kilometers and now represents the largest land holding in the Val-d'Or mining camp. The property is host to three past producing mines (Beliveau Mine, Bussiere Mine and Monique Mine) and falls along four regional mine trends, including 14 kilometres of strike length along the prolific Cadillac Break. Val-d'Or East is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills.

The land package includes the New Beliveau deposit, which together with the Highway, North and South Zones, host a NI 43-101 resource of 682,400 ounces Indicated at 2.35 g/t gold and 722,100 ounces Inferred at 2.41 g/t gold.

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P.Geo, Executive Vice President, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Probe Metals:

Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d'Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp in March 2015. Goldcorp currently owns approximately 13.7% of the Company.

On behalf of Probe Metals Inc.,

Dr. David Palmer,

President & Chief Executive Officer

For further information:

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

Seema Sindwani

Director of Investor Relations

[email protected]

+1.416.777.9467

Forward-Looking Statements

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