Nice to see the total move over 4 million ounces.  

39 holes still outstanding, drilling in progress, PEA still on track for Q3.

All good for those who can be patient.  This will be bought out at a multiple of today's price, just need to sit back and wait.

Probe Metals Announces Filing of NI 43-101 Technical Report on the Val-d’Or East Project, Quebec; Additional Ounces Captured in Resource

Toronto, July 15, 2021 – PROBE METALS INC. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce the filing of a technical report for its Val-d’Or East project (the “Report“) entitled, “NI 43-101 Technical Report for the Val-d’Or East Project, Abitibi Greenstone Belt, Quebec, Canada”. The Report dated July 14th , prepared in accordance with National Instrument 43-101 (“NI 43-101”) is available for review on both SEDAR (www.sedar.com) and the Company’s website (www.probemetals.com).

The Resource Estimate, which is the subject of the NI 43-101 Report, forms the basis of the Project’s upcoming Preliminary Economic Assessment (“PEA”).  Upon further review of underground resource shapes the PEA and Resource consultants, Ausenco Engineering Canada Inc. (“Ausenco”)  (PEA) and GoldMinds Geoservices (Resource Estimate), have identified additional gold resources that could potentially be extracted in a mining scenario.  As a result, the Estimated Resource in the underground resource shapes has increased by 131,700 ounces and the total resource (open pit and underground) now stands at 1,800,900 ounces of gold in the Measured & Indicated category (“M&I”) and 2,309,600 ounces of gold in the inferred category.

Yves Dessureault, Probe’s COO, states “We are very pleased with the progress of both the Updated Resource Estimate and the upcoming PEA. Our holistic approach to project design and open communication between our consultants has resulted in an increase of the gold resources, and potentially minable ounces, and an overall improvement of the project.  We are making very good progress on the PEA and are looking forward to its release in Q3.”     

The Report was prepared by Merouane Rachidi, Ph.D., P.Geo. and Claude Duplessis, P.Eng., from GoldMinds Geoservices, and Alain-Jean Beauregard, P.Geo and Daniel Gaudreault, P. Eng. from Geologica Groupe-Conseil Inc which all are “Qualified Person” as such term is defined in NI 43-101. The Report supports the scientific and technical disclosure in the updated mineral resources contained in the Company's press release dated June 1st, 2021. The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P. Geo, Executive Vice President of Probe, who is a “Qualified Person” under NI 43-101.

Val-d’Or East Project - Summary of Mineral Resources 
The Val-d’Or East Project includes the properties on the Pascalis Gold Trend, the Monique Gold Trend and the Courvan Gold Trend, which are 100% owned by Probe. 

Table 1: Val-d’Or East Property (100% interest)

As part of its land consolidation strategy for the Val-d’Or East project, Probe earned a 60% interest in the Cadillac Break East Property in joint venture with O3 Mining Inc., which includes the Sleepy deposit. The Company also owns a 100%-interest in the Val-d’Or East Lapaska and Senore properties.

Table 2: Val-d’Or East Other Properties

The Company has demonstrated with a series of performance tests that the ore sorting technology works very well with the type of mineralization found on the Val-d’Or East project. By applying ore sorting to mineralized waste with very conservative gold recoveries additional mineral material may be extracted from the mineralized waste and thus become additional mineral resource on the Project.
 
Table 3: Val-d’Or East Project – Additional Pit Constrained Resource from Ore Sorting

Notes:
1    This additional pit-constrained Mineral Resource represents low grade material between a cut-off of 0.25g/t and the cut-off grade of 0.40 or 0.42g/t Au of the pit-constrained Mineral Resource from Table 1. This lower cut-off was based on the following parameters: ore sorting cost $2.00/t, Gold recovery in the ore sorting process 75% with an overall gold recovery with gravity and leaching at 68%, mass recovery in the ore sorting process 40%.

The following table presents the detailed gold resources for each of the trends/deposits that comprise the Val-d’Or East Project:

Table 4: Val-d’Or East Project – Detailed Resources