Probe Awards Key Engineering Contracts to Advance Novador Project Pre-Feasibility Study

/EIN News/ -- Highlights:

• Ausenco Engineering Canada ULC will lead the Pre-Feasibility Study (PFS) and will be responsible for the process plant design, the supporting infrastructure, overall opex and capex.
• G Mining Services will lead the mining engineering scope of the project including mining opex and capex.
• GHD will lead the scope of the project related to the design of tailings and water management infrastructures.
• Probe has successfully completed a 50,000-metre infill drilling program to support the PFS, which remains on track for completion by year-end 2025.

TORONTO, June 03, 2025 (GLOBE NEWSWIRE) -- PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce that it has awarded all major engineering contracts for project management services related to the Pre-Feasibility Study (“PFS”) of its flagship Novador Project. The PFS is scheduled for completion by the end of 2025.

Ausenco Engineering Canada ULC (“Ausenco”) has been appointed to lead the PFS and will oversee project timelines, milestones, and deliverables. Ausenco will contribute technical expertise across core engineering disciplines, including infrastructure, metallurgy, and processing and will produce a project execution plan with related capex and opex to advance the project towards the future Feasibility Study and permitting.

G Mining Services Inc. (GMS) has been engaged to lead all mining engineering aspects of the PFS. GMS’ scope includes the open pit and underground mining engineering and design, mine planning, mining infrastructure, mining opex and capex, and the development of the mining execution strategy.

GHD has been appointed for all engineering aspects related to tailings and water management infrastructures. GHD is currently producing the physical environment baseline studies, and they will be able to leverage their understanding of the Novador project site and the permitting requirements into their design and the selection of optimum solutions.

David Palmer, President and CEO of Probe Gold, states “With these key contracts in place, Probe is well positioned to advance the Novador Project into its next phase of development and deliver a robust, high-quality Pre-Feasibility Study. By working with global leaders, Ausenco for process infrastructure, G Mining Services for mining engineering, and GHD for water and tailings management, we have strong confidence in the technical quality and scope of the work ahead. These collaborations support our timeline to deliver the PFS by year-end. We see significant potential to enhance the current study and look forward to drawing on the expertise of our consultants throughout the process. At the same time, we are making steady progress on our permitting strategy. With the successful completion of our recent financing, Probe is fully funded to advance through the next stages of regulatory and permitting work, creating meaningful value for our shareholders.”

About Probe's Novador Project
Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val d'Or East area in the province of Quebec with a district-scale land package of 835 square kilometres that represents one of the largest land holdings in the Val-d'Or mining camp. The Novador project represents one property block of 202 square kilometres that hosts four past producing mines (Beliveau Mine, Bussiere Mine, Monique Mine and Beaufor Mine) and contains 80% of the Company's gold resources in Val-d'Or East. Novador is situated in a politically stable and low-cost mining environment that hosts numerous active producers and mills.

About Ausenco
Ausenco is a global company delivering innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors. Ausenco operates from 21 offices across five continents, delivering services worldwide with a strong track record of successfully completing projects in Quebec. Study work in Quebec includes Agnico Eagle Mines’ Wasamac FS and FS Update, O3 Mining’s Marban PFS and Probe Gold’s Novador PEA and PEA Update. Other notable PFS studies completed in Canada include NexGold’s Goliath Project and St. Barbara’s 15-Mile Project and the recently awarded Mayfair Gold Fenn-Gib Project. Beyond Quebec, Ausenco has also recently executed major projects such as Alamos Gold’s Magino Project in Ontario, St. Barbara’s Moose River Project in Nova Scotia and SilverCrest Metals’ Las Chispas Project in Mexico. (www.ausenco.com)

About G Mining
G Mining Services is an entrepreneurial minded and multidisciplinary company which provides professional services to both underground and open pit mining projects in precious, base or industrial metals. G Mining has the expertise to develop a resource through all stages from exploration and development to construction, commissioning, and full-scale operations. (www.gmining.com)

About GHD
GHD is a global, employee-owned professional services company founded in 1928 and headquartered in Australia. Operating across five continents, GHD brings together more than 1,800 professionals in Canada. We collaborate with mining clients across the globe to deliver integrated solutions that address complex environmental and engineering challenges. In Canada, we are currently supporting multiple mine waste and water management Pre-Feasibility Studies across Nova Scotia, New Brunswick, British Columbia, and Quebec. These engagements span key commodities including gold, base metals, and lithium.

By bringing together expertise in engineering, environmental science, architecture, and construction, we help our clients plan and deliver sustainable outcomes that create long-term value. (www.ghd.com)

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 Québec project. Probe controls a large land package of approximately 1,835-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.

Val-d’Or properties include gold resources totaling 6,728,600 ounces in the Measured and Indicated category and 3,277,100 ounces in the Inferred category along all trends and deposits.

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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