Probe Metals files NI 43-101 on Val-d’Or East Project

“We are very pleased with the progress of both the Updated Resource Estimate and the upcoming PEA," said Yves Dessureault, Probe’s COO. "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.”

Probe Metals Inc. has filed a technical report for its Val-d’Or East project entitled, “NI 43-101 Technical Report for the Val-d’Or East Project, Abitibi Greenstone Belt”. 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.

 

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