Probe Gold Commences Environmental Permitting for Novador Project: Files Initial Project Description 

Highlights:

• Probe Gold has officially submitted the Initial Project Description for the Novador project to the Impact Assessment Agency of Canada ("IAAC").
• This marks the initial phase of the Impact Assessment ("IA") Process. In accordance with Canadian laws, approval of the assessment is a prerequisite for advancing a mining project to the construction and production stages.
• The purpose of the IA is to thoroughly examine the changes, both negative and positive, to the environment, health, social, and economic conditions associated with the Novador project.
• As part of this comprehensive process, the IAAC will actively engage and consult with Indigenous groups, as well with a wide range of stakeholders. This includes host communities, non-governmental organizations, and other relevant parties.

TORONTO, Nov. 07, 2023 -- Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce the official submission of the Initial Project Description for the Novador project to the Impact Assessment Agency of Canada (IAAC), the federal body accountable to the Minister of Environment and Climate Change.

This marks the initiation of the Impact Assessment ("IA") process, which is required under Canadian law for the advancement of a mining project towards construction and production. The IA will assess changes, both negative and positive, to the environment, health, social, and economic conditions associated with the Novador project. Throughout this process, the IAAC will initiate engagement and consultation activities with Indigenous groups, as well as with various stakeholders, including host communities, non-governmental organizations, and other participants.

David Palmer, President and CEO of Probe Gold, states, "The submission of the Initial Project Description represents a major milestone for the Novador project, and we are very pleased to start the clock on the environmental permitting. Canada's rigorous regulatory framework enables the construction and operation of mines adhering to the world's most stringent environmental and social standards and we are proud to be part of this process. We are now in a position to engage stakeholders for their input, ensuring that any future operations are in line with environmental and social expectations. We look forward to working closely with our stakeholders and government regulators as we navigate through the environmental permitting process."

Yves Dessureault, COO of Probe Gold, states, "The commencement of the environmental permitting process is the culmination of our team's diligent work over the past few years. This preparation included the completion of environmental baseline studies, which have notably considered the physical environment and biodiversity around the mine site across various seasons. We have also engaged in information and consultation activities with Indigenous groups and local communities to identify key priorities and have established essential working relationships with the federal government and community stakeholders."

At the federal level, the commencement of the "Planning Phase" is marked by the submission of the Initial Project Description. During this phase, the IAAC will contact the Indigenous groups to inform them that a potential project is being contemplated that may affect their rights or interests, and to invite them to participate in the planning phase. The IAAC will also engage and consult the public and other participants on the Initial Project Description to identify key issues of concern. The Planning Phase is anticipated to last for 180 days and will culminate in the formulation of a tailored impact statement guidelines for Probe Gold project outlining the information and studies required in the IA.

Probe Gold will work closely with the IAAC throughout the environmental assessment process to ensure the responsible execution of the Novador project. Indigenous groups and other stakeholders will play an important role in the development of the project, as their collaboration throughout the development of the project is essential.

About Probe Gold:

Probe Gold Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated to the exploration and development of high-quality gold projects, notably its 100% owned flagship asset, the multimillion-ounce Novador Gold Project in Québec. Probe Gold controls a large land package of approximately 1,600-square-kilometres of exploration ground within some of the most prolific gold belts in Québec.

On behalf of Probe Gold Inc.,

Dr. David Palmer, Ph.D.
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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