Northern Securities - Systematic Drilling Continues to Progress Borden to PEA

Event

Probe Mines released an additional 37 holes at its flagship Borden Lake gold project consisting of mostly shallow infill and deep exploration drilling.

Highlights

Highlight hole BL12-193 intercepted 82m of 1.1 g/t gold from 311m. However, most holes confirmed that the main deposit is plunging to the southeast and is beginning to taper off at depth, in our opinion. At this time we do not expect a significant increase in resource at the main zone though there is an opportunity to decrease the strip ratio by adding incremental ounces in the hanging wall, in our view.

Three drills are continuing exploration work at the main zone and one drill has been moved up to the "Fold Nose" (Borden North) area for “regional” testing of the Borden Trend about 3 km away. An initial drill program has already been completed at the Borden South option property of Reliant Gold Corp.

The project's Environmental Baseline study is ongoing with the intent of streamlining the project permitting process and over 500 samples have been submitted for metallurgical testing, the results of which should be due in the September time frame. The PEA is expected before the end of the year.

Milestones and Catalysts