Probe Metals Intersects 6.8 g/t Au over 5.3 metres on the Courvan Gold Trend, Val-d’Or East Project, Quebec

Highlights:

• Drilling program continues to expand near surface discoveries on the parallel Courvan gold trend located 1.5 km west of the New Beliveau deposit
• Drilling results east of the Southwest zone identified significant new gold mineralization with intercepts grading up to 6.8 g/t Au over 5.3 metres, including 25.1 g/t Au over 1.0 metre; and 0.6 g/t Au over 151.2 metres, including 25.5 g/t Au over 1.2 metre
• Drilling between Bussiere and Creek Zones returned an intercept grading 2.0 g/t Au over 13.2 metres
• Courvan drilling to be included in an updated mineral resource estimate, which is expected shortly
  

TORONTO, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to provide new results from its Courvan area drill program on its Val-d’Or East property (the “Property”) located near Val-d’Or, Quebec. The 100%-owned claims are located approximately 1.5 kilometres west of, and adjacent to, the New Beliveau deposit. The drill program is focusing on expansion and exploration drilling in and around the former Bussiere mine. Results from twenty-two (22) follow-up drill holes released today, totaling 6,210 metres, continue to expand previous discoveries as they delineate the new Courvan parallel gold trend. This trend includes five deposits namely Southwest, Southeast, Bussiere West, Creek and Bordure (see figure 1). An updated mineral resource estimate, incorporating new drill results from the Courvan gold trend, is expected shortly. Selected highlights of the drill results are presented below.

David Palmer, President and CEO of Probe, states, “The Courvan area continues to deliver above expectations in both exploration and infill drilling programs.  Based on the results to date, the Courvan area is considered to be a legitimate parallel trend to the gold mineralization hosted by the Beliveau deposit, which currently contains most of the Company’s gold resources.  The identification of parallel trends opens up considerable exploration upside and both geophysical and geochemical surveys are in-progress to delineate these and other potential trends within the area.  The Fall drilling program, expected to begin shortly, will focus on both Resource expansion/improvement and the discovery of new trends and deposits.  Management is looking forward to accelerating its exploration programs in this rising gold price environment.”

Assay results from selected drill holes are reported in the following table:

Selected drill results from the Courvan Area drilling program¹

(1) All the new analytical results reported in this release and in this table, are presented in core length and uncut. Additional drilling is planned for the immediate area which will enable the true width determination.

Figure 1: Surface Map – Val-d’Or East - Courvan and Pascalis Gold Trend Area
https://www.probemetals.com/site/assets/files/1430/vde-courvan-surface_map-201908.pdf

About the Courvan Property, Val-d’Or East Project:

The Courvan Property is adjacent to the Company’s New Beliveau deposit at Val-d’Or East and unlocks significant exploration potential to the west of the New Beliveau mineralized system. The Property land package is largely unexplored, with limited historic diamond drilling in the vicinity of the past-producing Bussiere Mine. Gold-bearing veins historically mined on the property consisted of quartz-tourmaline-pyrite veins associated with shear zones and diorite dykes, similar to what is found in the New Beliveau deposit, approximately 1.5 kilometers to the east. The Bussiere Mine produced 42,000 ounces at an average grade of 5.8 g/t Au up until 1942, when it was destroyed by forest fires.

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P.Geo, Executive Vice President, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control

During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assayed with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (Metallic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.

About Probe Metals:
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately   1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Goldcorp Corporation currently owns approximately 13.7% of the Company.

On behalf of Probe Metals Inc.,
 
Dr. David Palmer,
President & Chief Executive Officer

For further information:

Please visit our website at www.probemetals.com or contact:

Seema Sindwani
Director of Investor Relations
[email protected]
+1.416.777.9467

Forward-Looking Statements

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