Probe Awards EIS Contract; Advances Permitting for Novador Project

/EIN News/ -- Highlights:

• As part of the permitting process for the Novador Project, Probe Gold has awarded the Environmental Impact Assessment/Statement (EIA/EIS) contract to WSP.
• The completed EIA/EIS will form the cornerstone of Probe Gold’s impact assessment application to federal and provincial regulators, and is another significant milestone in the permitting process, bringing the Novador Project closer to production.
• WSP is a globally recognized leader in environmental permitting, consistently ranked among the top environmental consulting firms. The company has successfully completed EIA/EIS, including the James Bay Lithium Mine Project for Galaxy Lithium (Canada) inc., the Windfall Mine Project for Minière Osisko inc., the Bloom Lake Project for Minerai de Fer Québec, among others. WSP is also involved in several ongoing EIA/EIS for various mining clients.
  

TORONTO, May 06, 2025 (GLOBE NEWSWIRE) -- PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF) ("Probe" or the "Company") is pleased to announce that it has awarded the contract for the Environmental Impact Assessment/Statement (EIA/EIS), for the Novador Project, to WSP Canada Inc. (“WSP”). As part of this engagement, WSP will support the preparation of the EIA/EIS documentation, covering key environmental aspects of the project, including geochemistry, groundwater and surface water quality, hydrology, hydrogeology, air quality, noise and vibration, vegetation and wetlands, fish and fish habitat, species with conservation status. Submission of the EIA/EIS, to both federal and provincial authorities, is targeted for Q1 2027. The Impact Assessment Agency of Canada (IAAC) will use the EIS, along with other relevant information, to prepare an impact assessment report in order to approve permitting. At the provincial level, the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks will proceed with the screening analysis and the environmental analysis of the EIA report.

David Palmer, President and CEO of Probe Gold, states “This milestone marks another key step forward in the permitting process and continued de-risking of the Novador Project. Partnering with WSP, a recognized leader in Environmental Impact Statements, gives us confidence in the quality and scope of the work, which will help us to meet our permitting timeline of 2027. With the close of our recent financing, we are now fully-funded to advance through the regulatory and permitting process, which will unlock significant value for Shareholders.”

Figure 1: Federal and Provincial Environmental Permitting Process

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 WSP
WSP is one of the world’s leading professional services firms, uniting its engineering, advisory and science-based expertise to shape communities to advance humanity. From local beginnings to a globe-spanning presence today, WSP operates in over 50 countries and employs approximately 73,000 professionals, known as Visioneers. Together they pioneer solutions and deliver innovative projects in the transportation, infrastructure, environment, building, energy, water, and mining and metals sectors. WSP is publicly listed on the Toronto Stock Exchange (TSX:WSP).

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

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, expectations about the use of proceeds from the Offering and final acceptance from the TSX. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the inability of the Company to apply the use of proceeds from the Offering as anticipated, the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects pandemics or other global events on the business of the Company, including but not limited to the effects of the same on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Shares Issued: 203,957,877

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