UNLOCKING VALUE IN VAL-D OR

Transcription

1 TSX-V: PRB WELL-FUNDED CANADIAN GOLD EXPLORER UNLOCKING VALUE IN VAL-D OR Corporate Presentation November

2 FORWARD LOOKING STATEMENTS Forward Looking Information This presentation may include certain forward-looking statements within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Probe Metals Inc. ( the Company ), future opportunities and anticipated goals, the company s portfolio, treasury, management team, timetable to permitting and production and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as seeks, believes, anticipates, plans, continues, budget, scheduled, estimates, expects, forecasts, intends, projects, predicts, proposes, "potential", targets and variations of such words and phrases, or by statements that certain actions, events or results may, will, could, would, should or might, be taken, occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forwardlooking information is subject to known and unknown risks, including but not limited to: an inability to complete the business combination; general business, economic, competitive, geopolitical and social uncertainties; delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval; the actual results of current exploration activities; acquisition risks; and other risks of the mining and resource industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company are based on information currently available to the Company. The Company do not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by investors as actual results may vary. Unless required to be updated pursuant to securities laws, these statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement. National Instrument Technical and scientific information contained herein relating to the Projects is derived from National Instrument ( NI ) compliant technical reports ( Reports ) Mineral Resources Val d Or East Property dated February 20, Technical and scientific information not contained within the Report and contained in this Presentation has been reviewed and approved by Independent Qualified Person Mr. Christian D Amour, P. Geo., from GeoPointCom, who is the independent qualified person under NI The Technical Report is available for revision on SEDAR at under the Company s profile. This Presentation uses the terms indicated resources and inferred resources. Although these terms are recognized and required by Canadian regulations (under NI ), the United States Securities and Exchange Commission does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no guarantee that all or any part of the mineral resource will be converted into mineral reserves. In addition, inferred resources have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. Currency Unless otherwise indicated, all dollar values herein are in Canadian $. 2

3 GOLD EXPLORER UNLOCKING VALUE in Canada Focused on the UNDER-EXPLORED VAL-D OR EAST DISTRICT in Quebec 327 km 2 district-scale land consolidation within one of Canada's leading gold mining camps 1.4MOZ OF GOLD RESOURCE with Significant Exploration Upside Open pit-constrained resource 1 535,900 oz. of gold at 2.16 g/t Au Indicated 247,400 oz. of gold at 1.46 g/t Au Inferred Underground resource 1 146,500 oz. of gold at 3.44 g/t Au Indicated 474,700 oz. of gold at 3.65 g/t Au Inferred Aggressive ongoing exploration program 85,000 metres of drilling planned in 2018, focus on resource expansion and new discoveries STRONG FUNDAMENTALS Well-funded, cash position ~$35mm Goldcorp as a strategic investor Management with proven track record of delivering shareholder value (1) Source: NI technical report Mineral Resources Val-d Or East Gold Project, February 20,

4 THE PROBE TEAM: MANAGEMENT Track Record of Delivering Shareholder Value DAVID PALMER MARCO GAGNON YVES DESSUREAULT PATRICK LANGLOIS President, Chief Executive Officer and Director Executive Vice President and Director Chief Operating Officer Vice President, Corporate Development Former President and CEO of Probe Mines (2003 to 2015) Former President and CEO of Adventure Gold (2007 to 2016) Former COO of Probe Mines ( ) Former Vice President of Probe Mines (2012 to 2015) 2015: PDAC Bill Dennis Award for a Canadian Mineral Discovery 2015: Northern Miner Mining Person of the Year 2014: Prospector of the Year, Ontario Has over 25 years of experience in Project Acquisition, Exploration and Mine Development Former senior geologist with Inmet Mining and Barrick Gold Has over 25 years of experience in Operations, Project Evaluation and Mine Development Former executive at BBA, Rio Tinto and Hatch Has over 15 years of experience in Corporate Development, Venture Capital and Investment Banking 2014: CIM A.O. Dufresne Exploration Achievement Award 4

5 THE PROBE TEAM: DIRECTORS Track Record of Delivering Shareholder Value JAMIE SOKALSKY GORD MCCREARY DENNIS PETERSON BASIL HAYMANN Chairman Director Director Director Currently, Director of Agnico Eagle Mines and Royal Gold Former Director of Probe Mines (2012 to 2015) Former Director of Probe Mines (2001 to 2015) Former Director of Probe Mines (2013 to 2015) Former President and CEO of Barrick Gold Corporation ( ) Former CFO of Barrick Gold Corporation (1999 to 2012) Former CEO of Newcastle Gold and Baffinland Iron Mines Founding Officer of Kinross Gold Founder of Peterson McVicar LLP Has 20 years of experience as a corporate securities lawyer specializing in corporate finance matters for small cap companies Entrepreneur, currently Chairman of FabriTec Structures LLC Has 50 plus years of experience founding and taking companies to top levels of success in their industries 5

6 CAPITAL STRUCTURE and Financial Information PROBE METALS INC. ANALYST COVERAGE Market capitalization $115.0 million Canaccord Genuity Tom Gallo Shares outstanding (basic) million Cormark Securities Tyron Breytenbach Shares outstanding (fully diluted) million Industrial Alliance Securities George Topping Cash and Investments ~$30.0 million Mackie Research Capital Stuart McDougall 52 week trading range $ $0.91 Recent Price (26/11/18) $1.04 Macquarie Capital Markets Michael Gray TOP SHAREHOLDERS Goldcorp (~14%) Caisse de dépôt et placement du Québec AGF Investments Libra Advisors Kingsley Advisors Windermere Capital Van Eck U.S. Global Investors BMO Asset Management Picton Mahoney Fonds de solidarité FTQ SIDEX Management and Directors (~6%) 6

7 UNLOCKING VALUE in the Abitibi Gold Belt ABITIBI Greenstone Belt 200M 30M Au oz Produced Au oz Reserves 7

8 VAL-D OR EAST PROJECT District-Scale Exploration Opportunity ABITIBI GREENSTONE BELT Val-d Or Camp ~20 Moz Au Production Probe is now one of the LARGEST LANDHOLDERS IN VAL-D'OR Good access and infrastructure: Proximity to road, electricity, Val-d Or, regional airport, railroad Quebec: mining friendly jurisdictions Four past producing mines trend on the project Strategic land position 8

9 VAL-D OR EAST PROJECT Mineral Resource Summary February M OUNCES OF GOLD RESOURCE with Exploration Upside HIGH-GRADE OPEN-PIT with Significant Underground Potential DEPOSIT / CATEGORY Tonnes OPEN PIT-CONSTRAINED UNDERGROUND TOTAL Grade (Au g/t) Gold (oz) Tonnes Grade (Au g/t) Gold (oz) Tonnes Grade (Au g/t) Gold (oz) INDICATED 7,710, ,900 1,325, ,500 9,036, ,400 INFERRED 5,259, ,400 4,044, ,700 9,303, ,100 Mineral Resources Statement, GeoPointCom 9

10 VAL-D OR EAST PROJECT Geological Model 2.5 km long GOLD MINERALIZED SYSTEM Geological Model Pascalis Gold Trend Area 10

11 VAL-D OR EAST PROJECT Long Section The deposits have shown SIGNIFICANT IMPROVEMENT and REMAIN OPEN IN ALL DIRECTIONS for expansion Longitudinal Section Pascalis Gold Trend Area 11

12 VAL-D OR EAST PROJECT 3D BLOCK MODEL Focus for Development: The Open Pits Significant GOLD MINERALIZED system OVER 2.5 KM IN STRIKE LENGTH, with more expansion potential 12

13 VAL-D OR EAST PROJECT Focus on Resource Expansion HIGH-GRADE OPEN-PIT with Significant Underground Potential Ongoing drill program confirms the continuity of gold mineralization and the expansion potential of the New Beliveau deposit Recent numerous new discoveries made surrounding the past producing Bussiere Mine located approx. 1.5 to 3 kilometers west of the current minerals resource 13

14 VAL-D OR EAST PROJECT Exploration Targets First property scale geophysical survey completed on the property, over 500 line kilometres ) " Past Producing Gold Mine ) " Operating Gold Mine _ ^ Gold Deposit Gold Showing Probe Metals - Val-d'Or East Project Ongoing property-scale IP survey designed to test for extensions to the known mineralized system as well as satellite gold targets ted Interpre ries Pa bounda scalis Tr end exploration Additional gold targets identified on the _ ^ Pascalis Trend ) " ) " _ ^ Gold Trend ^ ^ ) " 14

15 VAL-D OR EAST PROJECT De-Risking the Project Good metallurgy / Low excellent recoveries Good ground / rock conditions Proximity to infrastructure Proximity to labor pool, contractors, service providers No metals leaching, no acid generation Project Opex Improving Returns LOW CAPEX & OPEX High Low Project Capex 15

16 ADVANCING VAL-D OR EAST PROJECT 2018 EXPLORATION PROGRAM $12M BUDGET Ongoing 85,000-metre drill program focused on expanding the current gold resources and the discovery of new gold deposits within the regional land holdings. Engineering studies Geotechnical, environmental geochemistry, hydrogeology, metallurgy Environmental baseline Additional regional target generation 16

17 GOLD EXPLORER UNLOCKING VALUE in Canada 1.4MOZ OF GOLD RESOURCE with Significant Exploration Upside District-Scale Land Package in a WORLD CLASS JURISDICTION AGGRESSIVE EXPLORATION PROGRAM Underway to Expand the Existing Resources PROVEN MANAGEMENT TEAM with a Track Record of Execution Advancing Val-d Or East Project UPCOMING MILESTONES District Consolidation Completed 83,000 metres Drill Program Completed Updated NI Resource Estimate Completed 85,000 metres 2018 Drill Program Ongoing Drill Results Ongoing Updated NI Resource Estimate H

18 APPENDIX VAL-D OR EAST PROJECT Consolidation Strategy 327 km2 District-scale Land Consolidation within One of Canada s Leading Gold Mining Camps 18

19 APPENDIX VAL-D OR EAST PROJECT Detailed Resources February 2018 DEPOSIT / CATEGORY Tonnes (metric) OPEN PIT-CONSTRAINED UNDERGROUND TOTAL Grade (Au g/t) Gold (oz.) Tonnes (metric) Grade (Au g/t) Gold (oz.) Tonnes (metric) Grade (Au g/t) Gold (oz.) BELIVEAU DEPOSIT Indicated 6,284, ,600 1,226, ,400 7,510, ,000 Inferred 3,114, ,700 3,101, ,800 6,215, ,500 NORTH DEPOSIT Indicated 805, ,700 32, , , ,400 Inferred 1,516, , , ,900 1,820, ,900 HIGHWAY DEPOSIT Indicated 620, ,600 67, , , ,000 Inferred 523, , , , , ,200 SOUTH DEPOSIT Indicated Inferred 106, , , , , ,500 Mineral Resources Statement, GeoPointCom 19

20 APPENDIX VAL-D OR EAST PROJECT Multi-Million Ounce Potential Doubled the gold resources with 83,000 METRES DRILLED EXPANSION POTENTIAL, the deposit is open in all directions Objective to expand to multi-million ounce stand-alone project 722 Low discovery cost approx. $10 PER OUNCE Inferred Resources (koz) M&I Resources (koz) 20