Good morning,

We reported results from 45 new holes from the 2022 drill program on the Monique deposit this morning (see attached NR).

Here are the main highlights:

• Infill drilling returned 15.1 g/t Au (cut) (18.2 g/t Au uncut) over 7.4 metres, including 129.0 g/t Au over 0.8 metre; 1.5 g/t Au over 54.0 metres; and 1.7 g/t Au over 22.1 metres
• Expansion drilling returned impressive new intercepts grading up to 3.9 g/t Au over 11.0 metre; 2.5 g/t Au over 16.5; and 2.4 g/t Au over 16.3 metres proximal to the existing resource
• Over 145,000 metres of drilling completed year-to-date at Val-d’Or East 
• 6 drills active divided between Pascalis and Courvan gold trends

See below for the surface map for your reference:

https://probemetals.com/site/assets/files/1594/figure-monique-pr-october18_2022.pdf

What it means…

As stated by David Palmer, our CEO, the mineralization at Monique is showing incredible consistency. During this round of drilling, thick, continuous gold zones have been identified, and the deposit has continued to expand and improve quickly. We have defined continuous gold mineralization over a strike length of more than 2 kilometres along a structure that extends for at least 10 kilometres and has had very little prior exploration.

…and what’s next

We expect an updated resource for Monique deposit by year end and for Pascalis and Courvan in the first quarter of 2023. Furthermore, as we near completion on much of the pre-feasibility work, we will be increasing our focus on untested targets and regional exploration surrounding the deposits.  This exploration upside is what first attracted us to Val-d’Or East, and we are looking forward to expanding our exploration programs to capture some of the potential we see in these other areas on our property.

Please don’t hesitate to reach out with your questions.

Thanks, and have a great day.

Seema