2016.02.28 probe metals presentation

Corporate Presentation March 2015Corporate Presentation February 2016

wwwprobemetalscom

Cautionary Notes

2

Forward Looking Information

This presentation may include certain ldquoforward-looking statementsrdquo 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 (ldquothe Companyrdquo) future opportunities and anticipated goals projected

capital and operating expenses 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 plans expects or does not expect is

expected budget scheduled estimates forecasts intends anticipates or does not anticipate or believes or

variations of such words and phrases or state that certain actions events or results may could would might or will 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 Forward-looking information is subject to

known and unknown risks including but not limited to general business economic competitive geopolitical and social

uncertainties 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 and are

based on information currently available to the Company The Company does not undertake to update any forward- looking

information except in accordance with applicable securities laws The Company believes 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

Currency

Unless otherwise indicated all dollar values herein are in Canadian $

TSXV PRB

Investment Highlights

3TSXV PRB

Creating a leading Canadian gold exploration and development company

Our Strategy We are focused on creating value through the acquisition and the exploration of high quality gold

mining properties

Focused on the following criteria

bull Precious Metals

bull Resources Stage Advanced Exploration Potential

bull Mining-Friendly Jurisdiction

bull Good Infrastructure

bull Valuation

Excellent Track Record The team is led by Jamie Sokalsky as Chairman former Barrickrsquos President amp CEO and David

Palmer as President amp CEO former Probe Mines President amp CEO

Proven track record of delivering shareholder value through mineral discovery and project

development as evidenced by the sale of the Borden Gold Project for $526 million to Goldcorp in

March 2015

Strong Financial Position Well-funded cash position ~$18 million

Cornerstone strategic investor in Goldcorp currently owns 18 of the Company

Management amp Board

High calibre team with a proven track-record and an extensive working history

Jamie SokalskyChairman

Currently Director of Agnico Eagle Mines Royal Gold and

Pengrowth Energy

Former President amp CEO of Barrick Gold Corporation (2012-2014)

Former CFO of Barrick Gold Corporation (1999 to 2012)

Yves DessureaultChief Operating Officer

Former COO of Probe Mines (2014-2015)

Has over 25 years of experience in Operations Project Evaluation

amp Mine Development

Former mining executive at BBA Rio Tinto and HatchCamp

Management

Patrick LangloisVice President Corporate Development

Former Vice President of Probe Mines (2012 to 2015)

Has over 15 years of experience in Corporate Development

Venture Capital amp Investment Banking

Gord McCrearyDirector

Former Director of Probe Mines (2012 to 2015)

Former CEO of Baffinland Iron Mines

Former officer of Kinross Gold

Basil HaymannDirector


Entrepreneur currently Chairman of Guard-All Building Solutions

Has 50 years of experience founding and taking companies to top

levels of success in their industries

Dennis PetersonDirector


Founder of Peterson and Company LLP

Has 20 years of experience as a corporate securities lawyer

specializing in corporate finance matters for small cap companies

Carmelo MarrelliChief Financial Officer

Former CFO of Probe Mines (2008 to 2015)

Has experience in auditing and investment accounting and as

principal of Marrelli Support Services Inc

Directors

David PalmerPresident Chief Executive Officer amp Director

Former President amp CEO of Probe Mines (2003 to 2015)

2015 ndash PDAC Canadian Mineral Discovery

2015 ndash Northern Miner Man of the Year

2014 ndash Prospector of the Year ndash Ontario

2014 - CIM AO Dufresne Exploration Achievement Award

4TSXV PRB

Building A Portfolio of High Quality Gold Assets

5

Acquired in February 2016

Land package of 47 km2 located

between Goldcorprsquos Borden Gold

project and Timmins

Project covers a 10 kilometer long

section of Archean greenstone

that contains the interpreted

western extension of the

Porcupine-Destor Fault Zone

Highly prospective geology in an

under-explored area within one of

Ontariorsquos most prolific gold

producing mining camps

Previous exploration work and

drilling has identified two

distinctive zones of high-grade

gold mineralization and several

prospective gold targets

TSXV PRB

WEST PORCUPINE PROJECT ndash REGIONAL GEOLOGY WEST PORCUPINE PROPERTY

amp ROSS PROPERTY

Past Discoveries

6

BORDEN GOLD PROJECT

Acquired by Goldcorp Inc in March 2015

Discovery in 2010

Large resource anchoring a new district

High-grade underground + Bulk tonnage open-pit

NI 43-101 Resource Estimate

(2+ million ounces of high-grade gold)

Well-developed infrastructure

BLACK CREEK CHROMITE

100 owned by Probe Metals Inc

Discovery in 2009

Strategically located between Norontrsquos Black Thor and

Big Daddy deposits

High-Grade Chromite deposit at surface


TSXV PRB

Capital Structure

7

Probe Metals Inc Symbol PRB

Listed Exchange Toronto Venture

Market capitalization $164 million

Shares outstanding (basic) 349 million

Shares outstanding (fully diluted) 375 million

Cash Balance ~$180 million

52 week trading range $056 - $033

Recent Price (022416) $047

Major Shareholders Holdings

(IampO)

Strategic amp Institutional Investors

Goldcorp Agnico Eagle AGF

Sprott Van Eck 1832 Asset Management

BMO Asset Management etc

~ 50

Management amp Directors 9

Analyst Coverage

Macquarie Capital Markets Michael Gray

TSXV PRB

Probe Mines ndash Value Creation

8

Source (1) Company filings FactSet

Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600

Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal

Announces 44 Increase in

Global Resource Estimate

and New Pit Constrained

Announces $150 mm

Private Placement

Strategic Investment by Agnico Eagle

$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden

Acquisition by GoldcorpHGZ Discovery

51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)

First HGZ Resource Estimate

of 16 mm ozs Indicated Au at 53 gt

and 04 mm ozs Au inferred at 44 gt

Updated Resource

Estimate 37 mm ozs

Indicated Au at 10 gt

and 06 mm ozs Inferred

at 11 gt

Proven track record of delivering shareholder value through

mineral discovery and project development

Borden Gold project

$59 million to over $525 million market capitalization in four years

TSXV PRB

For Investor Relations contact

Karen Willoughby

Director of Corporate Communications

TF 1-866-936-6766

Tel 416-900-6656

Email kwilloughbyprobemetalscom

wwwprobemetalscom

Cautionary Notes

2

Forward Looking Information

This presentation may include certain ldquoforward-looking statementsrdquo 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 (ldquothe Companyrdquo) future opportunities and anticipated goals projected

capital and operating expenses 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 plans expects or does not expect is

expected budget scheduled estimates forecasts intends anticipates or does not anticipate or believes or

variations of such words and phrases or state that certain actions events or results may could would might or will 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 Forward-looking information is subject to

known and unknown risks including but not limited to general business economic competitive geopolitical and social

uncertainties 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 and are

based on information currently available to the Company The Company does not undertake to update any forward- looking

information except in accordance with applicable securities laws The Company believes 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

Currency

Unless otherwise indicated all dollar values herein are in Canadian $

TSXV PRB


3TSXV PRB



mining properties






bull Valuation





March 2015







Pengrowth Energy








Management























Directors







4TSXV PRB


5




project and Timmins















TSXV PRB


amp ROSS PROPERTY

Past Discoveries

6

BORDEN GOLD PROJECT


Discovery in 2010








Discovery in 2009


Big Daddy deposits



TSXV PRB

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom


3TSXV PRB



mining properties






bull Valuation





March 2015







Pengrowth Energy








Management























Directors







4TSXV PRB


5




project and Timmins















TSXV PRB


amp ROSS PROPERTY

Past Discoveries

6

BORDEN GOLD PROJECT


Discovery in 2010








Discovery in 2009


Big Daddy deposits



TSXV PRB

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom





Pengrowth Energy








Management























Directors







4TSXV PRB


5




project and Timmins















TSXV PRB


amp ROSS PROPERTY

Past Discoveries

6

BORDEN GOLD PROJECT


Discovery in 2010








Discovery in 2009


Big Daddy deposits



TSXV PRB

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom


5




project and Timmins















TSXV PRB


amp ROSS PROPERTY

Past Discoveries

6

BORDEN GOLD PROJECT


Discovery in 2010








Discovery in 2009


Big Daddy deposits



TSXV PRB

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom

Past Discoveries

6

BORDEN GOLD PROJECT


Discovery in 2010








Discovery in 2009


Big Daddy deposits



TSXV PRB

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom

Capital Structure

7










(IampO)





~ 50


Analyst Coverage


TSXV PRB


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom


8


Market Cap

Gold Price

C$13 mm

US$1105oz

C$59 mm

US$1421ozC$116 mm

US$1567oz

C$117 mm

US$1676oz

C$170 mm

US$1202oz

C$551 mm

US$1228oz

--

1

2

3

4

5

6

--

$100

$200

$300

$400

$500

$600


Acquires the Borden

Gold Project

Borden Gold

Discovery

Private Placement

of C$25 mm

Initial Mineral

Resource Estimate

C$15 mm Bought Deal




Announces $150 mm

Private Placement


$26 Million Flow-

Through Private

Placement

Consolidates

100

Ownership of Borden


51 m at 103 gt

Vo

lum

e (m

illion

s)S

ha

re P

ric

e (

C$)




Updated Resource

Estimate 37 mm ozs



at 11 gt



Borden Gold project


TSXV PRB


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom


Karen Willoughby


TF 1-866-936-6766

Tel 416-900-6656


wwwprobemetalscom