Expanding Land Package
Probe has acquired a 100% interest in the McKenzie Break and Beaufor properties, expanding its landholdings in Val-d’Or to 685 square kilometers. The addition of these properties complements the Company’s existing Novador Project.
Transaction Details
The acquisition was completed for a total consideration of $8.5 million, with Probe issuing 3,580,902 common shares and making a cash payment of $3.1 million to Monarch. The Consideration Shares have a hold period of four months and one day from the closing date of the acquisition.
About the Beaufor Property
The Beaufor property, adjacent to the Novador project, hosts a significant gold resource and is easily accessible via Highway 117. The property includes surface mining rights and infrastructure, making it a valuable addition to Probe’s portfolio.
About the McKenzie Break Property
Located near the Novador Project, the McKenzie Break property boasts a high-grade gold deposit with both indicated and inferred mineral resources. With underground infrastructure and year-round accessibility, the property enhances Probe’s exploration efforts in the region.
Insight
The acquisition of the Beaufor and McKenzie Break properties strengthens Probe Gold’s position in the Val-d’Or region, a known gold-rich area in Quebec. By expanding its land package and acquiring properties with significant mineral resources, Probe is poised for further exploration and development opportunities.
About Probe Gold
Probe Gold Inc. is a leading Canadian gold exploration company with a focus on high-potential properties. With a strong portfolio of projects, including the Novador Gold Project, the Company is well-positioned to capitalize on the growing demand for gold and exploration activities in Quebec.
Contact:
Dr. David Palmer
President & Chief Executive Officer
Tel: +1.416.777.9467
Forward Looking Statements
As with any acquisition, there are inherent risks and uncertainties associated with future exploration and development plans. While Probe Gold is optimistic about the potential of the Beaufor and McKenzie Break properties, it is essential to consider factors that could impact the Company’s objectives and goals going forward.
The acquisition of the Beaufor and McKenzie Break properties aligns with Probe Gold’s strategy of acquiring highly prospective gold assets for exploration and development. With the addition of these properties, Probe has expanded its presence in Val-d’Or, Quebec, setting the stage for future growth and success in the region.
