Corporate Presentation February 2014

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Information about Corporate Presentation February 2014

Published on February 19, 2014

Author: Adnet


Borden Discovery Outcrop Building Ontario’s Newest Gold District TSX.V: PRB FEBRUARY 2014 Probe Mines Limited was recognized as a TSX Venture 50® Company in 2014. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

Cautionary Notes Disclaimer This presentation contains a review of the Company’s projects in Canada. Viewers are cautioned that the projects are at an early stage of exploration and that estimates and projections contained herein are based on limited and incomplete data. More work is required before the mineralization on the projects and their economic aspects can be confidentially modeled. Therefore, the work results and estimates herein may be considered to be generally indicative only of the nature and quality of the projects. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates herein will be confirmed by future exploration or analysis, or that the projects will otherwise prove to be economic. Forward-Looking Statements This presentation includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. 2 TSX.V: PRB

Investment Highlights Borden: A Growing High-Grade Gold Project in Ontario, Canada  Low geopolitical risk  Pit-constrained Resource over 4.3 MMoz @ 1.03 g/t Au (January 2013)  Continued high-grade intercepts, over 1.0km of strike length identified  Significant, ongoing, resource growth potential and still open in both directions 2014 TSX Venture TOP 50 2013 Ontario Prospector Award Experienced Management Team  Strong history in exploration, mining engineering & capital markets Strong Financial Position  $33.4 million at October 31st, 2013  Well funded to continue de-risking through engineering and permitting  Completed a $15 million financing in May 2013, Agnico Eagle owns 9.9% of Probe Mines’ issued and outstanding shares on a non-diluted basis  Goldex Royalty: Potential production milestone payment of $4.0 million anticipated Potential for New Discoveries  Two major discoveries: Borden Gold & Black Creek Chromite  Strong exploration potential: Over 400 square km of new ground within the Borden Belt  Ongoing strategy to consolidate the Borden Belt 3 TSX.V: PRB

Strong Management Team Patrick Reid, B.A. Chairman of the Board Past President of the Ontario Mining Association David Palmer, Ph.D., P.Geo. President, Chief Executive Officer & Director Over 20 years in the Mining Industry Michael Petrina, MBA, P.Eng. Chief Operating Officer Over 25 years of experience in Operations, Engineering & Mine Development Patrick Langlois, MBA, CFA Vice President, Corporate Development Over 15 years of experience in Corporate Development & Investment Banking Carmelo Marrelli, CA, CSA Chief Financial Officer Experienced Mining Accountant John Gammon, Ph.D. Director Former Assistant Deputy Minister of Mines for Ontario Gordon McCreary, MBA, P.Eng. Director Former officer of Kinross and Baffinland, currently President & CEO of Castle Mountain Mining Dennis Peterson, B. Comm, LLB Director Corporate Securities Lawyer, Small Cap Mining Expertise Basil Haymann Director Entrepreneur, currently Chairman of Guard-All Building Solutions 4 TSX.V: PRB

Corporate Summary Probe Mines Limited Listed Exchange Market capitalization Symbol: PRB Toronto Venture $247.5 million Analyst Coverage BMO Capital Markets Cormark Securities John Hayes Tyron Breytenbach Shares outstanding (basic) 75.7 million Edgecrest Capital Shares outstanding (fully diluted) 88.1 million Jennings Capital Peter Campbell $33.4 million Mackie Research Barry Allan Cash Balance (10/31/13) Debt 52 week trading range Recent Price (02/18/14) None $1.10 - $2.89 $3.27 Macquarie Capital Markets MGI Securities Ali Khan Pierre Vaillancourt Marc Pais Institutional / Strategic Investors: Agnico Eagle, Macquarie, Sprott, US Global, AGF, Sentry, Goodman, Fidelity, BMO, Seamans, etc. Management & Directors David Sadowski RBC Capital Markets Major Shareholders Raymond James Sam Crittenden Holdings (I&O) ~ 50% 6% 5 TSX.V: PRB

Ontario: Mining Friendly Jurisdiction BORDEN GOLD  Favourable and well-developed infrastructure, 1 km from paved highway and power  Pit-constrained Resource over 4.3 MMoz at 1.03 g/t Au, still expanding and improving in grade  High-grade zone expanding and open along strike  Significant, ongoing, resource growth potential  Potential for low CAPEX BLACK CREEK CHROMITE  Strategically located between Cliffs Natural Resources’ Black Thor and Big Daddy deposits  Over 10Mt of high-grade chromite in open-pitable deposit 6 TSX.V: PRB

New Gold District BORDEN GOLD – REGIONAL GEOLOGY-LOCATION • Close to numerous mining districts Chapleau Area Infrastructure • Excellent access & local infrastructure Only 9 km from Chapleau 1 km to Highway/Power 10 mins to Rail • Within the Kapuskasing Structural Zone Underexplored • Community Receptive to new industry • First Nations Agreement in place 7 TSX.V: PRB

High-Grade Gold Zone Expanding BORDEN GOLD – DRILL PLAN Since discovery: 586 drill holes completed, representing over 200,000 metres 2013 program: 218 drill holes for ~84,000 metres 2014 winter program: Focussed on expansion 8 TSX.V: PRB

High-Grade Continuity in the Southeast Hole Section BL13-358 900m SE including 950m SE 1000m SE including 1050m SE including 1100m SE including 1200m SE including 1250m SE including 1300m SE including 1500m SE including 1600m SE including 1700m SE including 1800m SE including 1850m SE including including 1900m SE including 2000m SE including BL14-582 BL14-583 BL14-584 BL13-421 BL12-256 BL13-399 BL13-420 BL13-455 BL13-562 BL13-378 BL13-402 BL14-573 BL13-403 BL13-554 Width (m) Gold (g/t) 36.5 11.7 30.1 39.5 16.0 34.8 12.6 29.4 6.5 51.0 25.0 26.1 17.7 47.0 8.0 44.4 14.3 42.9 8.8 25.0 12.9 27.1 9.2 39.0 19.4 8.4 39.0 13.0 35.0 20.0 4.5 11.5 3.5 7.0 12.4 5.1 11.4 5.9 15.3 10.3 17.8 8.5 12.0 6.8 32.7 4.0 11.1 4.9 17.2 4.6 7.4 6.4 11.1 16.3 31.6 66.3 5.0 11.2 4.0 6.5  Consistent Zonation within the high-grade zone  Over 145 drill holes completed in the high-grade zone, between section 1000mSE to 2000mSE, representing over 65,000 metres of drilling 9 TSX.V: PRB

Potential for New Discoveries LAND POSITION • Over 350 square km of unexplored ground within the Borden and associated Belts • High potential for new discoveries 10 TSX.V: PRB

Chapleau Area Property Land acquisition is a priority for 2014 BORDEN GOLD - MAP 11 TSX.V: PRB

Borden Gold - Resource, January 2013 Pit-constrained Resource of 4.3 MMoz at 1.03 g/t Au average grade at a 0.5 g/t Au cut-off  85% of the total Pit Constrained resource is in the Indicated category PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE, JANUARY 2013* Resources Category Cut-off Grade (g/t gold) Tonnes (000’s) Grade (g/t gold) Gold (oz) (000’s) Indicated Inferred 1.5 1.5 14,452 2,545 2.34 2.61 1,086 214 Indicated Inferred 1.0 1.0 37,600 6,351 1.64 1.77 1,982 361 Indicated Inferred 0.5 0.5 112,844 18,036 1.02 1.08 3,686 625 *Mineral Resources Statement, P&E Mining Consultants Inc. Discovery Cost < US$4/oz 12 TSX.V: PRB

Advancing Borden Gold Discovery in 2010 Infrastructure NI 43-101 Resource Estimate (3) Size Grade Advanced metallurgy Mining team Strong treasury     Expansion of the high-grade zone Land acquisition Updated NI 43-101 Resource Estimate Preliminary Economic Assessment (PEA) 13 TSX.V: PRB

Contact Information David Palmer, Ph.D., P.Geo. President and CEO Patrick Langlois, MBA, CFA Vice President, Corporate Development Head Office 56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5 Tel: Fax: Email: Website: (416) 777-6703 (416) 777-6705 14 TSX.V: PRB

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