Investors

Letter of Transmittal with Respect to the Common Shares of Adventure Gold Inc.

This Letter of Transmittal is for use by registered holders ("Registered Adventure Shareholders") of common shares (the "Adventure Shares") of Adventure Gold Inc. ("Adventure") in connection with the proposed plan of arrangement (the "Arrangement") involving the acquisition of all of the outstanding Adventure Shares by Probe Metals Inc. ("Probe"), which is to be considered at the special meeting of Adventure Shareholders to be held on June 3, 2016, or any adjournment(s) or postponement(s) thereof (the "Meeting").

On the Effective Date, all right, title and interest of the Adventure Shareholders in the Adventure Shares will be transferred to Probe and the Adventure Shareholders (other than Dissenting Shareholders) will be entitled to receive, in exchange for each Adventure Share, 0.39 fully paid and non-assessable common shares in the capital of Probe (each whole share a "Probe Share"). Subject to the approval of the Arrangement by the Adventure Shareholders, the final order of the Superior Court of Québec approving the Arrangement under section 192 of the Canada Business Corporations Act and certain other conditions described in the Circular, the Effective Date is anticipated to be shortly after the Meeting.

In order for Adventure Shareholders to receive Probe Shares for their Adventure Shares, Adventure Shareholders are required to deposit the certificates representing the Adventure Shares held by them with the Depositary. This Letter of Transmittal, properly completed and duly executed, together with all other required documents, must accompany all certificates for Adventure Shares deposited for Probe Shares (the "Deposited Shares") pursuant to the Arrangement.