Other Projects

Dubuisson

The Dubuisson property is located in Dubuisson Township, approximately 7 kilometres west of downtown Val-d’Or. It consists of 31 contiguous claims covering a surface area of approximately 748 hectares.

The Property is bordered to the east by the Goldex Mine property which has 43-101 compliant proven and probable reserves of 7.6 Mt at 1.5 g/t Au for 373,000 ounces, measured and indicated resources of 30.1 Mt at 2.0 g/t Au for 1.9M ounces and inferred resources of 26.1Mt at 1.6 g/t Au for 1,4M ounces (Agnico Eagles Mines Website - Goldex December 31, 2013 Reserves and Resources). It also encompasses the Quebec Explorers Gold Deposit. It straddles a 5-km segment of the prolific Cadillac–Larder Lake Gold Break, a major gold-bearing structure in the Abitibi. The gold system locally exceeds 20 metres in thickness and can be traced for more than 800 metres along strike.

In July 2010, the Company announced it had entered into a joint venture with Agnico-Eagle Mines Ltd. on its 100%-owned Dubuisson property. Under the terms of the agreement, Agnico Eagle acquired 51% of the rights, title and interest in the property for $100,000 in cash and by issuing 15,000 shares of Agnico Eagle for a total value of approximately $1M.

As part of the Agreement and following the exercise of the option, Agnico Eagle may acquire an additional interest, which would bring Agnico Eagle up to 70% and Probe Metals to 30% interest in the property, by completing a bankable feasibility study. Agnico Eagle will act as the operator for all exploration carried out on the property during the option period.

All of the claims are in good standing.