Probe Gold Inc. has entered into a definitive agreement with Fresnillo plc for its acquisition at a valuation of C$780 million, presenting significant growth opportunities for both parties.

Target Company Overview

Probe Gold Inc. (TSX:PRB) is a Canadian gold development company primarily engaged in advancing its flagship, multimillion-ounce Novador gold project located in the Val-d’Or mining region of Québec, Canada. In addition to the Novador project, Probe holds the early-stage Detour Gold Québec project and controls an extensive land package of approximately 1,798 square kilometers, which encompasses some of the most prolific gold belts in the province.

Established to leverage the significant gold mining potential in Québec, Probe aims to develop its projects through exploration and resource advancement, positioning itself as a competitive player in the gold sector. The company's strategic focus on high-potential territories underscores its commitment to maximizing shareholder value.

Industry Overview in Canada

The gold mining industry in Canada is a vital sector of the economy, contributing significantly to national GDP and employment. Canada is recognized among the top gold-producing nations globally, with a well-established and mature mining industry characterized by