TSX.V: PRB

Borden Discovery Outcrop

Building Ontario’s Newest

Gold District

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.

DECEMBER 2014

TSX.V: PRB

Cautionary Notes

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Forward Looking Information

This Presentation contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation.

Forward-looking information may include, but is not limited to, the anticipated production and developments in our operations in future periods, information with respect to our

planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral reserves and resources including the 2014 Borden Gold

Mineral Resource estimate, realization of mineral reserve and resource estimates and timing of development of our Borden Gold project, costs and timing of future exploration,

results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic

viability of the Borden Gold Project, timing and receipt of approvals, consents and permits under applicable legislation, our executive compensation approach and practice, the

composition of our board of directors and committees and adequacy of financial resources. Wherever possible, words such as “plans”, “expects”, “projects”, “assumes”,

“budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar expressions or statements that certain actions, events or

results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify

forward-looking statements and information. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking information to

the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with

respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be

forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or

results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in our Annual Information Form dated

September 15, 2014 filed on SEDAR at www.sedar.com. Forward-looking information is based on the expectations and opinions of our management on the date the

statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise.

We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by

applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.

National Instrument 43-101

Technical and scientific information contained herein relating to the Projects is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports (“Reports”)

Mineral Resources Update Borden Gold Project dated June 10, 2014. We have filed the Reports and Update under our profile at www.sedar.com. Technical and scientific

information not contained within the Reports for the Projects and contained in this Presentation has been reviewed and approved by Independent Qualified Persons Walter

Allan Dzick, P.Geo., of Snowden, whom is an independent “qualified person” under NI 43-101. The Technical Reports and Update are available for revision on SEDAR at

www.SEDAR.com under the Company’s profile.

This Presentation uses the terms “indicated resources” and “inferred resources”. Although these terms are recognized and required by Canadian regulations (under NI 43-

101), the United States Securities and Exchange Commission does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated

economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant

issues. There is no guarantee that all or anypart of the mineral resource will be converted into mineral reserves.

In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an

inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre

feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred

resource exists, or is economically or legally mineable.

Currency

Unless otherwise indicated, all dollar values herein are in Canadian $.

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Investment Highlights

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Borden: A Large and Growing High-Grade Gold Project in Ontario, Canada 100%-owned project, high quality, low risk project

High-Grade Underground Constrained Resource1

• Indicated category: 1.6 MMoz @ 5.39 g/t Au

• Inferred category: 0.4 MMoz @ 4.37 g/t Au

Open Pit-Constrained Resource1

• Indicated category: 2.3 MMoz @ 1.03 g/t Au

Initiate infill drill program on the “wedge” claim to expand high-grade resource

Excellent expansion potential, the deposit is open in both directions

Experienced Management Team Appointment of Jamie Sokalsky as Chairman, former Barrick’s President & CEO

Strong history in exploration, mining engineering & capital markets

Strong Financial Position Cash position ~$15 million

Well-funded to continue growing the existing resource, and advancing the project through engineering

and permitting

Goldex Royalty: Production milestone payment of $4.0 million expected Q2-2015

Potential for New Discoveries 786-square-kilometres of unexplored ground in the Borden Gold District

(1) Source: NI 43-101 technical report Mineral Resources Update Borden Gold Project dated June 10, 2014.

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Land Transaction Highlights

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PROBE MINES CONSOLIDATES 100% OWNERSHIP OF THE BORDEN GOLD PROJECT

AND ACQUIRES KEY STRATEGIC LAND PACKAGE TO GIVE EXCLUSIVE CONTROL

OVER BORDEN GOLD DISTRICT

Probe Mines acquired:

3 option claims – surface and mineral rights

33 additional patent claims – surface and mineral rights – in and around the existing mineral

resource

450 mineral rights/claims to consolidate the Borden Gold District

Royalty-free on the high-grade resource and all the exploration ground

Excellent potential to expand and grow the high-grade zone

Capitalize on exploration upside of the Borden Gold project

Strengthens land position in the Borden Gold District and all of its untapped exploration

potential. When combined with the East Limb property, the 786-square-kilometre property

gives Probe 100% ownership of the entire 70 kilometre strike length of the Borden Belt.

Purchase price: CAD$25 million plus 6 million common shares

The Company’s balance sheet remains strong following the acquisition and an aggressive

program is planned for exploration of the deposit during 2015

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Jamie Sokalsky Chairman of the Board Former President & Chief Executive Officer of Barrick Gold Corporation

David Palmer, Ph.D., P.Geo. President, Chief Executive Officer & Director Over 25 years in the Mining Industry

Yves Dessureault, Ph.D., MBA, P.Eng. Chief Operating Officer Over 25 years of experience in Operations, Project Evaluation & 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

Management Team

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TSX.V: PRB

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Analyst Coverage

BMO Capital Markets Andrew Kaip

Cormark Securities Tyron Breytenbach

Edgecrest Capital Ali Khan

Euro Pacific Canada Ryan Walker

Mackie Research Barry Allan

Macquarie Capital Markets Michael Gray

Raymond James David Sadowski

RBC Capital Markets Sam Crittenden

Scotia Capital Mike Hocking

Major Shareholders Holdings (I&O)

Institutional / Strategic Investors:

Agnico Eagle, Sprott, Van Eck,

US Global, 1832 Asset Management,

AGF, RBC, Goodman, Fidelity,

Mackenzie, BMO, etc.

~ 50%

Management & Directors 5%

Probe Mines Limited Symbol: PRB

Listed Exchange Toronto Venture

Market capitalization $236.1 million

Shares outstanding (basic) 90.8 million

Shares outstanding (fully diluted) 104.3 million

Cash Balance ~$15.0 million

52 week trading range $1.96 - $3.95

Recent Price (12/09/14) $2.60

Corporate Summary

TSX.V: PRB

Ontario: Mining Friendly Jurisdiction

BORDEN GOLD

Large resource anchoring a new district

100%-owned

Excellent expansion potential; High-Grade Zone still open along strike

Development flexibility and potential for low CAPEX

Favourable and well-developed infrastructure

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BLACK CREEK CHROMITE

Strategically located between Cliffs Natural Resources’

Black Thor and Big Daddy deposits

High-Grade Chromite deposit at surface

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• Close to numerous

mining districts

• Excellent access &

local infrastructure

Only 9 km from Chapleau

and Power Lines

1 km to Highway

10 minutes to Rail

• Within the Kapuskasing

Structural Zone

Underexplored

• Community

Receptive to new industry

• First Nations

Agreement in place

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New Gold District

BORDEN GOLD – REGIONAL GEOLOGY-LOCATION

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High-Grade Gold Zone Expanding

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BORDEN GOLD – DRILL PLAN

Expansion potential, the deposit is open in both directions

Infill drill program on the “wedge” claim to expand high-grade resource

Since discovery: 624 drill holes completed, representing over 224,000 metres

Expansion and

infill winter drill

program 2015

Infill drill program

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Hole Section

Width

(m)

Gold

(g/t)

BL14-583 1000m SE 39.5 7.0

including 16.0 12.4

BL12-256 1200m SE 51.0 10.3

including 25.0 17.8

BL13-562 1600m SE 42.9 4.9

including 8.8 17.2

BL14-573 1850m SE 39.0 16.3

including 19.4 31.6

including 8.4 66.3

BL14-621W 2150m SE 21.0 7.0

including 13.0 10.5

BL14-611 2400m SE 71.0 3.5

including 4.7 25.1

Consistent Zonation within the high-grade zone over

1.7 kilometres in strike length and still open for

expansion

183 drill holes completed in the high-grade zone,

between section 1000mSE to 2600mSE, representing

over 86,000 metres of drilling

High-Grade Continuity

BORDEN GOLD – LONG SECTION

Expansion and

infill winter drill

program 2015

Infill drill program

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High-Grade Zone Continuity

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Hole Section

Width

(m)

Gold

(g/t)

BL13-358 900m SE 36.5 4.5

including 11.7 11.5

BL14-583 1000m SE 39.5 7.0

including 16.0 12.4

BL13-421 1100m SE 29.4 5.9

including 6.5 15.3

BL12-256 1200m SE 51.0 10.3

including 25.0 17.8

BL13-399 1250m SE 26.1 8.5

including 17.7 12.0

BL13-420 1300m SE 47.0 6.8

including 8.0 32.7

1350m SE Infill drill

program on the

“wedge” claim

1400m SE

1450m SE

BL13-455 1500m SE 44.4 4.0

including 14.3 11.1

BL14-562 1600m SE 42.9 4.9

including 8.8 17.2

BL13-378 1700m SE 25.0 4.6

including 12.9 7.4

BL13-402 1800m SE 27.1 6.4

including 9.2 11.1

BL14-573 1850m SE 39.0 16.3

including 19.0 31.6

Section 1300m SE

Section 1600m SE

• Strong drill results

on either side of

the “wedge” claim

• The cross-sections

of the high-grade

zone are showing

thickening and

strengthening of

mineralized

Intervals at the

core

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Land Position – Borden Gold

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Note: The 36 surface rights claims acquired on December 10, 2014, will be transferred to the Company when the consent is

obtained from the Planning Act (Ontario)

CLAIM FABRIC

• Sufficient ground for

the future infrastructure

including underground

development

• Proceeding with the

application of selected

permits for the project

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• Evaluating 786-square-

kilometres of unexplored

ground within the Borden

Belt

• $5 million budgeted towards

regional exploration

• Successfully delineated

geochemical anomaly along

the Belts

• Airbone geophysical, soil

geochemical and ground

geophysical surveys

completed in the last 12

months

• Multiple drill targets

identified, planning 5,000

metres drill program

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Boden Gold District

PROPERTY MAP – REGIONAL EXPLORATION

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UNDERGROUND CONSTRAINED NI 43-101 RESOURCE ESTIMATE*

Resources

Category

Cut-off Grade

(g/t gold)

Tonnes

(000’s)

Grade

(g/t gold)

Gold (oz)

(000’s)

Indicated

Inferred

3.5

3.5

5,886

1,521

6.80

5.79

1,286

283

Indicated

Inferred

3.0

3.0

7,222

2,125

6.14

5.06

1,426

346

Indicated

Inferred

2.5

2.5

9,262

3,034

5.39

4.37

1,604

426

Indicated

Inferred

2.0

2.0

12,985

4,317

4.48

3.73

1,870

518

Mineral Resources, June 2014

OPEN PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE*

Resources

Category

Cut-off Grade

(g/t gold)

Tonnes

(000’s)

Grade

(g/t gold)

Gold (oz)

(000’s)

Indicated

Inferred

1.0

1.0

27,901

55

1.50

1.40

1,349

2

Indicated

Inferred

0.5

0.5

70,301

247

1.03

0.80

2,322

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* Mineral Resources Statement, Snowden Mining Industry Consultants Inc.

* For additional information on the Mineral Resource Update, please refer to the Company’s NI 43-101

technical report Mineral Resources Update Borden Gold Project dated June 10, 2014, available on SEDAR at

www.SEDAR.com under the Company’s profile.

TSX.V: PRB

Advancing Borden Gold

Discovery in 2010

100% owned

Infrastructure

NI 43-101 Resource Estimate (4)

Size

Grade

Advanced Metallurgy

Environmental Baseline Studies

Community Support

Mining Team

Strong Treasury

Initiate infill drill program to expand high-grade resource (Q4-2014)

Winter drill program - Expansion and infill (Q1-2015)

Updated NI 43-101 Resource Estimate (H1-2015)

Preliminary Economic Assessment (PEA) (H1-2015)

Ongoing Regional Exploration

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TSX.V: PRB

Phone: (416) 777-6703

Email: info@probemines.com

Website: www.probemines.com

Head Office

56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5

Building Ontario’s Newest Gold District

David Palmer President & Chief Executive Officer Yves Dessureault Chief Operating Officer Patrick Langlois Vice President, Corporate Development