30 Page 28 Contd on pg 30 By Gregory Reynolds The acquisition of Probe Mines Lim ited by Goldcorp Inc will result in milling of the gold ore will be done in the city Probe s principal asset is the 100owned Borden Gold Proj ect located near the community of Chapleau in Northeastern Ontario approximately 160 kilometers west of Goldcorp s Porcupine Mine The T immins operation includes the 15000 tonne per day design capacity Dome Mine mill Under the agreement announced Jan19 Probe said Goldcorp of fered 01755 of a Goldcorp share per Probe share equivalent to C500 per Probe share based on the closing price of Goldcorp shares on the TSX on January 16 2015 for a total con sideration of C526 million In addition shareholders of Probe will receive shares in a newly formed company New Probe Chuck Jeannes Goldcorp s presi dent and CEO said this transaction is consistent with Goldcorp s long standing strategy of securing growth opportunities in and around our ex isting districts with a focus on low cost highquality gold production Borden is a highquality deposit that is mineable through conventional under ground mining methods Gold corp is uniquely suited to add Borden to its asset portfolio due to its proxim ity to our Porcupine operation which includes the lar ge milling facility at the Dome complex T ransporting ore to Porcupine would permitting requirements compared to a standalone development while de livering higher grade gold production to Porcupine within a relatively short development period In combination with the recentlyan nounced sale of the Wharf Mine this strategic acquisition is the latest exam ple of our commitment to upgrading the quality of Goldcorp s overall asset portfolio he said Comprising 70 kilometers of continu ous claims in a core mining district for Goldcorp the highlyprospective Borden Gold project currently has re ported under ground constrained indi cated resources of 16 million ounces resources of 04 million ounces of gold grade The deposit remains open along strike and at depth Goldcorp currently owns 84 million shares of Probe representing 93 of the basic shares issued and outstanding which will be voted in favor of the ar rangement Probe is pleased to be forming New Probe in partnership with Goldcorp to continue the success of the Probe team Chairman Jamie Sokalsky and presi dent and CEO David Palmer will con tinue in the same roles at New Probe along with members of Probe s board and management team In addition to exploring the properties in its portfolio Goldcorp looks for ward to supporting New Probe in the execution of its business plan Gold corp will capitalize New Probe with C15 million in cash and a C4 mil lion receivable related to Goldex and will retain its pro rata ownership of 93 in New Probe for a period of at least two years Conservatively valuing New Probe at cash and receivable value would provide Probe shareholders with an additional C018 per share of con sideration New Probe intends to make applica tion to list its shares on the TSXV Jamie Sokalsky chairman of Probe commented on the proposed deal W e believe this transaction is an excellent outcome for Probe share holders as it provides them with a sig value embedded in Borden In addition New Probe will be well funded and will continue to expose Probe shareholders to further poten tial exploration and development suc cess New Probe will also have an experi enced board of directors and manage resources to immediately undertake active exploration W e welcome Gold corp as a committed shareholder in New Probe and we look forward to creating ongoing value for sharehold ers David Palmer president of Probe stated Over the past four years Bor den has grown into what is widely considered to be one of the best de velopment assets in the industry and 526M Pr obeGoldcorp deal