08:36 AM EST, 12/18/2024 (MT Newswires) -- Probe Gold ( PROBF ) on Wednesday said it will acquire the Stella property from Leopard Lake Gold (LP.CN).

The property is to the east of the company's Novador Development Project in Val-D'Or, Quebec. It spans 52 contiguous claims covering 2,987 hectares.

Probe will acquire the property for $250,000 of shares. It is subject to a 3% net smelter royalty.

"This tuck-in acquisition is a highly strategic addition to our portfolio. It aligns perfectly with our goal of consolidating the underexplored Val-d'Or East region and significantly enhances the high-grade exploration potential of our Novador Development Project," said Probe CEO David Palmer. "The acquisition also brings strong operational synergies with our Croinor and Megiscane properties, where recent geophysical and soil surveys have identified promising exploration targets that appear to extend onto the Stella property."