TORONTO, ONTARIO--(Marketwire - Sept. 26, 2012) - Probe Mines Limited (News - Market indicators) ("Probe" or the "Company") would like to invite shareholders and interested parties to visit us at the Toronto Resource Investment Conference on September 27th and 28th, 2012.
The Toronto Resource Investment Conference is a two-day event held at the Sheraton Toronto Centre, which features a world class line-up of speakers, exhibitors, and workshops focused on the mineral resource sector.
| Location: |
| Sheraton Toronto Centre |
| 123 Queen Street West, Toronto, Ontario |
| |
| Exhibit Hours: |
| Thursday, September 27: 10:30 am to 5:00 pm |
| Friday, September 28: 10:30 am to 5:00 pm |
Members of Probe's senior management team will be available at Booth 220 to meet shareholders, potential investors, analysts, and brokers to discuss recent activities, including updates on the Company's multi-million ounce Borden Lake gold deposit.
Borden Lake Project
Probe has set an aggressive pace, transforming a virtually unexplored property with untapped potential into an important new gold discovery in Ontario in less than 18 months.
Based on 159 holes, the Updated Mineral Resource Estimate released on April 2, 2012, established significant improvement and expansion of the Borden Lake Gold Zone; with almost 70% of the resource in the indicated category.
- Borden Lake gold zone is estimated to contain a Global Indicated Resource of 4,051,000 ounces of gold averaging 0.71 g/t gold and an additional Inferred Resource of 1,796,000 ounces of gold averaging 0.62 g/t gold, at a 0.3 g/t cut-off grade.
- Borden Lake gold zone estimated to contain a Pit Constrained Indicated Resource of 2,735,000 ounces of gold averaging 1.04 g/t gold and an additional Inferred Resource of 683,000 ounces of gold averaging 0.93 g/t gold, at a 0.6 g/t cut-off grade;
- A distinct, higher-grade zone with an Indicated Resource of 1,498,000 ounces of gold averaging 1.46 g/t gold and an additional Inferred Resource of 407,000 ounces of gold averaging 1.30 g/t gold, at a 1.0 g/t cut-off grade, has the potential for alternative development scenarios with lower CAPEX and less sensitivity to gold price.
With four drills turning and over 240 holes now completed, Probe is focused on expanding and upgrading the deposit while advancing the project towards a potential development stage.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $27MM in treasury and a portfolio of highly prospective mineral properties. The Company is actively exploring a significant new gold resource on its Borden Lake project near Chapleau, Ontario and owns 840 claims covering approximately 13,440 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec and a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project. The Company's shares trade on the TSX Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release. To find out more about Probe Mines Limited, visit our website at www.probemines.com.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 65,021,533
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 
