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Toronto, November 15, 2007 � The Directors of PROBE MINES
LIMITED (TSX-V: PRB) ("Probe") are pleased to announce that Dr. John B. Gammon, former Assistant
Deputy Minister of Mines for Ontario, has been elected to the Board of
directors, subject to regulatory approval. In addition to Dr. Gammon, the
Board of directors now consists of Patrick Reid, Chairman, Harry Hodge and
David Palmer.
The Company welcomes Dr. John B. Gammon as a source of both technical and
corporate advice. John holds a B.Sc. (honours) degree in Geology from the
University of Leicester, UK, and a Ph.D in Geology from Durham University,
UK. After graduation, John conducted postdoctoral research at the
Universities of California and Princeton as the recipient of a Senior
Visiting Fulbright Fellowship. For the next twenty years he was employed
in successively senior positions in mineral exploration management with
among other companies, Falconbridge. John spent seventeen years with the
Government of Ontario, Canada, in the Ministry of Northern Development and
Mines, the first two as Director, Mineral Development and Lands Branch and
then as Assistant Deputy Minister, Mines and Mineral Division. He was
senior advisor on mining issues to five successive governments. After
retiring from government in 2005, John established the "Centre for
Excellence in Mining Innovation" at Laurentian University. He is also
the Founder of the World Mines Ministries Forums, Toronto. He currently
sits on the Boards of Gold Summit Mines, Sherwood Copper Corporation,
Ascendant Copper Corporation and Strait Gold Corporation. In appreciation
for services to mining and Northern Ontario, John was awarded an Honorary
Doctor of Laws from Laurentian University in 2006.
On November 15, 2007, Dr. Gammon was granted options to acquire up to
200,000 common shares of the Corporation exercisable at a price of $0.74 per
share for a five-year term. Directors and officers are not paid any
salaries or fees for acting as such. The options were granted pursuant to a
stock option plan approved by shareholders on October 21, 2002.
About Probe Mines:
Probe Mines Limited is a Canadian base and precious metal exploration
company with a portfolio of highly prospective mineral properties. The
Company is currently focused on the McFauld's Lake area where it owns 931
claims covering almost 15,000 hectares. This includes a 100% interest in 12
claims (192 hectares) situated less than 450 metres from the site of
Noront's significant new nickel-copper discovery and represents one of the
closest properties to the discovery. Probe currently has joint venture
agreements on its Bristol Township gold project (West Timmins Mining Inc.)
and Tamarack base metal project (Mantis Minerals Corp.). The Bristol
Project is adjacent to the million-plus ounce gold deposit owned by Lake
Shore Gold Corp., which has recently announced a positive pre-feasibility
study for the project. Probe also maintains a 5% net smelter royalty on a
portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, slated for
production in 2008. The company's shares trade on the TSX Venture Exchange
under the symbol PRB.
Investors are invited to visit the Probe Mines IR Hub at http://www.agoracom.com/IR/Probemines
where they can post questions and receive answers or review questions and
answers already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to PRB@agoracom.com where
they can also request to be added to the investor e-mail list to receive
all future press releases and updates in real time.
To find out more about Probe Mines Limited, visit our website at http://www.probemines.com
, or contact:
David Palmer, Ph.D.
President
Tel: (416) 777-6703
Harry J. Hodge, P.Eng.
Director
Tel: (416) 363-4376
Karen Willoughby
Investor Relations
Tel: (866) 365-4724
Forward-Looking Statements
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. This News Release includes certain "forward-looking
statements". All statements other than statements of historical fact,
included in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration results, and
future plans and objectives of Probe, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future
events could differ materially form those anticipated in such statements.
Important factors that could cause actual results to differ materially from
Probe's expectations are exploration risks detailed herein and from time to
time in the filings made by Probe with securities regulators.
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