Toronto, April 23, 2008 � The Directors of PROBE MINES
LIMITED (TSX-V: PRB) ("Probe") are pleased to announce that an AeroTEM III helicopter-borne
magnetic/electromagnetic survey has been completed on the Company's
100%-owned Victory Property, located less than 30 kilometres to the east of
the Eagle One nickel-copper-PGE discovery in the McFauld's Lake area. The
AeroTEM survey was flown in order to bring numerous conductors identified
in previous geophysical surveys to drill readiness.
The survey, comprising approximately 1,400 line kilometers of
high-resolution, helicopter-borne AeroTEM III magnetics and
electromagnetics, was completed on the Victory property during March. Results
are still pending, and will be released as soon as they are received. The
Victory property comprises 484 claims covering 7,744 hectares within a 60
kilometre long greenstone belt associated with the McFauld's Lake Belt. In 2005 Probe Mines flew the
first airborne survey over the Victory volcanics and acquired all of the
priority bedrock conductors. The new high-resolution survey will provide
deeper penetration and better discrimination of the targets, and will be
used to advance the conductors to a drill-ready stage. A drilling program
is currently being planned for Summer 2008, following drilling of Probe's
McFauld's West property, which is scheduled to begin at the end of May.
Previous airborne surveys have identified in excess of 40 conductors on the
property, with past drilling focused on volcanogenic massive sulphide (VMS)
targets. Owing to the discovery of high-grade nickel mineralization in the
McFauld's Belt, the Company is reevaluating its previous geophysical
results on the Victory project in areas where mafic rocks were intersected
during drilling.
The McFauld's area is receiving considerable attention with continuing
reports of high-grade nickel-copper-PGE mineralization from the Eagle One
discovery. The most recent drilling intersection returned the highest grade
material to date averaging 6.25% nickel, 2.75% copper, 1.85 g/t platinum,
10.23 g/t palladium, 3..0 g/t gold and 10.3 g/t silver over 46.6 meters. Probe
Mines has been established in the McFauld's Lake
area since 2003 and also owns the Tamarack property, under option to Mantis
Mineral Corp, and the McFauld's West project, situated less than 450m from
the Eagle One discovery. In addition to Noront's nickel-copper discovery,
the McFauld's Lake area is host to numerous volcanic-hosted Cu-Zn
discoveries, one of which is located on the Tamarack claims. Management
believes the area has the potential to develop into Canada's next major
mining camp.
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. In addition to the Victory project,
exploration is being conducted on the 100%-owned McFauld's West Project,
situated less than 450 metres from the site of Noront's significant new
nickel-copper discovery, and the Tamarack Project, under option to Mantis
Mineral Corp. Probe also has an option agreement on its Bristol Township
gold project with West Timmins Mining Inc., adjacent to the million-plus
ounce gold deposit owned by Lake Shore Gold Corp and 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.
The AeroTEM survey was contracted to Aeroquest International through
Billiken Management. 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, or contact:
David Palmer, Ph.D.
President
Tel: (416) 777-6703
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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