Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

September 16, 2009 08:00 ET

Probe Mines Announces Commencement of Drilling on Its West Timmins Gold Project by West Timmins Mining Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2009) - The Directors of Probe Mines Limited (TSX VENTURE:PRB) ("Probe") are pleased to announce that the Company has received notification from West Timmins Mining Inc. ("WTM") that WTM has commenced drilling operations on Probe's 100%-owned West Timmins (Beach) property. The West Timmins Gold Project is located less than 800 metres from Lakeshore Gold Corp's ("Lakeshore") Timmins Mine Project and the Rusk/Porphyry Zone discovery where an 83.4 metre intersection averaging 12.75 g/t gold has been reported by Lakeshore-WTM.

Previous drilling on Probe's claims immediately adjacent to the Timmins Mine and new Porphyry gold discovery identified alteration similar to that associated with peripheral phases of Lakeshore's-WTM's high-grade porphyry zone on their Thunder Creek property. The current drilling program will focus on testing an area of anomalous gold mineralization located in porphyries adjacent to the same sediment-volcanic contact which hosts the Thunder Creek discoveries. Drilling will also target the eastern continuation of the Bristol Fault, which is spatially associated with the 1.2 million ounce Timmins West Mine slated to enter production in 2010.

Dr. David Palmer, President of Probe states "We are very encouraged by the importance our property has been given by WTM. This drilling program follows very closely on the heels of the Porphyry Zone discovery and suggests that WTM recognizes the strong potential for gold mineralization similar to that discovered at Thunder Creek to be hosted by porphyry bodies on our claims."

The West Timmins Gold Project consists of two blocks totaling 832 hectares in 52 claims and is strategically located adjacent to Lakeshore's 1.2M ounce Timmins Mine Project and less than 800 metres from Lakeshore's and WTM's recent high-grade gold intersection (83.4m at 12.75 g/t Au) in the Rusk Zone on the Thunder Creek Joint Venture. WTM has an option to earn a 55% interest in the West Timmins Gold Project by completing $1,000,000 in exploration expenditures and making cash and share payments over a 4-year period ending in June 2010. WTM can earn a further 15% by presenting a 43-101-compliant resource report within two years of vesting their 55% interest and making additional cash and share payments.

About Probe Mines:

Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $4.0M in treasury and 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, including joint venture properties with Noront Resources covering 87 of these claims. Recently the Company announced the discovery of the high-grade Black Creek chromite horizon on its joint venture project. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 33,516,472 shares issued and outstanding, which 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". 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.

Shares Issued: 33,516,472

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.

Contact Information

  • Probe Mines Limited
    David Palmer
    President
    (416) 777-6703
    or
    Probe Mines Limited
    Karen Willoughby
    Investor Relations
    (866) 365-4724