Probe Mines Limited

Probe Mines Limited

November 15, 2007 12:19 ET

Probe Mines Announces Appointment of Dr. John B. Gammon to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2007) - The Directors of PROBE MINES LIMITED (TSX VENTURE: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 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 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.

Forward-Looking Statements

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Probe Mines Limited
    David Palmer, Ph.D.
    (416) 777-6703
    Probe Mines Limited
    Harry J. Hodge, P.Eng.
    (416) 363-4376
    Probe Mines Limited
    Karen Willoughby
    Investor Relations