Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

March 13, 2007 07:00 ET

Probe Mines Limited to Commence Drilling on Norway Lake Zinc Property, Northwestern Ontario

TORONTO, ONTARIO--(CCNMatthews - March 13, 2007) - The Directors of PROBE MINES LIMITED (TSX VENTURE:PRB) are pleased to announce that a drill contract has been signed with Cartwright Drilling of Labrador to commence drilling operations on the Company's Norway Lake Project. The drill is being mobilized and should be on the property within the week.

The Norway Lake Project is the site of a significant zinc- and precious metal-rich volcanogenic massive sulphide (VMS) discovery, confirmed by diamond drilling in August 2006. The base and precious metal mineralized horizon, first identified in a single trenched outcrop, was intersected in nine of ten holes, representing 200m of strike length and depths between 15 metres and 87 metres. The zone is open in all directions, and induced polarization geophysical results show the horizon extending for at least 500 metres. First phase drilling results indicate the mineralized zone is thickening to the west and at depth, and is also increasing in metal content with depth. This second-phase drill program will focus on this western extension of the zone as well as other untested geophysical targets along strike.

The mineralization consists of massive to disseminated low-iron sulphides containing sphalerite-pyrite-galena-chalcopyrite hosted by highly quartz-sericite altered felsic fragmental rocks and fits the VMS model. Re-assay of drill core returned values of up to 16.8% zinc, 9.7 g/t gold (0.28 oz/t) and 118 g/t silver (3.4 oz/t) over selected intervals.

About the Company:

Probe Mines Limited is a Canadian base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe's most recent acquisitions, the Greenlaw and Norway Lake base metal projects, both host numerous base metal occurrences and untested conductors. Probe has recently signed a letter of intent with Avenue Financial Corporation to option its Tamarack project in the James Bay Lowlands, Ontario, the site of a significant copper VMS discovery. In addition, Probe has signed a joint venture agreement with West Timmins Mining Inc. on our Bristol Township Project adjacent to Lake Shore Gold Corp's million-plus ounce gold deposit. 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.

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

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.
    President
    (416) 777-6703
    or
    Probe Mines Limited
    Harry J. Hodge, P.Eng.
    Director
    (416) 363-4376
    or
    Probe Mines Limited
    Karen Willoughby
    Investor Relations
    1-866-365-4724
    Website: www.probemines.com