Probe Mines to Participate in the San Francisco Hard Assets Investment Conference November 27-28; Analyst Coverage Initiated

TORONTO, ONTARIO--(Marketwire - Nov. 22, 2011) - Probe Mines Limited (TSX VENTURE:PRB) is pleased to announce that the Company will participate in the 2011 San Francisco Hard Assets Conference at the San Francisco Marriott Marquis on Sunday, November 27 and Monday, November 28, 2011. Exhibit hours will be from 8:00am to 7:15pm on Sunday and from 8:00am to 6:15pm on Monday.

Participants are invited to visit Probe Mines at booth #304, where Company representatives will be available to provide information related to the Probe's ongoing development activities. More information on the San Francisco Hard Assets Conference, and how to attend, can be found at the conference website address www.hardassetssf.com.

Probe's primary focus continues to be the Borden Lake Gold Project, located near Chapleau, Ontario. The Company recently released an initial NI43-101 Resource Estimate with an Indicated Gold Resource of 0.3 million ounces (0.82 g/t Au) plus an Inferred Resource of 3.8 million ounces (0.69 g/t Au) and an Indicated Silver Resource of 0.323 million ounces (0.9 g/t Ag) plus an Inferred Resource of 5.0 million ounces (0.9 g/t Ag).

Three analysts have recently initiated coverage on the Company: Jennings Capital analyst, Peter Campbell; Mackie Research Capital analyst Dale Mah; and Northern Securities analyst, Kwong-Mun Achong Low. Contact information for each is available at www.probemines.com.

About Probe Mines:

Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $35MM in treasury and a portfolio of highly prospective mineral properties. The Company is actively exploring a significant new gold resource on its Borden Lake project near Chapleau, Ontario and owns 875 claims covering approximately 14,000 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit. Probe is also exploring its Cree Lake gold project in Ontario's Swayze Belt, under option from Mantis Mineral Corp, and 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. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project. 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

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

PRB Shares Issued: 62,870,980