Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

January 19, 2012 09:54 ET

Probe Mines to Participate in the Vancouver Resource Investment Conference January 22-23; Attendance Confirmed for Additional Conferences

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2012) - Probe Mines Limited (TSX VENTURE:PRB) is pleased to announce that the Company will participate in the 2012 Vancouver Resource Investment Conference at the Vancouver Convention Centre West located at 1055 Canada Place in Vancouver. The conference takes place on Sunday, January 22 and Monday, January 23; exhibit hours are from 10:00am to 5:00pm.

Participants are invited to visit Probe Mines at booth #807, where Company representatives will be available to provide information related to the Probe's ongoing exploration activities. More information on the Cambridge Show, and how to attend, can be found at the conference website address www.cambridgehouse.com.

In addition to its annual appearance at the PDAC Conference in March, Probe has also been invited to a number of very prestigious conferences over the upcoming months, including BMO Capital Market's 2012 Global Metals & Mining Conference in Florida February 26 - 29; the Precious Metals Summit in Geneva and the European Gold Forum in Zurich, both of which take place in April.

Probe's primary focus continues to be the Borden Lake Gold Project, located near Chapleau, Ontario. The Company recently released an initial NI 43-101 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).

Analysts initiating coverage on the Company include: Royal Bank Capital Markets analyst Sam Crittenden; BMO Capital Markets analyst John Hayes; Mackie Research Capital Corporation analyst Barry Allan; Jennings Capital analyst Peter Campbell; 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 $33MM 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 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.

Shares Issued: 63,613,480

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Probe Mines Limited
    David Palmer
    President
    (416) 777-6703

    Probe Mines Limited
    Karen Willoughby
    Investor Relations
    (866) 936-6766
    www.probemines.com