Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

December 09, 2014 16:05 ET

Probe Mines President & CEO, Dr. David Palmer, Honoured with PDAC's Bill Dennis Award

TORONTO, ONTARIO--(Marketwired - Dec. 9, 2014) - Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is very pleased to announce that President and CEO, Dr. David Palmer, has been named the recipient of the Prospectors & Developers Association of Canada (PDAC) Bill Dennis Award for a Canadian mineral discovery or prospecting success for 2015. Dr. Palmer is receiving this award for the Company's Borden Gold discovery located near Chapleau, Ontario. The award will be presented at the PDAC's awards evening on Monday, March 2, 2015 during the PDAC 2015 Convention in Toronto. The annual awards honour six industry leaders for their achievements in the mineral exploration and mining sector for domestic and international mineral discovery, mine development, Aboriginal achievement, environmental and social responsibility, and distinguished service.

"This prestigious award is shared by every member of the Probe team," said David Palmer, President and CEO of Probe Mines. "From our technical team that has continued to advance and improve this deposit in the four years since its discovery, to the prospectors who brought us the property, Mike Tremblay and Jack Robert; Brian Atkinson, former OGS Regional Resident Geologist (Timmins); our Board of Directors; management and support teams; consultants and the First Nations and Chapleau communities - none of this would have been possible without them. On behalf of the entire Probe team, I would like to thank the PDAC for this incredible honour. As discoveries become scarcer, Borden exemplifies the importance of grass roots exploration and the potential that still exists within Canada to find high-quality and relevant deposits."

Probe's Chairman, Jamie Sokalsky, stated, "We are proud of the tremendous accomplishments of David and his team. While this has unquestionably been a group effort, it's David's determination that has taken the Borden Gold project from an exploration opportunity to an important new gold discovery. On behalf of the board, I would like to extend my thanks and congratulations to our President and CEO, Dr. David Palmer, on receiving the Bill Dennis Award."

The Borden Gold Project is an exciting and important new gold discovery which continues to evolve, grow and improve with continued exploration. Located in a previously unexplored area of Ontario, Borden could potentially herald the beginning of a significant new gold district in Canada. The June 2014 technical report estimated a high-grade gold resource with potential for Underground extraction in the Borden Gold Project totaling: 1.60 million ounces of gold in the Indicated Resource category (9.3 million tonnes grading 5.39 grams of gold per tonne); 0.43 million ounces of gold in the Inferred Resource category (3 million tonnes grading 4.37 grams of gold per tonne) at a 2.5 g/t Au cut-off. Additionally, the project contains an open pit-constrained resource with 2.3 million ounces of gold in the Indicated Resource category (grading 1.03 grams per tonne) at a 0.5g/t Au cut-off. The deposit still remains open for expansion. For additional information on the Mineral Resource Update, please refer to the Company's NI 43-101 technical report Mineral Resources Update Borden Gold Project dated June 10, 2014 which is available on SEDAR at www.SEDAR.com under the Company's profile.

Yves Dessureault, Ph.D., P.Eng., is the Qualified Person for Probe Mines. The contents of this news release have been reviewed and approved by Independent Qualified Persons Walter Allan Dzick, P.Geo., of Snowden.

About Probe Mines:

Probe Mines Limited is a Canadian precious metals exploration company whose key asset is the Borden Gold project near Chapleau in Ontario, Canada. The Company is well-funded to continue advancing and growing a significant gold resource on its Borden Gold project. Probe controls a large land package along the Borden Belt representing over 400km2 of exploration ground. The Company also has a 100% interest in the Black Creek chromite deposit located in Northern Ontario.

On behalf of Probe Mines Limited,

Dr. David Palmer,

President & Chief Executive Officer

Forward-Looking Statements

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. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. 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. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Shares Issued: 84,784,727

Contact Information

  • Probe Mines Limited
    Karen Willoughby
    Director of Corporate Communications
    Tel: (866) 936-6766
    Email: info@probemines.com

    Probe Mines Limited
    Patrick Langlois
    Vice President, Corporate Development
    Tel: (416) 777-6703
    Email: patrick@probemines.com