Probe Mines Limited
TSX VENTURE : PRB

Probe Mines Limited

November 30, 2006 07:00 ET

Probe Mines Retains Karen Willoughby for Investor Relations Services

TORONTO, ONTARIO--(CCNMatthews - Nov. 30, 2006) - The Directors of Probe Mines Limited (TSX VENTURE:PRB) are pleased to report that they have retained Ms. Karen Willoughby to provide investor relations services for the company. Ms. Willoughby has no relationship, direct or indirect interest, or right to acquire such an interest in Probe Mines and will actively focus on shareholder and investment specialist communications. Ms. Willoughby will work from her Toronto-based office.

Commencing immediately, Ms. Willoughby will provide investor relations services for an initial period of twelve months ending October 31, 2007, the arrangement may be terminated by either party with 30 days advance written notice after six months. In consideration of her services, Ms. Willoughby will be paid an annual compensation of $44,000, paid on a monthly basis, and will be reimbursed for authorized expenses. Ms. Willoughby will also be granted incentive stock options to purchase up to 200,000 shares at an exercise price of $0.20 per share, expiring on May 19, 2011, subject to required regulatory approvals. The options will vest in stages over a 12-month period, with no more than one-quarter of the options vesting in any three-month period.

Ms. Willoughby, based out of Toronto, Ontario, provides clients with a comprehensive investor relations strategy, focusing on strengthening lines of communication between her client, its shareholders and potential new shareholders, while increasing market awareness throughout the investment community.

About the Company:

Probe Mines Limited is a Canadian base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe has only recently acquired the Greenlaw and Norway Lake base metal projects, which both host numerous base metal occurrences and untested conductors. Probe also owns the Tamarack project in the James Bay Lowlands, Ontario, site of a significant copper VMS discovery, and a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, slated for production in 2008. 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'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.

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
    Website: www.probemines.com
    or
    Karen Willoughby
    Investor Relations
    1-866-365-4724