The Directors of PROBE MINES LIMITED (TSX VENTURE: PRB) ("Probe") are pleased to announce that a ground grid has been established on the McFauld's Lake Project, located immediately adjacent Noront Resources' high-grade nickel-copper-PGE discovery. Geophysical crews will be mobilizing to the property within the next few days to begin surveying. The geophysical program, which will utilize Insight Geophysics' deep-penetrating resistivity/induced polarization system, is expected to take two to three weeks to complete and is designed to identify targets for diamond drilling. The Company is currently negotiating a contract for a diamond drill, which will be available in early March, coinciding with the completion of the ground geophysical program.

In addition to its close proximity to the Eagle One massive sulphide discovery, the McFauld's West property has returned encouraging results from both airborne geophysical surveys and soil geochemical surveys. The property hosts two distinct magnetic anomalies to the north and northwest of the high grade nickel-copper mineralization comprising Eagle one, which resemble the Noront discovery. A recent soil mobile metal ion (MMI) geochemical survey completed over the eastern of the two magnetic anomalies on Probe's property returned significantly anomalous base and precious metal results over a 200m long section of the profile. Samples displayed highly anomalous values for nickel, copper, silver and cobalt with response ratios of up to 9.1, 36, 18 and 14.5 times background, respectively, while gold consistently showed values of 4 times background. In addition, the results show a strong internal consistency to the data suggesting that these elements, typically found in sulphide mineralized mafic-ultramafic intrusives, are traveling together and most likely derived from a unique source.

The Company is encouraged by the preliminary geophysical and geochemical results, which suggest the potential of a buried, sulphide-bearing, mafic-ultramafic intrusive. Management will continue to keep investors updated as our field programs continue.

The McFauld's area is receiving considerable attention with continuing reports of high-grade nickel-copper-PGE mineralization from the Eagle One discovery. The most recent drilling intersection returned the highest grade material to date averaging 6.25% nickel, 2.75% copper, 1.85 g/t platinum, 10.23 g/t palladium, 3.0 g/t gold and 10.3 g/t silver over 46.6 meters. Probe Mines has been established in the McFauld's Lake area since 2003 and also owns the nearby Tamarack property, under option to Mantis Mineral Corp., as well as significant holdings to the east comprising the Victory Project. In addition to Noront's nickel-copper discovery, the McFauld's Lake area is host to numerous volcanic-hosted Cu-Zn discoveries, one of which is located on the Tamarack claims, and management believes the area has the potential to develop into Canada's next major mining camp.