HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: MORE TONNAGE IS ALWAYS GOOD

MORE TONNAGE IS ALWAYS GOOD

posted on Oct 17, 2008 06:58AM

I am only posting this news because I didnt see it on the board and I believe it speaks volumes for the whole area as far as adding tonnage. Particularly for Noront due to the close proximity of the holes to our finds up to now. The more the better. This honey pot is getting bigger and better all the time.

Toronto, October 17, 2008 – The Directors of Probe Mines Limited (TSX-V: PRB) ("Probe") are pleased to announce that sampling of the remaining peridotite encountered on the McFaulds West property has commenced. Three of nine samples from the 60m intersection in hole MW08-08 returned significant and highly anomalous values in platinum, palladium and gold, including a one metre section of peridotite at 136 metres depth with a combined 2.1g/t of platinum, palladium and gold. Only representative sampling of the interval was undertaken during the drilling program and as a result core on either side of the platinum group element (PGE)-enriched zone remains to be assayed. The current sampling program will see the entire 60 metre interval split and sampled for analysis. Sampling will take approximately two days, with results expected within two to three weeks of submission. The Company will also take additional samples from the peridotite intersected in hole MW08-02, located 150 metres from hole MW08-08.

The preliminary assay results for the McFauld’s West core samples are very encouraging and suggest that the peridotite on the McFauld’s West property has the potential to host PGE mineralization in addition to other metals, such as nickel and copper. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.

Probe is currently planning follow up drilling programs on its McFauld’s Lake properties, however, scheduling has not been set. Shareholders will be updated as soon as an exploration schedule has been determined.

Options Granted

Options in respect of an aggregate of 1,000,000 common shares exercisable at $0.15 per share for a five year term were granted on October 16, 2008 to directors, staff and consultants of the Company. The options were granted pursuant to a stock option plan approved by shareholders on October 9, 2008. The new option plan reduces the number of options available for granting from 4,500,000 to 3,351,647, representing 10% of the issued and outstanding shares of the Company.

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