Probe Mines samples on m of 2.1 g/t Pt, Pd, Au

2008-10-01 08:16 ET - News Release

Mr. David Palmer reports

PROBE MINES RECEIVES ASSAYS RESULTS FOR MCFAULD'S WEST DRILLING PROGRAM: SIGNIFICANT VALUES FOR PLATINUM AND PALLADIUM IDENTIFIED IN PERIDOTITE

Assay results have been received for core samples from the recently completed drilling program on Probe Mines Ltd.'s 100-per-cent-owned McFauld's West property. Although only representative sampling of the peridotite was undertaken during the program, three of nine samples from the 60-metre intersection in hole MW08-08 returned significant and highly anomalous values in platinum, palladium and gold. A one-metre section of peridotite at 136 metres depth returned the highest values with a combined 2.1 grams per tonne (g/t) of platinum, palladium and gold. In addition, a 1.9 m section of peridotite starting at 142 m depth returned an average grade of 0.36 g/t combined platinum, palladium and gold. Nickel values in the platinum group element (PGE) mineralized zones were also anomalous returning values of up to 416 parts per million (ppm). The table shows precious metal results for the two anomalous intervals.

                                                                   Pt+Pd+Au
DDH       From (m) To (m) Length (m) Pt (ppb)  Pd (ppb)  Au (ppb)      (ppb)

MW08-08       136    137          1      560      1356       190      2106
MW08-08       142  143.9        1.9      115       184        61       360

These intervals were taken as representative samples and therefore the core on either side was not split for assay. In response to these significant precious metal results in only a limited number of samples, the company will now prioritize the sampling of the remaining 51 metres of peridotite core in order to better evaluate the potential of the body as a PGE host. Additional sampling will also be undertaken on drill hole MW08-02, which intersected a similar interval of peridotite in the same intrusive body.

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. The company is encouraged by these metal results from only a limited sampling of the peridotite and, owing to the difficulty in identifying PGE mineralization through visual observation, believes there is a strong possibility that the PGE mineralization is more widespread. The presence of PGE also provides encouragement for other metals, such as nickel and copper, in the host peridotite. It is important to note that the peridotite has only been drilled to a maximum vertical depth of 120 m, and the potential for additional mineralization at depth remains high. 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 per cent Ni, 1.18 per cent Cu and 5.1 g/t combined platinum, palladium and gold.

Probe is continuing exploration on its McFauld's Lake properties, which includes follow-up drilling on the sulphide mineralized ultramafic intrusive discovered on the Victory project, and additional drilling of ground geophysical targets and peridotite on the McFauld's West property. Shareholders will be updated as soon as an exploration schedule has been determined.

David Palmer, PhD, PGeo, is the qualified person for all technical information in this release. To find out more about Probe Mines, visit its website.

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