Probe Mines finds 800-metre-long anomaly at JV claim

2009-05-26 08:13 ET - News Release

Mr. David Palmer reports

PROBE MINES IDENTIFIES 800M-LONG AIRBORNE ANOMALY ON THE PROBE-NORONT JOINT VENTURE

Probe Mines Ltd. has provided a technical update on the recently announced joint venture property with Noront Resources. Airborne geophysical results received for the properties have delineated a significant coincident electromagnetic-magnetic anomaly on a claim block located between the Black Thor and Big Daddy chromite discoveries of Freewest Resources and Freewest-Spider Resources-KWG Resources, respectively. The 800-metre-long anomaly, which extends across the southwest corner of the JV claim, is markedly similar to the geophysical signature of the adjacent chromite bodies and is interpreted to represent the direct extension of the Black Thor horizon to the northeast and the Big Daddy horizon to the southwest. In addition, airborne survey results indicate the magnetic horizon hosting Noront's recently announced Thunderbird V-Ti-Fe discovery extends north within the northeastern claims of the Probe-Noront JV properties, and into Probe's 100-per-cent-owned Tamarack project.

Both AeorTEM II and VTEM helicopter-borne electromagnetic-magnetic surveys were flown over the claims, and comprised 375 and 316 line kilometres of coverage, respectively. The two surveys independently confirmed the strong magnetic features attributable to the host mafic-ultramafic horizon and the strong coincident magnetic-electromagnetic conductor extending from the Black Thor and Big Daddy chromite deposits onto the JV ground.

Other conductors have also been identified from the survey, and the airborne data are undergoing a final interpretation to select and prioritize targets for an upcoming drill program. The area covered by the joint venture is highly prospective for Ni-Cu-PGE and chromite-PGE deposits and the presence of strong geophysical targets indicates the potential for new discoveries on these claims. The company is expecting to finalize a drilling contract in the upcoming weeks, and will plan to mobilize shortly thereafter. Further details of the drilling program and airborne results from other properties will be released in the upcoming weeks.

McFauld's Lake

The McFauld's area continues to receive considerable attention with recent reports of high-grade chromite and PGE mineralization from Noront and Freewest Resources, in addition to continuing intersections of high-grade nickel and copper at Noront's Eagle One, Eagle Two and AT-12 discoveries. A preliminary economic assessment of the Eagle One Ni-Cu deposit reported an estimated resource (indicated) of 1,834,000 tonnes averaging 1.96 per cent Ni, 1.18 per cent Cu and 5.1 grams per tonne (g/t) combined platinum, palladium and gold.

The discovery of chromite at McFauld's has added significantly to the area's value. The first massive chromite horizon was identified by Spider Resources in January, 2006, while exploring for VMS mineralization. Noront Resources identified further chromite mineralization on its Black Bird 1 and 2 showings, while Freewest Resources returned significant intersections of massive chromite in its Black Thor and Black Label deposits. Highlights from the Freewest drilling include a 124-metre intersection grading 30 per cent Cr2O3. The chromite occurrences are all located along a laterally extensive magnetic high that can be traced for approximately 20 kilometres in a northeast direction, along which many of the Probe-Noront joint venture claims occur.

Dr. David Palmer, PGeo, is the qualified person for all technical information in this release.

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