Toronto, November 7, 2012 -- PROBE MINES LIMITED (TSX-V: PRB) ("Probe" or the "Company") is pleased to announce that it has acquired a 100% interest in Red Pine Exploration Inc's (TSX-V: RPX) ("Red Pine") Ava-Claire property, located approximately 20 kilometres east of the Company's Borden Lake project. The Ava-Claire property is comprised of 487 claims covering approximately 78 square kilometres situated at the eastern end of the Borden Lake Belt. The claims are believed to cover the same horizons which host the Borden Lake deposit, discovered by Probe in 2010.

In exchange for a 100% interest in the Ava-Claire property, the Company has agreed to pay Red Pine $100,000, issue 100,000 of its common shares, and grant a net smelter royalty ("NSR") of 1.5% on the property. The securities will be subject to a restricted period of four months and one day from the date of issuance. The purchase is subject to TSX Venture Exchange approval.