News

The Directors of PROBE MINES LIMITED (PRB: TSX-V) are pleased to announce that the corporation has acquired, by staking, 100% interest in mineral properties in the McFauld's Lake area of Northern Ontario.

The properties comprise two separate claim blocks immediately adjacent to the property of Spider Resources Ltd, on which three base metal discoveries have recently been announced. One block of 180 claims (2880ha) is tied on to the immediate north of the Spider discoveries and the other block of 96 claims (1536ha) on the east.

The claims were staked on the basis of interpretation of government geophysical surveys and from information available from the Spider website. These surveys indicate that the newly staked properties cover geological terrain favourable for the formation of base/precious metal deposits.

The Spider discoveries are considered to be Volcanogenic Massive Sulphide (VMS) deposits (Dr. J. Franklin, report, Spider website). These are similar to VMS deposits in Noranda, Timmins, etc. Typically, these deposits occur in clusters along one or more volcanic horizons. The management of Probe believes that the McFauld's Lake discoveries may represent the very early stage of the development of a new, and potentially important, base/precious metal mining camp.

Probe will commence a comprehensive exploration program consisting of ground electromagnetic and magnetic surveys, followed by core drilling, during the winter-spring, 2004 in order to thoroughly evaluate the properties.

Probe Mines Limited is a publicly traded exploration company, which is currently undergoing a major revitalization in order to take advantage of the current re-emergence of the metals industry, particularly mineral exploration. Probe is pursuing an aggressive program of acquisition for base and precious metal properties, and has recently acquired the Bristol Township gold property, strategically located between the Holmer deposit and Tom exploration's Bristol gold discovery in the prolific Timmins' Mining Camp. Probe is a dynamic exploration company with the financial capability and management expertise required to build a viable and successful mining company.

For further information please contact:

David Palmer
Tel: 416-363-3035
Fax: 416-352-5693
Harry J. Hodge
Tel: 416-363-4376
Fax: 416-363-4606

CAUTIONARY STATEMENT

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Probe's expectations are exploration risks detailed herein and from time to time in the filings made by Probe with secu rities regulators.