Nov 07, 2003
Probe Announces Appointment Of New Directors And Grant Of Stock Options
Probe Mines Limited (TSXV: YPB) is please to announce that Patrick Reid and David Palmer have been elected to the board of directors subject to regulatory approval. The board of directors now consists of Harry J. Hodge, who acts as President, Roy T. Lacey, Dennis Peterson, Patrick Reid and David Palmer.
Mr. Reid is President of the Ontario Mining Association. Prior to joining the OMA in 1984, Mr. Reid was a Member of the Parliament of Ontario. The OMA is one Ontario's longest standing trade associations representing the producing mining sector and suppliers of equipment and services. Mr. Reid is a past member of the Executive Committee of the Toronto Branch of the Canadian Institute of Mining and Metallurgy. He was awarded the CIMM fellowship in 2001 for his outstanding contribution to the Canadian mining industry and the CIMM.
Dr. David Palmer has over 12 years of international experience in the mineral exploration industry, having participated in academic and industry projects throughout South Africa, South America, India, Greenland and Scandinavia, as well as having conducted significant work in Canada. His background in mineral commodities shows equal diversity, having managed diamond, PGE, nickel, base metal and gold exploration programs for companies such as Falconbridge, Rio Algom and SRK Consulting, in addition to acting as a consultant to numerous junior exploration companies. Dr. Palmer holds M.Sc. and Ph.D. degrees in economic geology from McGill University.
Options in respect of an aggregate of 1,100,000 common shares exercisable at $0.10 per share for a five year term were granted on November 7, 2003 to directors. Directors and officers are not paid any salaries or fees for acting as such. The options were granted pursuant to a stock option plan approved by shareholders on October 21, 2002.
Probe is a Canadian based junior resource exploration company. Probe has a long history in Canadian mining and is currently undergoing a major reorganization. New management is re-focussing on acquiring and developing high quality base and precious metal projects.
For further information please contact:
Harry J. Hodge
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 securities regulators.
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