Nov 04, 2003
Probe Announces Financing & Exploration Results
Probe Mines Limited (TSXV: YPB) announces a non-brokered private placement of up to 2,000,000 shares at a price of $0.06 per share for total gross proceeds of $120,000. The proceeds of the private placement will be used to acquire new mineral properties and for working capital. The private placement is subject to approval by the TSX Venture Exchange.
Probe has recently completed two drill holes on its optioned Serpent Creek property in the Thunder Bay district. These holes, which were designed to test an electromagnetic anomaly, intersected narrow sections of semi-massive to massive sulphides which returned slightly anomalous values only in copper and zinc. No further work is planned and the property has been returned to the optionee.
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 precio us 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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