Nov 11, 2010
Probe Mines Announces Grant of Options
Toronto, November 11, 2010 -- The Directors of PROBE MINES LIMITED (TSX-V: PRB) ("Probe") announce that a total of 1,200,000 stock options to purchase Probe common shares have been granted to directors, officers and a consultant at an exercise price of $1.40 per share, expiring on November 11, 2015. The grant of options is subject to regulatory approval.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $3.5MM in treasury and a portfolio of highly prospective mineral properties. The Company is currently focused on two areas: McFauld's Lake, where it owns 875 claims covering approximately 14,000 hectares; and its Borden Lake gold project, which returned very encouraging initial results including a 91m intersection averaging 2 g/t Au. Probe also has an option-joint venture agreement with Lake Shore Gold Corp on its Bristol Township gold project adjacent to Lake Shore's million-plus ounce gold deposit. Recent exploration results from Lake Shore include an 83.4m intersection grading 12.75 g/t gold less than one kilometre from Probe's claims. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 36,902,581 shares issued and outstanding, which trade on the TSX Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release. To find out more about Probe Mines Limited, visit our website at www.probemines.com, or contact:
Tel: (416) 777-6703
Tel: (866) 936-6766
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.
You can view the Next News Releases item: Tue Nov 23, 2010, Probe Mines Announces Second Phase Drilling Program on the Borden Lake Gold Project, Chapleau, Ontario
You can view the Previous News Releases item: Tue Nov 9, 2010, Probe Mines Continues to Intersect High Grade Chromite at Black Creek Deposit, James Bay Lowlands, Ontario
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