The Double Eagle project comprises 533 claims within the Sachigo Volcanic Belt, along strike of, and proximal to, at least nine volcanogenic massive sulphide (VMS) discoveries, including Probe`s recent intersection of 7.8 meters of high-grade copper mineralization at McFauld`s Lake. Optioning of the Double Eagle project now allows Probe access to 1,365 claims in the belt covering over 21,000 hectares of volcanic stratigraphy, including the Company`s 100% owned McFauld`s Lake and Victory projects. This represents the second largest land position for a single company in the area.
Several geophysical surveys have been conducted over the Double Eagle project; these surveys have identified numerous conductors characteristic of VMS-type mineralization, which have yet to be drill-tested. Exploration programs currently being planned by Probe for the Double Eagle project will run in conjunction with an extensive drill program already announced for the McFauld`s Lake project in the New Year.
David Palmer, President of Probe Mines, states ``The agreement with Noront now puts Probe in a very strong position in the McFauld`s Lake area and greatly enhances our exploration potential. The Double Eagle project represents a turnkey exploration property with a significant number of drill-ready targets. We are looking forward to applying our experience in the belt to this new property, and building on our success at McFauld`s Lake``.
About the Company:
Probe Mines Limited is a well-funded base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe has made a significant copper VMS discovery during recent drilling on its McFauld`s Lake project in the James Bay Lowlands, Ontario, including a near-surface intercept grading 3.1% Cu over 7.8 m. In addition, Probe maintains a 5% royalty interest in claims covering part of Agnico-Eagle Mines Limited (TSX: AGE) Goldex Mine property in Val d`Or, Quebec, which is slated to begin production in 2008. Probe`s shares 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:
Dave Palmer, Ph.D.
President
Tel: (416) 777-6703
Fiona Childe, Ph.D.
Manager of Corp. Communications
Tel: (416) 992-8402
Harry J. Hodge, P.Eng., Director
Tel: (416) 363-4376
This press release is available on the Probe Mines IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.AGORAcom.com/IR/ProbeMines. Alternatively, investors are asked to e-mail all questions and correspondence to PRB@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.
Forward-Looking Statements
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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