Agoracom

Probe Mines Limited is a Canadian base and precious metal explorer led by an experienced management team. The Company has assembled a portfolio of quality projects, including the very active McFauld's Lake area base metal projects in Northern Ontario and the Bristol Township gold project in the Timmins West camp. In addition, Probe holds a gold production royalty on a portion of Agnico-Eagle's Goldex project in Val d'Or, Quebec, which is scheduled to commence production in 2008 and represents a potential revenue stream for the company.

The company is currently focusing on its McFauld’s Lake properties due to the explosive interest in the area following Noront Resources’ recent significant copper/nickel/PGM find.

Interest in the McFauld’s Lake was first generated in 2002 with the discovery of volcanogenic massive sulphide mineralization by Spider Resources Inc. The mineralization comprises Cu-Pb-Zn-Au/Ag-bearing massive sulphides (>60% sulphide) similar to deposits being mined in Noranda, Quebec, Timmins, Ontario and Bathurst, New Brunswick. Previous work by Probe Mines in the area resulted in a high-grade copper intersection on its 100%-owned Tamarack Project, approximately 20km east of Noront’s Condor/Greenstone option.

Most recently, the Noront Resources nickel/copper/pgm discovery in September 2007 has generated renewed interest in the area. The initial discovery drill hole returned an impressive 36m intersection grading 1.84% nickel, 1.53% copper and almost 4 g/t combined platinum-palladium, prompting many to begin making comparisons to well known nickel producing deposits. The most recent assay results for Noront’s Hole NOT-07-05 include; 68.3 meters averaging 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver; the highest grades were from a 3 meter section of hole that averaged 8.7% nickel, 10.9% copper, 40.79 g/t platinum, 14.57 g/t palladium, 9.39 g/t gold and 8.7 g/t silver.

Probe owns a 100% interest in 12 claims (192 hectares) lying less than 600m from the site of the new nickel/copper/PGM discovery and represents one of the closest properties to the new discovery. The claims were staked in 2005 along the northern boundary, and to the south and west, of Noront’s Condor/Greenstone claim boundaries. Probe’s focus is centered over a magnetic anomaly identified from regional airborne data, that is similar to the one associated with Noront’s discovery.

The McFauld’s West property has never been explored, and a reconnaissance program was conducted in the middle of September. Probe is in the process of coordinating a second, more comprehensive exploration program involving ground geophysical surveys, to be followed by a winter drilling program.

The Corporation currently has interests in several other exploration projects, as follows:

• the Tamarack Project (formerly named the McFauld’s Lake Project), comprised of a 100% interest in 300 claims covering 5,760 hectares in the McFauld’s Lake area of the James Bay Lowlands of Northern Ontario, currently under option to Mantis Mineral Corp. The property is adjacent the recent Cu-Pb-Zn-Au/Ag volcanogenic massive sulphide (VMS) discoveries of Spider Resources Inc.

• the 100%-owned Victory Project, comprising 477 claims totaling 7,632 hectares and covering at least 34 airborne electromagnetic conductors within a new and previously unexplored greenstone belt east of the Tamarack Project

• the Bristol Township Project, which is comprised of 52 claims, totaling 832 hectares, currently under option to West Timmins Mining (formerly Sydney Resource Corporation). The property is located adjacent to the Holmer Gold Deposit of Lake Shore Gold Corp., approximately 15 kilometres west of Timmins, Ontario.

In addition to its property interests, the Corporation has a net smelter royalty (“NSR”) on 10 claims covering part of Agnico-Eagle’s Goldex Mine Property in Val d’Or, Quebec (the “Goldex Royalty”).