February 21, 2013 at 06:03 AM EST
Probe Mines Announces High Grade Intercepts and Exploration Update

TORONTO, ONTARIO -- (Marketwire) -- 02/21/13 -- Probe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company")

Highlights:


--  Continued improvement in the higher-grade core in southeast infill
    drilling, including intercepts of 36.5 metres grading 4.5 g/t Au and
    42.9 metres averaging 3.4 g/t Au;

--  Infill drilling continues to improve central area of mineralization with
    intersections of up to 53.7 metres averaging 1.6 g/t Au, including 25.2
    metres grading 2.5 g/t Au

--  Highest gold value from a single sample, to date, of 102 g/t Au over 1
    metre

--  Gold-bearing intervals continue to be identified in the Hanging Wall
    zone

Probe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further assays from its ongoing drilling program at the Company's Borden Gold project near Chapleau, Ontario. Results for 52 diamond drill holes, BL12-314 to BL13-365, were received and continue to improve grade in the southeast, identify new mineralization to the hanging wall side (northeast) of the main zone and improve the quality and consistency of the main zone through infill drilling. These results include drilling in the area of the new high-grade discovery, which returned a 51-metre intersection (true width) averaging 10.3 g/t Au in Hole BL12-256 (see News Release dated December 12, 2013). As part of the evaluation of this new high-grade zone, infill section, 1150m SE, was drilled to assess the continuity of the mineralization between previous sections. All holes on Section 1150 returned significant values of gold with highlights of 42.9 metres grading 3.4 g/t Au in Hole BL13-362, including a 31-metre interval averaging 4.3 g/t Au and a 26.7-metre intersection in Hole BL13-359 averaging 3.2 g/t Au, including a 12.6-metre interval grading 5.9 g/t Au. The following table shows selected results from Section 1150m SE drilling, with all intervals approximating true width. Updated plan and section maps are available on the Company's website at http://www.probemines.com/s/Borden_Lake.asp?ReportID=489901&_Type=Borden-Gold-Project&_Title=2D-Borden-Lake-Drill-Plan-and-Section-Maps:



                          Section 1150m SE Drilling

----------------------------------------------------------------------------
                                          From        To     Width        Au
DDH                          Section       (m)       (m)       (m)     (g/t)
----------------------------------------------------------------------------
BL12-353                    1150m SE     320.7     350.4      29.7       1.8
----------------------------------------------------------------------------
  including                                335     343.8       8.8       3.8
----------------------------------------------------------------------------
BL13-359                    1150m SE     335.5     362.2      26.7       3.2
----------------------------------------------------------------------------
  including                              349.6     362.2      12.6       5.9
----------------------------------------------------------------------------
BL13-362                    1150m SE     334.1       377      42.9       3.4
----------------------------------------------------------------------------
  including                                344       375      31.0       4.3
----------------------------------------------------------------------------
  including                              364.4     369.1       4.7      14.1
----------------------------------------------------------------------------
BL13-365                    1150m SE       345     387.8      42.8       1.3
----------------------------------------------------------------------------
  including                                354       375      21.0       1.7
----------------------------------------------------------------------------
  including                              369.1       375       5.9       2.7
----------------------------------------------------------------------------
  also including                           380     383.6       3.6       2.5
----------------------------------------------------------------------------

The Company is currently drilling step-out holes in the southeast to test the extent of the High-Grade Zone further along strike. Results from previous drilling suggest that the high-grade mineralization is an integral part of the horizon and is improving along strike. An analysis of the higher-grade core mineralization on Sections 1000m SE, 1050m SE, 1100m SE, 1150m SE and 1200m SE indicate a continual improvement in thickness and grade, and it is expected that this trend could continue with further drilling. The following table shows selected results from current and previously reported intersections on these sections illustrating the consistent improvement of the higher-grade core along strike to the southeast:



                        Higher-Grade Zone Intercepts

----------------------------------------------------------------------------
                                          From        To     Width        Au
DDH                          Section       (m)       (m)       (m)     (g/t)
----------------------------------------------------------------------------
BL12-215                    1000m SE     321.4     355.4      34.0       1.3
----------------------------------------------------------------------------
BL12-340                    1050m SE     341.3       374      32.7       1.7
----------------------------------------------------------------------------
BL12-233                    1100m SE     338.9       376      37.1       1.9
----------------------------------------------------------------------------
BL13-362                    1150m SE     334.1       377      42.9       3.4
----------------------------------------------------------------------------
BL12-256                    1200m SE       328       379      51.0      10.3
----------------------------------------------------------------------------

Infill Drilling

Of the fifty-two (52) new holes, a further forty-five (45) in-fill holes are presented, which confirm the internal consistency of the main zone mineralization and, in a number of cases, an improvement in grade. Hole BL12-327 returned a significant interval of 53.7 metres averaging 1.6 g/t Au, including 25.2 metres of 2.5 g/t on Section 250m NW, confirming that the infill program on previous sections in the northwest portion of the deposit is still being successful in defining higher-grade gold values. On Section 900m SE, Hole BL13-358 intersected a thick zone of higher-grade mineralization averaging 4.5 g/t Au over 36.5 metres, containing 11.7 metres grading 11.9 g/t Au and includes the highest value returned to date from the property of 102 g/t over one metre. Multiple high-grade samples were returned from other infill holes, including one metre of 83.6 g/t Au in Hole BL12-336 and one metre of 72 g/t gold in hole BL12-344, on Sections 50m SE and 250m SE, respectively. Overall the results from the infill drilling are encouraging, with over 80% of the intervals and sub-intervals returning greater than 1 g/t Au average grades. Please refer to the end of this News Release for a table of drilling results.

Hangingwall Drilling

Only two holes of the 52 were drilled to test for hangingwall zones, with both successful identifying narrow zones of higher grade material, including 7 metres averaging 1.3 g/t Au in Hole BL12-328, and a shallow intersection of 3.5 metres grading 1.4 g/t Au in Hole BL12-354, on Sections 150m NW and 500m SE, respectively.

The following table shows the selected highlights from the Hangingwall drilling. Drill width approximates true width for both holes:



                        Hangingwall Drilling Results

----------------------------------------------------------------------------
                                          From        To    Width         Au
DDH                          Section       (m)       (m)       (m)     (g/t)
----------------------------------------------------------------------------
BL12-328                     150m NW       181       188       7.0       1.3
----------------------------------------------------------------------------
BL12-354                     500m SE       2.3       5.8       3.5       1.4
----------------------------------------------------------------------------

Depth Extension Drilling

Only one hole targeted depth extensions to the mineralized zone. Hole BL12-316 was drilled on Section 800m SE and identified the gold zone to approximately 400 metres vertical depth.

The following table shows the selected highlights from Hole BL12-316. Drill width approximates true width for this hole:



                      Depth Extension Drilling Results

----------------------------------------------------------------------------
                                          From        To    Width         Au
DDH                          Section       (m)       (m)       (m)     (g/t)
----------------------------------------------------------------------------
BL12-316                     800m SE     355.3       360       4.7       4.4
----------------------------------------------------------------------------
BL12-316                                   383       412      29.0       0.7
----------------------------------------------------------------------------
  including                                403       409       6.0       1.4
----------------------------------------------------------------------------

Exploration Update

Owing to the encouraging results on the Borden Gold Project, Probe Mines plans a minimum of 80,000 metres of drilling in 2013, with a budget allocation of $15 million. The majority of this drilling will be focused on further delineation of the Borden Gold Deposit, with much of this centered on the expansion and definition of the new high-grade zone. Drills have now been mobilized to test the area around the high-grade intersections. In order to take advantage of winter ice conditions drilling is now focused on testing the mineralized zone 500 metres along strike to the southeast of the high-grade intersection identified in Hole BL12-256 (Section 1200m SE). It is anticipated that high-grade gold mineralization, if present, would exist at greater depths and potentially be amenable to underground mining methods.

In addition to drilling on the Borden Gold Deposit, up to 25% of the 2013 drill budget will be allocated towards testing regional targets on the Borden Gold and new East Limb properties. These areas have seen almost no previous exploration and the Company believes that the potential for additional discoveries is high. Drilling will commence on new regional targets once they have been identified and prioritized.

There are presently four drills operating on the deposit.

Dr. David Palmer, President and CEO of Probe, states "The results from the Borden Gold deposit drilling include some of the best intersections we have seen to date and indicate a coherent transition into higher grade gold values to the southeast. Our priority now is to continue defining and evaluating this high-grade mineralization and drilling is now underway to begin accomplishing this task. The Borden Gold project continues to distinguish itself and evolve into what might become one of Ontario's most significant gold deposits. With over $30 million in treasury, we are well-funded through 2014 and able to advance the Borden Gold project and continue building value for our shareholders."

Infill Drilling Results

The following tables show selected results from the Infill Holes. For the majority of holes, drill width approximates true width. For holes BL12-314, -318, -331, -338, -344, -345, -351, -352, -356 and -366 true width is approximately 90% of drilled width:



                           Infill Drilling Results

----------------------------------------------------------------------------
                                          From        To    Width         Au
DDH                          Section       (m)       (m)       (m)     (g/t)
----------------------------------------------------------------------------
BL12-314                     250m NW     373.9     382.5       8.6       0.7
----------------------------------------------------------------------------
BL12-315                     450m SE     353.2     379.6      26.4       1.2
----------------------------------------------------------------------------
  including                              353.2       366      12.8       1.9
----------------------------------------------------------------------------
  including                                362       366       4.0       3.1
----------------------------------------------------------------------------
BL12-317                     450m NW       313       318       5.0       0.9
----------------------------------------------------------------------------
BL12-318                     450m SE       344     347.9       3.9       0.7
----------------------------------------------------------------------------
BL12-318                                   355       360       5.0       1.0
----------------------------------------------------------------------------
BL12-318                                   369       376       7.0       0.7
----------------------------------------------------------------------------
BL12-318                                   382       398      16.0       0.7
----------------------------------------------------------------------------
BL12-319                     150m NW       286       306      20.0       1.5
----------------------------------------------------------------------------
  including                                296       297       1.0      12.3
----------------------------------------------------------------------------
BL12-320                     950m SE       240       244       4.0       1.4
----------------------------------------------------------------------------
BL12-320                                 330.1       355      24.9       1.3
----------------------------------------------------------------------------
  including                                348     353.7       5.7       2.6
----------------------------------------------------------------------------
BL12-321                     350m NW                                     NSI
----------------------------------------------------------------------------
BL12-322                     350m NW       100       103       3.0       1.1
----------------------------------------------------------------------------
BL12-322                                   139     174.6      35.6       0.8
----------------------------------------------------------------------------
BL12-323                     300m NW       211       220       9.0       0.7
----------------------------------------------------------------------------
BL12-324                     350m SE     319.6       337      17.4       0.8
----------------------------------------------------------------------------
  including                                322       328       6.0       1.1
----------------------------------------------------------------------------
BL12-324                                   348     372.1      24.1       1.0
----------------------------------------------------------------------------
BL12-325                     950m SE     315.3       327      11.7       1.4
----------------------------------------------------------------------------
BL12-325                                 337.2       360      22.8       1.1
----------------------------------------------------------------------------
BL12-326                     150m NW     189.6       199       9.4       1.7
----------------------------------------------------------------------------
BL12-327                     250m NW        94     108.3      14.3       0.7
----------------------------------------------------------------------------
BL12-327                                 125.3       179      53.7       1.6
----------------------------------------------------------------------------
  including                              135.8       161      25.2       2.5
----------------------------------------------------------------------------
BL12-329                     150m NW       141       206      65.0       1.1
----------------------------------------------------------------------------
  including                                157       171      14.0       1.9
----------------------------------------------------------------------------
  also including                           191       199       8.0       2.2
----------------------------------------------------------------------------
BL12-330                     950m SE     304.9     312.6       7.7       0.9
----------------------------------------------------------------------------
BL12-330                                   344       354      10.0       1.0
----------------------------------------------------------------------------
BL12-330                                   364       379      15.0       1.3
----------------------------------------------------------------------------
BL12-331                     350m SE     360.4       363       2.6       6.3
----------------------------------------------------------------------------
BL12-331                                   393       400       7.0       0.7
----------------------------------------------------------------------------
BL12-331                                 403.3     410.2       6.9       0.9
----------------------------------------------------------------------------
BL12-332                      50m NW       104       171      67.0       1.3
----------------------------------------------------------------------------
  including                                104       129      25.0       1.6
----------------------------------------------------------------------------
  including                              123.5       129       5.5       3.4
----------------------------------------------------------------------------
BL12-333                      50m SE      97.6       162      64.4       1.2
----------------------------------------------------------------------------
  including                                112       128      16.0       1.6
----------------------------------------------------------------------------
  also including                           145       162      17.0       1.5
----------------------------------------------------------------------------
BL12-334                     L330250       213     235.2      22.2       1.5
----------------------------------------------------------------------------
  including                                229       233       4.0       2.9
----------------------------------------------------------------------------
BL12-334                                   239       261      22.0       0.8
----------------------------------------------------------------------------
BL12-335                    1050m SE       335     340.1       5.1       0.9
----------------------------------------------------------------------------
BL12-335                                   351     372.3      21.3       2.5
----------------------------------------------------------------------------
BL12-336                      50m SE      88.3        92       3.7      25.0
----------------------------------------------------------------------------
  including                                 89        90       1.0      83.6
----------------------------------------------------------------------------
BL12-336                                 179.8       230      50.2       1.0
----------------------------------------------------------------------------
  including                                186       201      15.0       1.6
----------------------------------------------------------------------------
  also including                         203.5       226      22.5       1.0
----------------------------------------------------------------------------
BL12-337                     350m SE     201.5       272      70.5       1.1
----------------------------------------------------------------------------
  including                                217       255      38.0       1.4
----------------------------------------------------------------------------
  including                                233       238       5.0       2.5
----------------------------------------------------------------------------
BL12-338                     L330250       315       326      11.0       1.7
----------------------------------------------------------------------------
  including                                323       324       1.0      10.9
----------------------------------------------------------------------------
BL12-338                                 348.7       360      11.3       0.7
----------------------------------------------------------------------------
BL12-339                      50m SE       232     253.8      21.8       1.0
----------------------------------------------------------------------------
  including                                249       253       4.0       2.2
----------------------------------------------------------------------------
BL12-340                    1050m SE       317       321       4.0       3.2
----------------------------------------------------------------------------
BL12-340                                 341.3       374      32.7       1.7
----------------------------------------------------------------------------
  including                                350       370      20.0       2.0
----------------------------------------------------------------------------
BL12-341                     300m SE       298       308      10.0       0.7
----------------------------------------------------------------------------
BL12-341                                   337       371      34.0       1.2
----------------------------------------------------------------------------
  including                                348       358      10.0       2.2
----------------------------------------------------------------------------
BL12-342                      50m NW     195.1     223.4      28.3       1.0
----------------------------------------------------------------------------
BL12-343                     250m SE       166     237.6      71.6       1.0
----------------------------------------------------------------------------
  including                                173       197      24.0       1.5
----------------------------------------------------------------------------
  also including                           226     237.6      11.6       1.5
----------------------------------------------------------------------------
BL12-344                     250m SE       212       213       1.0      72.0
----------------------------------------------------------------------------
BL12-344                                 228.7       261      32.3       1.2
----------------------------------------------------------------------------
BL12-344                                 266.4       288      21.6       0.6
----------------------------------------------------------------------------
BL12-345                      50m NW       279       312      33.0       1.3
----------------------------------------------------------------------------
  including                                291       309      18.0       1.8
----------------------------------------------------------------------------
BL12-346                                 316.3     326.5      10.2       1.0
----------------------------------------------------------------------------
BL12-346                    1050m SE       346     392.2      46.2       0.9
----------------------------------------------------------------------------
  including                              347.3       356       8.7       1.3
----------------------------------------------------------------------------
  also including                           374     392.2      18.2       1.2
----------------------------------------------------------------------------
BL12-347                     450m SE       196     201.1       5.1       1.3
----------------------------------------------------------------------------
BL12-347                                   205       234      29.0       0.7
----------------------------------------------------------------------------
BL12-347                                 247.9       280      32.1       1.0
----------------------------------------------------------------------------
BL12-348                     150m SE       174       239      65.0       1.2
----------------------------------------------------------------------------
  including                                190       208      18.0       1.4
----------------------------------------------------------------------------
  also including                           213     237.9      24.9       1.6
----------------------------------------------------------------------------
BL12-348                                 284.4       288       3.6       5.0
----------------------------------------------------------------------------
  including                              286.1     286.9       0.8      19.8
----------------------------------------------------------------------------
BL12-349                     400m SE     253.1       327      73.9       1.1
----------------------------------------------------------------------------
  including                                279       314      35.0       1.6
----------------------------------------------------------------------------
BL12-350                    1100m SE     371.2     428.6      57.4       0.8
----------------------------------------------------------------------------
  including                                393     417.4      24.4       1.2
----------------------------------------------------------------------------
  including                                414     417.4       3.4       2.2
----------------------------------------------------------------------------
BL12-351                     150m SE       246       311      65.0       1.0
----------------------------------------------------------------------------
  including                                246     252.2       6.2       1.7
----------------------------------------------------------------------------
  also including                           259       271      12.0       1.1
----------------------------------------------------------------------------
  also including                           278       294      16.0       1.4
----------------------------------------------------------------------------
BL12-352                     450m SE     267.7       281      13.3       8.2
----------------------------------------------------------------------------
  including                                271     278.7       7.7      13.8
----------------------------------------------------------------------------
BL12-352                                 295.9       323      27.1       1.0
----------------------------------------------------------------------------
  including                              301.5       306       4.5       1.4
----------------------------------------------------------------------------
  also including                           314     319.2       5.2       1.4
----------------------------------------------------------------------------
BL12-355                     150m SE     116.6       178      61.4       1.4
----------------------------------------------------------------------------
  including                                127       150      23.0       2.5
----------------------------------------------------------------------------
  also including                           150       178      28.0       0.7
----------------------------------------------------------------------------
BL12-356                                   277       295      18.0       4.8
----------------------------------------------------------------------------
  including                                280       281       1.0      55.3
----------------------------------------------------------------------------
  also including                           289       291       2.0       7.7
----------------------------------------------------------------------------
BL12-356                     500m SE       300       342      42.0       1.2
----------------------------------------------------------------------------
  including                                306     326.7      20.7       1.7
----------------------------------------------------------------------------
BL13-357                     750m SE     358.7     388.2      29.5       1.4
----------------------------------------------------------------------------
BL13-358                     900m SE     249.5       286      36.5       4.5
----------------------------------------------------------------------------
  including                                262     273.7      11.7      11.9
----------------------------------------------------------------------------
  including                                263       264       1.0     102.0
----------------------------------------------------------------------------
BL13-360                     750m SE       296     322.9      26.9       1.1
----------------------------------------------------------------------------
BL13-360                                   349     357.2       8.2       1.2
----------------------------------------------------------------------------
BL13-361                     850m SE     257.5     294.7      37.2       1.1
----------------------------------------------------------------------------
  including                                260       275      15.0       1.8
----------------------------------------------------------------------------
  including                                260       267       7.0       2.1
----------------------------------------------------------------------------
  also including                         282.3       288       5.7       1.3
----------------------------------------------------------------------------
BL13-363                     850m SE       248     280.5      32.5       2.4
----------------------------------------------------------------------------
  including                              259.4     268.4       9.0       5.1
----------------------------------------------------------------------------
BL13-364                     750m SE       327       335       8.0       2.4
----------------------------------------------------------------------------
BL13-364                                   361     391.9      30.9       1.0
----------------------------------------------------------------------------
  including                                362       367       5.0       1.7
----------------------------------------------------------------------------
(i)NSI - no significant intervals

Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Gold drill core sampling, with each fire assay furnace batch of 40 samples including two certified reference materials (standards), one blank sample and one core duplicate sample. Quality control guidelines and ongoing QAQC monitoring are being carried out by Probe personnel.

About Probe Mines:

Probe Mines Limited is a Canadian precious metals exploration company whose key asset is the Borden Gold Zone in Ontario, Canada. As of January 31, 2013, the Company had approximately $32 million in treasury and a portfolio of highly prospective mineral properties. The Company is actively exploring a significant new gold resource on its Borden Gold Zone near Chapleau, Ontario and has 100% interest in the Black Creek chromite deposit located in Northern Ontario. The Company'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.

On behalf of Probe Mines Limited,

Dr. David Palmer, President & Chief Executive Officer

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Shares Issued: 67,196,927

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
(866) 936-6766
info@probemines.com

Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
(416) 777-6703
patrick@probemines.com
www.probemines.com

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