Probe Mines Appoints Patrick Langlois as VP Corporate Development

Marketwired

TORONTO, ONTARIO--(Marketwire - Oct 9, 2012) - Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to announce that Mr. Patrick Langlois has been appointed Vice President of Corporate Development for Probe. Mr. Langlois will have overall responsibility for Probe''s global corporate development activities, including shareholder relations, capital market strategy and corporate development opportunities. Prior to his appointment, Mr. Langlois served as Vice President of Corporate Development for Prophecy Platinum Corp. 

Mr. Langlois brings 15 years of corporate development, venture capital and investment banking experience to Probe. He brings an extensive investment banking background, with a focus on the mining sector, including past roles such as Director of Investment Banking at Stonecap Securities and Managing Director of Investment Banking at Laurentian Bank Securities. During this time, Mr. Langlois advised senior management teams on numerous mergers and acquisitions and corporate finance transactions. He has successfully conducted over 100 transactions of corporate and project financings, directly raising in excess of $2.0 billion. Mr. Langlois is a CFA Charterholder who holds a bachelor in commerce (Finance) and an MBA from Universite de Sherbrooke.

As a Vice President, Mr. Langlois was granted options to acquire 150,000 common shares of Probe at an exercise price of $1.36 per share for a period of five years.

Dr. David Palmer, President of Probe, states: "We are extremely pleased to have Patrick join the Probe team. His experience in the Capital Markets will be invaluable and comes at a time when the Company anticipates significant growth on its Borden Lake gold project. Patrick''s background in investment banking and corporate development will complement the Company''s strong technical skills and increases our ability to translate this growth to the markets. Probe is currently focused on building a team that can advance the Company and the Borden Lake project and Patrick will play a key role in this growth."

About Probe Mines:

Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $27MM in treasury and a portfolio of highly prospective mineral properties. The Company is actively exploring a significant new gold resource on its Borden Lake project near Chapleau, Ontario and owns 840 claims covering approximately 13,440 hectares in the McFauld''s Lake area, including a 100% interest in the Black Creek chromite deposit. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle''s Goldex Mine near Val d''Or, Quebec and a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore''s Timmins Mine project. 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.

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: 65,021,533

Contact:
Probe Mines Limited
David Palmer
President
(416) 777-6703
Probe Mines Limited
Karen Willoughby
Investor Relations
(866) 936-6766
www.probemines.com

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