Probe Mines Provides Update on McFaulds Lake Drilling, Massive Chromite Horizon Identified

TORONTO, ONTARIO--(Marketwire - July 27, 2009) - The Directors of PROBE MINES LIMITED (TSX VENTURE:PRB) ('Probe') are pleased to provide Shareholders with visual results from the continuing summer drilling program on its McFauld's Lake properties in the James Bay Lowlands of Northern Ontario. The first phase of drilling consisted of nine holes for a total of 2,249m on claim 4208219, which forms part of the Probe Mines - Noront Resources (TSX VENTURE:NOT) Joint Venture ground. A thick package of peridotite, comprised of olivine-bearing ultramafic rocks, containing a significant horizon of predominantly massive chromite with subordinate semi-massive and disseminated chromite sections has been identified. The chromite horizon has been intersected in four drill holes, representing a strike length of 100m, to a vertical depth of 186m, and is open in all directions. The thicknesses of the intersections range between 29.1m and 56.6m (approximately 25m to 47m true thickness). Sampling of the core has been completed and the samples are currently with Activation Labs in Thunder Bay where they will be analysed for associated elements. Results are expected in August and will be released as soon as they are available. The results presented here are visual, and can be considered estimates only. Geochemical analysis will be required to properly characterize the mineralization encountered in drill holes and may not confirm visual estimates.

Claim 4208219 lies directly between Freewest Resources' Black Thor chromite zone and the Big Daddy chromite horizon of the KWG Resources-Spider Resources-Freewest Resources joint venture, and this new discovery is interpreted to be the extension of these zones. Mineralization intersected in the four holes is similar to that described for the neighbouring bodies, being comprised of thick sections of massive chromite intermixed with lesser amounts of disseminated chromite mineralization. As the operator of the Probe Mines-Noront Resources Joint Venture, Probe is currently evaluating results and will provide recommendations for further work to the joint venture Technical Committee. The nature and scope of the second phase of the summer drilling program will be announced after the Technical Committee has made its decision.

Dr. David Palmer, President of Probe, states that, "Visual results from the core to date are very encouraging. The McFauld's Lake area has the potential to host World-class chromite deposits and we are extremely pleased to have identified the chromite horizon on our joint venture ground. Our focus will now be on delineating the chromite zone in order to better evaluate its potential."

Probe has instituted a strict quality control program for all analytical work carried out on this program, which includes the use of reference standards, blanks and duplicate sampling. Quality control guidelines have been set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.

McFauld's Lake

The McFauld's area continues to receive considerable attention with recent reports of high-grade chromite and PGE mineralization from Noront and Freewest Resources, in addition to continuing intersections of high-grade nickel and copper at Noront's Eagle One, Eagle Two and AT-12 discoveries. A preliminary economic assessment of the Eagle One Ni-Cu deposit reported an estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.

The discovery of chromite at McFauld's has added significantly to the area's value. The first massive chromite horizon was identified by Spider Resources in January 2006 while exploring for VMS mineralization. Noront Resources identified further chromite mineralization on its Black Bird 1 and 2 showings, while Freewest Resources returned significant intersections of massive chromite in its Black Thor and Black Label deposits to the northeast of Probe's discovery. Highlights from the Freewest drilling include a 124m intersection grading 30% Cr2O3. The chromite occurrences are all located along a laterally extensive magnetic high that can be traced for approximately 20km in a northeast direction, along which many of the Probe-Noront joint venture claims occur.