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TORONTO, ONTARIO--(Marketwire - Feb. 1, 2010) - The Directors of Probe Mines Limited (TSX VENTURE:PRB) ("Probe") are pleased to announce a proposed private placement financing for gross proceeds of $250,000 consisting of the sale of 500,000 Units sold at $0.50 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share for $0.75 for a period of two years after closing. All securities will be subject to a hold period of four months.


Proceeds of the financing will be used to continue the Corporation's exploration efforts in the McFauld's Lake area, as well as for working capital.


About Probe Mines:


Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $4M in treasury and a portfolio of highly prospective mineral properties. The Company is currently focused on the McFauld's Lake area where it owns 931 claims covering almost 15,000 hectares, including joint venture properties with Noront Resources covering 87 of these claims. Probe currently has an option-joint venture agreement with Lake Shore Gold Corp. on its Bristol Township gold project adjacent to Lake Shore's million-plus ounce gold deposit. Recent exploration results from Lake Shore include an 83.4m intersection grading 12.75 g/t gold less than one kilometre from Probe's claims. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 33,566,472 shares issued and outstanding, which 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 http://www.probemines.com/">www.probemines.com.