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Probe Mines Borden Lake property agreement
Probe Mines Ltd (C:PRB)
Shares Issued 36,602,581
Last Close 8/24/2010 $0.65
Tuesday August 24 2010 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to the amendment of an existing option agreement, dated March 31, 2010, between Probe Mines Ltd. and two arm's-length parties, whereby the company may acquire a 100-per-cent interest in an additional 39 mining claim units for a total of 66 units (the Borden Lake property), located in Cochrane township, near Chapleau, Ont.
Under the terms of the agreement, the company can earn a 100-per-cent interest in the property by making total cash payments of $55,000 and issuing 350,000 common shares over a four-year period.
For further details, please refer to the company's news releases dated April 26, 2010, and Aug. 23, 2010.