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| | June 10, 2004
Probe Mines Engages Ensign Corporate Communications for Investor Relations, Corporate Update: Exploration Accelerates on McFauld's Lake and Bristol Projects
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| | PROBE MINES LIMITED (TSX-V: PRB) is pleased to announce that it has engaged Ensign Corporate Communications ("Ensign") for investor relations and corporate communications services, subject to regulatory approval. Ensign is an arm's length consulting firm specializing in investor relations and corporate communications and is based in Toronto. Tim German of Ensign will assist Probe with its investor relations and corporate communications programs. Pursuant to an agreement with Ensign, Ensign will provide investor relations and corporate communications services for an initial period of 6 months expiring on November 30, 2004, with a right to renew for a further six months thereafter. Ensign will be paid a monthly fee of $5,000 and will be entitled to receive an option on up to a maximum of 21,430 shares. The options vest as to 25% every three months are exercisable at a price of $0.70 per share for a period equal to the lesser of 2 years and 30 days after termination of the agreement.
In other news, Exploration programs are progressing well on both the McFauld's Lake base-metal project and Bristol gold properties, with highlights as follows:
McFauld's Lake (Cu-Pb-Zn-Ag-Au)
Interpretation of the high-resolution ground electromagnetic (EM) survey recently undertaken on the McFauld's Lake Project is almost complete, and preliminary results indicate numerous strong bedrock conductors similar to those typically associated with massive sulphide bodies. Given the geological setting of the McFauld's Lake area, i.e., thin Paleozoic veneer, bedrock conductors can immediately be categorized as drill targets, and a diamond drill program is currently being planned. Final results of the geophysical interpretation will be announced in the near future.
Bristol Township (Au)
Intensive exploration by several companies is continuing around our Bristol gold project, as work on our ground geophysical program accelerates. Results are expected shortly, after which geochemical and mapping surveys will commence. Probe expects to complete a first-phase drilling program on these properties during the 2004 summer field season.
Probe Mines Limited is a well-financed base and precious metal exploration company with a portfolio of high-quality mineral properties. As well, Probe maintains a 5% royalty interest in claims covering part of Agnico-Eagle Mines Limited Goldex Mine property in Val d'Or, Quebec. Probe's shares trade on the TSX Venture Exchange under the symbol PRB. Dr. David Palmer, P.Geo, is the qualified person responsible for the technic al information in this release.
To find out more about Probe Mines Limited (TSX-V: PRB), visit our website at www.probemines.com. or contact:
David Palmer, President, Probe Mines Limited, Tel: 416-777-6703, Fax: (6705), [email protected]
Harry J. Hodge, Director, Probe Mines Limited, Tel: 416-363-4376, Fax: (4606), [email protected]
Tim German, Ensign Corporate Communications, Tel: 416-214-3655
CAUTIONARY STATEMENT
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forwardlooking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Probe's expectations are exploration |
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| | You can view the Next News Releases item: Mon Jul 26, 2004, PROBE MINES LIMITED Commences Diamond Drilling Program on McFauld's Lake VMS Project Following Positive Ground Geophysical Results
You can view the Previous News Releases item: Wed May 26, 2004, PROBE MINES LIMITED Commences Fieldwork on Bristol Township Gold Project, Timmins, Ontario
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