Warren Buffet, renowned investor and op-ed contributor to the New York Times states;

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.

Click here to view article in its entirety.

Regards,

AGORACOM Investor Relations

The preliminary assay results for the McFauld’s West core samples are very encouraging and suggest that the peridotite on the McFauld’s West property has the potential to host PGE mineralization in addition to other metals, such as nickel and copper. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.

Probe is currently planning follow up drilling programs on its McFauld’s Lake properties, however, scheduling has not been set. Shareholders will be updated as soon as an exploration schedule has been determined.

Options Granted

Options in respect of an aggregate of 1,000,000 common shares exercisable at $0.15 per share for a five year term were granted on October 16, 2008 to directors, staff and consultants of the Company. The options were granted pursuant to a stock option plan approved by shareholders on October 9, 2008. The new option plan reduces the number of options available for granting from 4,500,000 to 3,351,647, representing 10% of the issued and outstanding shares of the Company.

About Probe Mines:

Probe Mines Limited is a Canadian base and precious metal exploration company with 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. This includes a 100% interest in the McFauld's West Project, comprised of 12 claims (192 hectares) situated less than 450 metres from the site of Noront’s significant new nickel-copper discovery, representing one of the closest properties to the discovery. Probe currently has joint venture agreements on its Bristol Township gold project (West Timmins Mining Inc.) and Tamarack base metal project (Mantis Mineral Corp.). The Bristol Project is adjacent to the million-plus ounce gold deposit owned by Lake Shore Gold Corp., which has recently announced a positive pre-feasibility study for the project. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle’s Goldex Mine near Val d’Or, Quebec, slated for production in 2008. The company’s shares trade on the TSX Venture Exchange under the symbol PRB.

Investors are invited to visit the Probe Mines IR Hub at http://www.agoracom.com/IR/Probemines where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to PRB@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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, or contact:

David Palmer, Ph.D.

President

Tel: (416) 777-6703

Karen Willoughby

Investor Relations

Tel: (866) 365-4724

Forward-Looking Statements

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 forward-looking 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 risks detailed herein and from time to time in the filings made by Probe with securities regulators.

Toronto, October 1, 2008 – The Directors of Probe Mines Limited (TSX-V: PRB) ("Probe") are pleased to announce that assay results have been received for core samples from the recently completed drilling program on the Company’s 100%-owned McFauld’s West property. Although only representative sampling of the peridotite was undertaken during the program, three of nine samples from the 60m intersection in hole MW08-08 returned significant and highly anomalous values in platinum, palladium and gold. A one metre section of peridotite at 136 metres depth returned the highest values with a combined 2.1g/t of platinum, palladium and gold. In addition, a 1.9m section of peridotite starting at 142m depth returned an average grade of 0.36 g/t combined platinum, palladium and gold. Nickel values in the PGE mineralized zones were also anomalous returning values of up to 416ppm. The following table shows precious metal results for the two anomalous intervals:

These intervals were taken as representative samples and therefore the core on either side was not split for assay. In response to these significant precious metal results in only a limited number of samples, the Company will now prioritize the sampling of the remaining 51 metres of peridotite core in order to better evaluate the potential of the body as a platinum group element (PGE) host. Additional sampling will also be undertaken on drill hole MW08-02, which intersected a similar interval of peridotite in the same intrusive body.

The preliminary assay results for the McFauld’s West core samples are very encouraging and suggest that the peridotite on the McFauld’s West property has the potential to host PGE mineralization. The Company is encouraged by these metal results from only a limited sampling of the peridotite and, owing to the difficulty in identifying PGE mineralization through visual observation, believes there is a strong possibility that the PGE mineralization is more widespread. The presence of PGE also provides encouragement for other metals, such as nickel and copper, in the host peridotite. It is important to note that the peridotite has only been drilled to a maximum vertical depth of 120m, and the potential for additional mineralization at depth remains high. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.

Probe is continuing exploration on its McFauld’s Lake properties, which includes follow-up drilling on the sulphide mineralized ultramafic intrusive discovered on the Victory Project, and additional drilling of ground geophysical targets and peridotite on the McFauld’s West property. Shareholders will be updated as soon as an exploration schedule has been determined.

About Probe Mines:

Probe Mines Limited is a Canadian base and precious metal exploration company with 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. This includes a 100% interest in the McFauld's West Project, comprised of 12 claims (192 hectares) situated less than 450 metres from the site of Noront’s significant new nickel-copper discovery, representing one of the closest properties to the discovery. Probe currently has joint venture agreements on its Bristol Township gold project (West Timmins Mining Inc.) and Tamarack base metal project (Mantis Mineral Corp.). The Bristol Project is adjacent to the million-plus ounce gold deposit owned by Lake Shore Gold Corp., which has recently announced a positive pre-feasibility study for the project. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle’s Goldex Mine near Val d’Or, Quebec, slated for production in 2008. The company’s shares trade on the TSX Venture Exchange under the symbol PRB.

Investors are invited to visit the Probe Mines IR Hub at http://www.agoracom.com/IR/Probemines where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to PRB@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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, or contact:

David Palmer, Ph.D. Karen Willoughby

President Investor Relations

Tel: (416) 777-6703 Tel: (866) 365-4724

Forward-Looking Statements

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 forward-looking 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 risks detailed herein and from time to time in the filings made by Probe with securities regulators.

Industry watchdogs are forecasting that gold may reach $950/oz by the end of this year. This according to an article from Bloomberg who are quoting London based researcher GFMS Ltd.

It states that a combination of reduced supply and increased demand worldwide are reasons for the expected increase. The article states:

“Central bank sales will drop 46 percent in 2008, while mine supply will decline for a third year, a GFMS report showed today. Demand from investors worldwide will soar 38 percent to 778 metric tons, with purchases in east Asia more than doubling.”

Gold prices increased over 5% this week as investors looked for a safe haven after Lehman Brothers filed for bankruptcy protection.

Overseas, Vietnam has now surpassed India as the world’s largest market. Its net investment demand was 71 tons in the first half of this year.

To read the article in its entirety, simply click on the following link: http://www.bloomberg.com/apps/news?p...

Feel free to comment on this report or any other facet of the business pertaining to Probe Mines by visiting the Probe Mines IR hub with AGORACOM at http://www.agoracom.com/ir/probemines

AGORACOM Investor Relations

TORONTO, ONTARIO--(Sept. 2, 2008) - The Directors of PROBE MINES LIMITED (TSX VENTURE:PRB) ("Probe") are pleased to provide an update on its McFauld's Lake area properties. Following drill programs on both Victory and McFauld's West projects (see press release 11/2008) a VTEM survey was contracted to Geotech Ltd. covering the McFauld's West and Victory projects, as well as a number of satellite properties. The survey has now been completed and the Company is waiting for preliminary results. A further announcement will be made when the data is available and the results have been interpreted.

The survey will be used to plan a follow-up drill program on the Victory property and guide ground geophysical surveys on the McFauld's West property in preparation of second phase drilling. It is expected that these programs will commence before freeze up, weather permitting.

Victory Project

The recently completed VTEM airborne survey was flown as a follow-up to the previous diamond drilling program where 30m of sulphide-mineralized ultramafic intrusive rock was intersected in diamond drill hole V08-27. The intersection occurred at the end of a discrete airborne anomaly that can be traced for at least 300m on the property. Assay results from Victory drilling contained anomalous values of nickel, copper and platinum group elements (PGE), with highs of 0.2% combined Ni and Cu and 0.21g/t combined Pt-Pd. Owing to depth limitations of previous airborne data acquired over the area, the VTEM survey was contracted to provide a greater degree of accuracy for proposed fall drilling.

The discovery of anomalous values of nickel, copper and PGE in sulphide mineralized rocks is considered to be a significant turning point in exploration on the Victory project. The mineralization represents a potential nickel-bearing system over 30km from the Eagle One discovery in a separate volcanic belt. Although removed from the original discovery, the geological setting is similar, with the ultramafic rocks occurring at the outer contact of the volcanic belt. The importance of the Victory ultramafic in describing a more regional potential to nickel mineralized systems in the McFauld's Lake area is significant, and management believes that further discoveries are possible in similar settings.

McFauld's West

In response to diamond drilling results on the McFauld's West property, a VTEM survey was flown in order to provide deeper penetration than the previous AeroTEM survey. Peridotite, similar to that hosting Eagle One sulphide mineralization, was identified in holes MW08-02 and MW08-08, however, no explanation for geophysical anomalies was observed. To more accurately locate potential bedrock conductors the VTEM data will be used to orient a deep-penetrating ground geophysical survey at 100m line spacing, which is at considerably higher resolution than the previous 400m-spaced grid.

The presence of peridotite on the property is encouraging, and management will continue to aggressively explore the property, which includes a second phase drilling program expected to commence in the fall.

About Probe Mines:

Probe Mines Limited is a Canadian base and precious metal exploration company with 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. This includes a 100% interest in the McFauld's West Project, comprised of 12 claims (192 hectares) situated less than 450 metres from the site of Noront's significant new nickel-copper discovery, representing one of the closest properties to the discovery. Probe currently has joint venture agreements on its Bristol Township gold project (West Timmins Mining Inc.) and Tamarack base metal project (Mantis Mineral Corp.). The Bristol Project is adjacent to the million-plus ounce gold deposit owned by Lake Shore Gold Corp., which has recently announced a positive pre-feasibility study for the project. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, slated for production in 2008. The company's shares trade on the TSX Venture Exchange under the symbol PRB.

Investors are invited to visit the Probe Mines IR Hub at http://www.agoracom.com/IR/Probemines where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to PRB@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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

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 forward-looking 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 risks detailed herein and from time to time in the filings made by Probe with securities regulators.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Probe Mines Limited
David Palmer, Ph.D.
President
(416) 777-6703

or

Probe Mines Limited
Karen Willoughby
Investor Relations
1-866-365-4724
Website: www.probemines.com

TORONTO, ONTARIO--(Aug. 5, 2008) - The Directors of PROBE MINES LIMITED (TSX VENTURE:PRB)("Probe") are pleased to announce that a total of eight holes have been completed during first-phase drilling on the Company's 100%-owned McFauld's West property in the James Bay Lowlands. Ultramafic intrusive rock was intersected in three of the eight holes, and represent three unique bodies. Diamond drill holes MW-02 and MW-08 identified a thick (over 80 metres) peridotite intrusive body, which closely resembles the host peridotite of the Eagle One nickel-copper discovery. The holes were designed to test a number of discrete geophysical anomalies identified through the ground program, however, the anomalies were not explained by the amount of sulphides observed in the core and further work is required. Drill hole MW-01 was collared to test the "mafic" dyke identified in outcrop during the winter geophysical program and intersected two separate ultramafic dykes at depth. The dykes were barren of sulphide at this location. The peridotite and ultramafic dykes have been sampled and assay results will be released once they are received, which is expected to take three weeks.

Owing to the presence of potential nickel-PGE host rocks and the lack of explanations for the geophysical and geochemical anomalies, the Company is now planning further geophysical programs on the property. A VTEM survey is currently being designed for both the Victory and McFauld's West properties to be followed by a deep-penetrating, high resolution ground geophysical survey on the McFauld's West property. The results of the drilling indicate that previous surveys lacked either the depth penetration or resolution and future surveys will correct this in preparation for second phase drilling, expected to commence in the fall.

Victory Assay Results

Geochemical results have been received for the Company's recently completed drilling on its 100%-owned Victory project. Core samples from hole V08-27, which intersected a 30 metre thick unit of sulphide mineralized ultramafic intrusive, returned anomalous values of nickel, copper, platinum and palladium throughout the section. The ultramafic is situated at the end of an over 300 metre long airborne conductor and suggests the potential for higher-grade and thicker mineralization towards the middle of the zone. A VTEM airborne survey is now being planned for the area in preparation of further drilling.

Holes V08-24, V08-26 and V08-27 all returned anomalous values of copper and zinc within sulphide mineralized sections of the volcanic sequence and indicate a potential for volcanogenic massive sulphide (VMS) type deposits within the volcanic package.

Additional McFauld's Lake Properties

Probe Mines owns an additional 75 claim units situated between, and northeast of, Noront Resources Eagle One and AT-12 massive sulphide discoveries and exploration is now being planned for these properties. The claims are located along the trend of ultramafic rocks between Noront's Double Eagle and Probe's Tamarack Projects, and share boundaries with Freewest Resources', Fancamp Exploration's and Noront's properties. A deep-penetrating helicopter-borne survey is now being planned for this area and will be followed by drilling of airborne targets.

Probe Mines has been established in the McFauld's Lake area since 2003 and owns approximately 15,000 hectares of ground along the McFauld's and Victory volcanic Belts. In addition to Noront's nickel-copper discovery, the McFauld's Lake area is host to numerous volcanic-hosted Cu-Zn discoveries, one of which is located on Probe Mines' Tamarack claims. Management believes the area has the potential to develop into Canada's next major mining camp.

About Probe Mines:

Probe Mines Limited is a Canadian base and precious metal exploration company with 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. This includes a 100% interest in the McFauld's West Project, comprised of 12 claims (192 hectares) situated less than 450 metres from the site of Noront's significant new nickel-copper discovery, representing one of the closest properties to the discovery. Probe currently has joint venture agreements on its Bristol Township gold project (West Timmins Mining Inc.) and Tamarack base metal project (Mantis Mineral Corp.). The Bristol Project is adjacent to the million-plus ounce gold deposit owned by Lake Shore Gold Corp., which has recently announced a positive pre-feasibility study for the project. Probe also maintains a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, slated for production in 2008. The company's shares trade on the TSX Venture Exchange under the symbol PRB.

Investors are invited to visit the Probe Mines IR Hub at http://www.agoracom.com/IR/Probemines where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to PRB@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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". 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 forward-looking 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 risks detailed herein and from time to time in the filings made by Probe with securities regulators.

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.

For more information, please contact

Probe Mines Limited
David Palmer, Ph.D.
President
(416) 777-6703

or

Probe Mines Limited
Karen Willoughby
Investor Relations
1-866-365-4724
Website: www.probemines.com