TORONTO, ONTARIO--(Marketwire - Dec. 18, 2012) - Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to announce that it has received further assays from its ongoing drilling program at the Company's Borden Lake Gold Project near Chapleau, Ontario. Results for diamond drill holes BL12-272 to BL12-296 were received and continue to expand the Borden Lake gold zone to depth, identify new mineralization to the hanging wall side (northeast) of the main zone and confirming the main zone through infill drilling. These results continue to show improvement in the Borden Lake deposit outside the area of the recently announced high-grade mineralization (see News Release dated December 12, 2012), particularly with respect to the higher-grade core. Follow-up drilling is now being planned for the high-grade mineralization identified at the southeast end of the deposit, which will be a focus in 2013.

Of the twenty-five (25) new holes, seven (7) represent expansion of the main zone mineralization to depth; seven (7) represent drilling in the immediate hanging wall of the main zone testing for parallel gold zones; and the remaining eleven (11) were drilled as infill to previous drilling of the main zone.

As with previous expansion and infill drilling on the main mineralized zone, results show a consistent improvement in overall grades with all significant intersections reported here returning values at or above the 0.6 g/t gold ("Au") cut-off used to define the Updated Resource (see news release dated April 2, 2012). The higher-grade core, which has become an integral feature of the mineralized zone, also shows continued improvement with a number of intersections averaging above 1.5 g/t over appreciable widths. Highlights from this drilling include 29 metres grading 1.7 g/t Au and 29.2 metres averaging 1.6 g/t Au in drill holes BL12-272 (Section 100m SE) and BL12-274 (Section 0m), respectively, with a number of high-grade zones including 12 metres of 3.9 g/t Au (BL12-294) and 6 metres of 6.3 g/t Au (BL12-293) on sections 450m SE and 1000m SE, respectively. Hole BL12-294 also returned an impressive intercept averaging 1.4 g/t Au over 95.6 metres.

The Hanging Wall drilling program remains successful in delineating gold mineralization above the main deposit to the northeast. Four of the reported holes contain significant intersections with respect to both width and grade, including a 4 metre interval grading 9.1 g/t Au (BL12-288) and a 35 metre-wide intercept averaging 0.6 g/t Au (BL12-286). The Company will now begin evaluating the results on the Hanging Wall program to direct future drilling on these gold zones.

The following tables show selected results from Depth Extension, Hanging Wall and Infill drilling programs. For the majority of holes, drill width approximates true width. For holes BL12-282 and -293 true width is approximately 90% of drilled width.

Updated plan and section maps are available on the Company's website at http://www.probemines.com.

Depth Extension Drilling
DDH	Section	From (m)	To (m)	Width (m)	Au (g/t)
BL12-273	600m NW	167	178	11	1.5
BL12-273		523	545.5	22.5	0.7
including		535	544	9	1.1
BL12-275	1100m SE	407.2	460	52.8	0.8
including		450	457	7	1.3
BL12-279	600m NW	713	726	13	0.7
BL12-281	1100m SE	388.3	399.4	11.1	1.6
BL12-281		447	459.7	12.7	0.8
BL12-285	700m NW	513	525	12	1.0
BL12-287	1000m SE	435.5	462	26.5	0.8
BL12-293	1000m SE	361	367	6	6.3
BL12-293		384	394	10	1.0
BL12-293		426	460	34	0.6

Hanging Wall Drilling
DDH	Section	From (m)	To (m)	Width (m)	Au (g/t)
BL12-284	550m SE	142.1	155.8	13.7	0.8
BL12-286	550m SE	128	163	35	0.6
BL12-288	650m SE	74	78	4	9.1
BL12-289	650m SE	---	---	---	NSA
BL12-291	750m NW	---	---	---	NSA
BL12-292	750m NW	---	---	---	NSA
BL12-296	650m NW	191	200	9	1.6

*NSA - no significant assays

Infill Drilling
DDH	Section	From (m)	To (m)	Width (m)	Au (g/t)
BL12-272	100m SE	48	56	8	1.4
BL12-272		104	160	56	1.1
including		118	147	29	1.7
BL12-272		171.4	190	18.6	0.8
BL12-274	0m	88.8	187	98.2	1.0
including		115.8	145	29.2	1.6
also including		153	167	14	1.8
BL12-274		240.6	246	5.4	3.9
BL12-276	550m SE	213	225	12	1.0
BL12-276		262	294	32	0.7
BL12-277	750m NW	281.9	332.7	50.8	0.6
BL12-278	550m SE	208	296	88	1.3
including		222	224	2	21.9
also including		244	248.8	4.8	1.5
also including		252	256	4	3.1
BL12-280	750m NW	335	339	4	1.1
BL12-280		343	369.3	26.3	0.7
BL12-282	550m SE	213	241	28	0.7
BL12-282		250	304.8	54.8	1.1
including		279.4	300.2	20.8	1.4
BL12-282		308.6	316.8	8.2	0.7
BL12-283	750m NW	409.5	429	20.5	0.7
BL12-290	450m SE	186.5	222	35.5	0.7
BL12-290		244	267	23	1.2
including		247	251	4	2.2
BL12-294	450m SE	208.4	304	95.6	1.4
including		214	226	12	3.9
also including		259	286	27	1.7
BL12-295	550m NW	---	---	---	NSA

*NSA - no significant assays

Dr. David Palmer, President and CEO of Probe, states, "We are extremely pleased with the results that continue to come out of the project. Not only have we recently shown the potential for much higher grades at Borden, but we are also seeing improvement within the previously reported resource area. Borden displays a potential that isn't seen in many of the more advanced projects and we are looking forward to continuing this success in 2013.

Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Lake drill core sampling, with each fire assay furnace batch of 40 samples including two certified reference materials (standards), one blank sample and one core duplicate sample. Quality control guidelines and ongoing QAQC monitoring are being carried out by Probe personnel.

About Probe Mines:

Probe Mines Limited is a Canadian precious metals exploration company whose key asset is the Borden Lake Gold project in Ontario, Canada. As of July 31, 2012, the Company had approximately $27 million in treasury and a portfolio of highly prospective mineral properties. In addition, Probe disposed of its Goldex royalty on November 29, 2012 and received $14 million with the possibility of receiving up to an additional $4 million based on production milestones. The Company is actively exploring a significant new gold resource on its Borden Lake project near Chapleau, Ontario and has 100% interest in the Black Creek chromite deposit located in Northern Ontario. The Company's shares 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 www.probemines.com.

On behalf of Probe Mines Limited,

Dr. David Palmer, President & Chief Executive Officer

Forward-Looking Statements

This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Shares Issued: 65,391,491