CEE Centamin Plc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
announce that it plans to complete a non-brokered private placement of up to
8,400,000 flow-through common shares ("Flow-Through Shares") of the company at a
price of $3.10 per share for proceeds of approximately $26,040,000 (the
"Financing"). The proceeds from the Financing will be used for exploration on
the Company's Borden Gold project.


Proceeds from the Financing will be used for Canadian Exploration Expenses
("CEE") (within the meaning of the Income Tax Act (Canada)) which shall qualify
as "flow-through mining expenditures", for purposes of the Income Tax Act
(Canada), related to the exploration of Probe's exploration projects. The
Company will renounce such CEE with an effective date of no later than December
31, 2014. 


The Financing is expected to close on or about August 6, 2014 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange and applicable
securities regulatory authorities. No finder's fees will be paid with respect to
the Financing.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended, (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to or for the account or benefit
of a U.S. person (as defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.


About Probe Mines:

Probe Mines Limited is a Canadian precious metals exploration company whose key
asset is the Borden Gold Zone in Ontario, Canada. As of January 31, 2014, the
Company is well-positioned with approximately $29.4 million in treasury. The
Company is actively exploring a significant new gold resource on its Borden Gold
Zone 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.


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 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. This News Release includes certain
"forward-looking statements" which are not comprised of historical facts.
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. Although these statements are based on information currently
available to the Company, the Company provides no assurance that actual results
will meet management's expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.


Forward looking information in this news release includes, but is not limited
to, the Company's objectives, goals or future plans, statements regarding
exploration results, potential mineralization, the estimation of mineral
resources, exploration and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could cause actual
results to differ materially from such forward-looking information include, but
are not limited to, failure to identify mineral resources, failure to convert
estimated mineral resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks,
inability to fulfill the duty to accommodate First Nations and other indigenous
peoples, uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes in exchange
rates, fluctuations in commodity prices, delays in the development of projects,
capital and operating costs varying significantly from estimates and the other
risks involved in the mineral exploration and development industry, and those
risks set out in the Company's public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than as required by
law.


Shares Issued: 76,374,727

FOR FURTHER INFORMATION PLEASE CONTACT: 
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
(866) 936-6766
info@probemines.com


Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
(416) 777-6703
patrick@probemines.com
www.probemines.com

Centamin (TSX:CEE)
Historical Stock Chart
From Apr 2024 to May 2024

Centamin (TSX:CEE)
Historical Stock Chart
From May 2023 to May 2024