Probe Mines Announces Closing of $15.0 Million Bought Deal Brokered Private Placement and Strategic Investment by Agnico Eagl...

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES. 


Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
announce, further to its press releases dated May 10, 2013 and May 23, 2013,
that it has completed its previously announced bought deal private placement
consisting of the sale and issue of 7,500,000 units of the Company ("FT Units")
at a price of $2.00 per FT Unit for aggregate gross proceeds of $15,000,000 (the
"Offering"). Each FT Unit consisted of one common share, issued on a
flow-through basis, and three-quarters of one common share purchase warrant
(each whole such warrant, a "Warrant"). Each Warrant entitles the holder to
purchase one additional common share of the Company at a price of $2.10 until
May 28, 2015. 


The Offering was completed by a syndicate of underwriters (the "Underwriters")
co-led by Cormark Securities Inc. ("Cormark") and BMO Nesbitt Burns Inc., who
also acted as joint bookrunners. A cash commission of $600,000 was paid to the
Underwriters in connection with the Offering. 


In the event that all Warrants are exercised, the Company will raise an
additional $11,812,500. All securities issued pursuant to the Offering are
subject to a hold period ending on September 29, 2013.


The gross proceeds from the sale of the FT Units will be used for "Canadian
exploration expenses" (within the meaning of the Income Tax Act (Canada))
("CEE") on the Company's exploration properties, and the Company will ensure
that such CEE qualifies as "flow-through mining expenditures", for purposes of
the Income Tax Act (Canada). The Company will renounce such CEE with an
effective date of no later than December 31, 2013.


The Company is also pleased to announce that following completion of the
Offering, Agnico Eagle Mines Limited ("Agnico Eagle") purchased from Cormark
7,500,000 units of the Company (the "Units") at a price of $1.50 per Unit, each
such Unit consisting of one common share and three-quarters of one Warrant.
Agnico Eagle now owns approximately 9.94% of Probe's issued and outstanding
common shares on a non-diluted basis. The common shares and Warrants purchased
by Agnico Eagle are subject to a hold period ending on September 29, 2013.
Agnico Eagle has the right to participate in any future equity offerings by
Probe in order to maintain its pro rata investment in the Company.


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, 2013, the
Company had approximately $32 million in treasury and a portfolio of highly
prospective mineral properties. The Company is actively exploring a significant
new gold resource on its Borden Gold Zone near Chapleau, Ontario and has a 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 

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: 75,433,127

FOR FURTHER INFORMATION PLEASE CONTACT: 
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
[phone]
[e-mail]


Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
[phone]
[e-mail]
www.probemines.com