Transactions

Peterson Law Acts for Probe Mines Limited as It Closes $25.0 Million Private Placement

On April 21, 2011 Probe Mines Limited (“Probe Mines”) closed a private placement of 18,520,000 units at a price of C$1.35 for gross proceeds of C$25,002,000. Each unit consists of one common share and one half 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 C$1.70 until April 21, 2013. BMO Nesbitt Burns Inc. acted as sole agent for the Offering.

Peterson Law acted for Northern Gold with a team that included Dennis Peterson, Steven Agnew and David Gardos.

Probe Mines Limited is a Canadian base and precious metal exploration company with a portfolio of highly prospective mineral properties. In addition to its Borden Lake Gold project the Company owns 875 claims covering approximately 14,000 hectares in the McFauld’s Lake area, including a 100% interest in the Black Creek chromite deposit, and is currently exploring its Cree Lake project in Ontario’s Swayze Belt, under option from Mantis Mineral Corp. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore’s Timmins Mine project, and a 5% net smelter royalty on a portion of Agnico Eagle’s Goldex Mine near Val d’Or, Quebec, which began production in 2008. The Company’s common 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.

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