Probe Mines LimitedCanadian Base and Precious Metal Exploration

TSX.V: PRBTSX.V: PRB

Celebrating 75 Years in the Mining Industry

Annual General Meeting 2008

Cautionary NotesCautionary Notes

DisclaimerThis presentation contains a review of the Company’s projects in Canada. Viewers are cautioned that the projects are at an early stage of exploration and that estimates and projections contained herein are based on limited and incomplete data. More work is required before the mineralization on the projects and their economic aspects can be confidentially modeled. Therefore, the work results and estimates herein may be considered to be generally indicative only of the nature and quality of the projects. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates herein will be confirmed by future exploration or analysis, or that the projects will otherwise prove to be economic.

Forward-Looking StatementsThis presentation 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.

Directors & ManagementDirectors & Management

Patrick Reid, B.A. Chairman of the Board

David Palmer, Ph.D., P.Geo. President, CEO & Director

Dennis Peterson Director

John Gammon, Ph.D. Director

Karen Willoughby Director Corp. Communications

Sound ManagementExperienced Exploration Team

At-a-GlanceAt-a-Glance

TSX VentureTSX Venture V.PRBV.PRB

IndustryIndustry MiningMining

Shares Outstanding Shares Outstanding 33.5M33.5M

Shares Fully DilutedShares Fully Diluted 39.8M39.8MRecent Share PriceRecent Share Price $0.15$0.15

Market CapMarket Cap $5M$5MFiscal Year EndFiscal Year End April 30April 30

Cash-on-HandCash-on-Hand $5.1M$5.1M

Corporate HighlightsCorporate HighlightsMcFauld’s West

Along trend of Noront Resources’ Eagle One (Ni-Cu-PGE) and Blackbird (Cr2O3) deposits; and Freewest’s Thor discovery (Cr2O3)

Tamarack JV

Under Option to Mantis Mineral Corp; Along trend of Freewest’s Thor Chromite discovery

Victory Project

100%-owned Victory Project in McFauld’s Lake Area. Recent drill intersection of Sulphide-Mineralized Ultramafic

Goldex Mine Royalty

Agnico-Eagle commenced production on June 8th

O NTARIOTim m ins

Va l d ’O r

M cF auld ’s L ake A rea

Q UEBEC

G o ld exR oyalty

V ictory P rojectT am arack P roject

M cF auld ’s L ake W est

M o ntre a lToro nto

ProjectsProjects

O NTARIOTim m ins

Va l d ’O r

M cF auld ’s L ake A rea

Q UEBEC

G o ld exR oyalty

V icto ry P ro jectT am arack P ro ject

M cF auld ’s L ake W est

B risto lT ow nsh ip

P ro ject

M o ntre a lToro nto

Bristol Township ProjectBristol Township Project

Significant Land holdings Adjacent Lake Shore Gold’s

Holmer Gold Deposit (1,290,000 ozs Au)

Property Hosts Multiple Gold Occurrences

Continuing Exploration through Joint Venture Agreement with

West Timmins Mining

ProjectsProjects

O NTARIOTim m ins

Va l d ’O r

M cF auld ’s L ake A rea

Q UEBEC

G o ld exR oyalty

V icto ry P ro jectT am arack P ro ject

M cF auld ’s L ake W est

B risto lT ow nsh ip

P ro ject

M o ntre a lToro nto

The Goldex RoyaltyThe Goldex Royalty

In progress

Probe Holds a 5% Net Smelter Royalty on a Portion of Agnico-Eagle’s Goldex

Deposit (1.6M ozs Au)

Located in the Prolific Val d’Or Mining Camp

Production Officialy Commenced June 2008

Potential to Generate Significant Revenue for Probe

as mining moves towards royalty boundary

ProjectsProjects

O NTARIOTim m ins

Va l d ’O r

M cF auld ’s L ake A rea

Q UEBEC

G o ld exR oyalty

V icto ry P ro jectT am arack P ro ject

M cF auld ’s L ake W est

B risto lT ow nsh ip

P ro ject

M o ntre a lToro nto

McFauld’s Lake AreaMcFauld’s Lake AreaProbe Controls Almost 15,000 Hectares in the McFaulds Lake

Area

New Canadian Mining Camp in the Making?

First Volcanogenic

Massive Sulphide

Deposits (Cu-Zn-Au-Ag)

Discovered in 2002

First High-Grade Nickel Discovery in 2007

Probe Discovers High-Grade Copper

in 2005 Probe identifies PGE on McFauld’s West

and Nickel on Victory 2008

Tamarack ProjectTamarack Project

Copper Discovery in 2005 (7.8m of 3.1% Cu)

Numerous Untested Drill Targets

Along Strike of New Ni-Cu and Chromite

discoveries

Option-JV agreement with Mantis Minerals

Victory ProjectVictory Project

Probe holds over 7,500 Hectares in Victory Greenstone Belt

Drilling Confirms VMS Potential and Presence of

Ni and Cu Bearing Ultramafic Intrusives

VTEM Survey Completed

Associated with McFaulds Lake Belt

Probe holds over 7,500 Hectares in Victory Greenstone Belt

Drilling Confirms VMS Potential and Presence of Ni and

Cu Bearing Ultramafic Intrusives

VTEM Survey Completed

Associated with McFaulds Lake Belt

Victory ProjectVictory Project

McFauld’s Lake WestMcFauld’s Lake West

Along the Ni-Chromite trend

New Nickel – Chromite Trend

2008 Drilling identifies significant Pt-Pd-Au in peridotite host

McFauld’s Lake West McFauld’s Lake West

Regional Magnetics Indicate Anomalies on

Property

Airborne SurveyCompleted

Winter Drilling Program To

Commence In Jan/Feb 2008

Looking AheadLooking Ahead

Monitor Development of Goldex Mine

Position Company for Return of Stable Markets

Current Market Conditions Provide Opportunity for Quality Acquisitions at Reasonable Costs

Continue Current Exploration Activity on McFaulds Lake Properties (VMS/Ni-Cu)

Strong Treasury - $5.1M in Cash

Reviewing Advanced Level Properties

PRB – TSX.V

Contact InformationContact Information

David Palmer, Ph.D., P.Geo.President & CEO(416) 777-6703

Karen WilloughbyDirector Corporate Communications(866) 365-4724

Head OfficeSuite 306, 2 Toronto StreetToronto, Ontario, CanadaM5C 2B6Tel: (416) 777-6703Fax: (416) 777-6705Email: info@probemines.comWebsite: www.probemines.com