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Probe Mines Appoints Jamie Sokalsky as Director and Chairman Designate
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Toronto, September 16th, 2014 -- PROBE MINES LIMITED (TSX-V: PRB) ("Probe"
or the "Company") is pleased to announce that Jamie Sokalsky has been
appointed as a director of the Company effective immediately.
Mr. Sokalsky will be appointed as the non-executive Chairman of the Board of
Directors of the Company upon the retirement of Mr. Patrick Reid, Probe's
current Chairman, effective after the Company's Annual General Meeting to be
held on October 29, 2014, where Mr. Reid is not standing for re-election.
Mr. Sokalsky brings to Probe over 20 years of experience as a senior
executive in the mining industry, including finance, corporate strategy,
project development and operations. Mr. Sokalsky was President and Chief
Executive Officer of Barrick Gold Corporation
("Barrick") from June 2012 to September 2014 and Chief Financial Officer of
Barrick from 1999 to 2012, prior to which he worked in various other senior
finance roles. He holds an Honors Bachelor of Commerce degree from Lakehead
University and received his Chartered Accountant designation in 1982.
Dr. David Palmer, President and Chief Executive Officer of Probe, states,
"We are excited about the opportunity to work with Jamie. His knowledge,
experience and skill will greatly assist Probe as it advances the
exploration and development of the Borden Gold project.
On behalf of the Board of Directors and management, I welcome Jamie to our
team."
The Board of Directors of the Company wishes to thank Patrick Reid for his
years of service. Mr. Reid served the Company as Chairman and a director
since 2003 during which time it discovered the Black Creek chromite deposit
and the Borden Gold project. The Company wishes him the very best for
future endeavours.
Mr. Sokalsky has been granted options to acquire 500,000 common shares of
Probe for a period of five years with an exercise price of $2.41 per share.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company whose
key asset is the Borden Gold project near Chapleau in Ontario, Canada. The
Company is well-funded to continue advancing and growing a significant gold
resource on its Borden Gold project. Probe controls a large land package
along the Borden Belt representing over 400km2 of exploration ground. The
Company also has a 100% interest in the Black Creek chromite deposit located
in Northern Ontario.
On behalf of Probe Mines Limited,
Dr. David Palmer,
President & Chief Executive Officer
For further information, please contact:
Karen Willoughby, Director of Corporate Communications
Tel: (866) 936-6766
Email: info@probemines.com
Patrick Langlois, Vice President, Corporate Development
Tel: (416) 777-6703
Email: patrick@probemines.com
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.
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