Article: Probe Announces Update on Private Placement, Resignation of Director, and Agreement to Acquire Additional Oil and Gas Concessions in the US Gulf of Mexico.

VANCOUVER, BRITISH COLUMBIA, May 22, 2008 (Marketwire via COMTEX) -- Private Placement

Probe Resources Ltd. (the "Company") (TSX VENTURE:PBR) announces that the brokered private placement for gross proceeds of up to $20,000,000 with Canaccord Capital Corporation previously announced on March 5, 2008 is not proceeding. The Company is considering alternative financing options and in the interim, the Company announces that it will proceed with bridge-financing consisting of a non-brokered private placement of up to 16,000,000 units of the Company (each, a "Unit") at a price of $0.40 per Unit for gross proceeds of up to $6,400,000 (the "Offering"). Each Unit will consist of ...

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