Consolidated Pacific Bay Minerals Ltd.
TSX VENTURE : CBP

Consolidated Pacific Bay Minerals Ltd.

November 05, 2007 09:00 ET

Consolidated Pacific Bay Minerals Ltd.: Drilling Underway on Pacific Bay Otish Uranium Claims, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2007) - Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX VENTURE:CBP) ("Pacific Bay") is pleased to announce that Strateco Resources Inc. has commenced drilling on Pacific Bay's claims in the Otish Mountains of Quebec. Under an option agreement announced on October 29, 2007, Strateco can earn a 60% interest in the property by paying Pacific Bay $500,000 and 200,000 Strateco shares and spending $3 million over 4 years, to including a minimum of 2,500 meters of drilling each year.

Strateco has selected Pacific Bay's "Rabbit Ears" area as its first drill target, where an airborne magnetic linear feature, coincident with an airborne and ground radiometric anomaly, was followed up by a ground VLF/magnetic geophysical survey in September.

George Sanders, P.Geo, President of Consolidated Pacific Bay Minerals Ltd. and Qualified Person under National Instrument 43-101 for this News Release states: "This is a key milestone for Pacific Bay in the emerging Matoush uranium district. We have an excellent partner in Strateco Resources, and geologists from both companies are busy building a combined database that will greatly enhance the chances of finding more uranium deposits in this camp."

Maps of Pacific Bay's Matoush claims are posted on our website. Consolidated Pacific Bay Minerals Ltd. explores for uranium in Quebec and for uranium and precious metals in Argentina. Please visit our website pacificbayminerals.com for more information on all our programs.

ON BEHALF OF THE BOARD OF DIRECTORS

George Sanders, President, CEO

Contact Information

  • Consolidated Pacific Bay Minerals Ltd.
    Investor Relations
    (604) 682-2421 or Toll Free: 1-800-670-6570 (Canada)
    Toll Free: 1-800-665-5101 (USA)
    (604) 682-7576 (FAX)
    Website: www.pacificbayminerals.com