November 01, 2007 16:11 ET

Darnley Bay Resources Limited Issues Technical Report

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2007) - Darnley Bay Resources Limited (the "Company") (TSX VENTURE:DBL) announces that it today issued a technical report on the base metal exploration program over the Darnley Bay Anomaly near Paulatuk, NWT in the Canadian Arctic. This 101-page report, entitled "The Technical Report for the Strategic Review-Darnley Bay, NWT", was authored by Stephen W. Reford (P.Eng.), Vice-President of Paterson, Grant & Watson Limited, and forms a component of the Company's Strategic Review. The report has been filed and is available for viewing on SEDAR (www.sedar.com).

The technical report incorporates the following:

- geological, mineral deposit and exploration concepts developed by Bottrill Geological

- analysis of airborne magnetic and ground gravity data by Paterson, Grant & Watson Limited (www.pgw.on.ca)

- 3D gravity and magnetic modelling carried out by Mira Geoscience Ltd. (www.mirageoscience.com)

- integration of the results of the above-mentioned work with recommendations for ongoing exploration, incorporating contributions from the Company's independent Strategic Review Board and Company Directors.

The important highlights of the report are:

- The Darnley Bay Anomaly and regional evidence indicate the characteristics of two types of sources that would explain the anomaly, each of which is associated with prolific mineral deposits elsewhere. These are:

1. Mafic magma body with associated nickel, copper, platinum group element (PGE) and/or cobalt mineralisation, as at Sudbury, Voisey's Bay and Noril'sk; and

2. Magnetite breccia with associated iron-oxide copper gold (IOCG) and uranium/rare earth element (REE) mineralisation, as at Olympic Dam.

- Eleven discrete gravity targets were located over residual gravity anomalies, each of several milligals in amplitude. Some of the targets modelled to within several hundred meters of the surface. These are typically offset from the previously interpreted magnetic targets, and may indicate concentrations of high density material that could incorporate ore.

- At greater depth, the modelling shows that the magnetic and gravity sources coalesce into a large body or juxtaposition of bodies that measure tens of kilometres in the horizontal and vertical directions.

To follow up recommendations of the Strategic Review, the Company is developing a comprehensive exploration plan and budget. The major components will be gravity surveys to refine the new targets and to locate additional targets, followed by drilling of priority targets.

Qualified Persons

Stephen W. Reford (P.Eng.), Vice-President of Paterson, Grant & Watson Limited, is a Qualified Person in accordance with National Instrument (NI) 43-101, and is responsible for the geological information presented in this news release.

About Darnley Bay Resources Limited

Darnley Bay Resources Limited has been exploring for base metals in the vicinity of the Darnley Bay magnetic and gravity anomaly near Paulatuk, NWT since 1994. It discovered ten kimberlite pipes on the Parry Peninsula in the late 90's, six of which proved to be diamondiferous after initial drilling. Ongoing diamond exploration in the region is being carried out through a joint venture with Diadem Resources Ltd.

Forward-looking Statement

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this new release.

Contact Information