Consolidated Pacific Bay Minerals Ltd.
TSX VENTURE : CBP

Consolidated Pacific Bay Minerals Ltd.

January 17, 2007 09:02 ET

Pacific Bay Commences Geophysics Program on Uranium Claims, Otish Mountains, Quebec

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (the "Company") (TSX VENTURE:CBP), is pleased to report that winter line cutting and ground geophysics are underway on its 100% owned Matoush-area uranium property in the Otish Mountains of central Quebec. PacBay holds 253 claims, totalling over 112 square kilometres (43 square miles), strategically located in the Otish Mountains uranium play where Strateco Resources Inc. is currently drill-defining a high-grade uranium resource along the Matoush fault, discovered and explored by Uranerz Exploration and Mining, Ltd. in the 1980's. Strateco continues to report broad drill intercepts assaying more than one-percent uranium oxide in drill holes less than 4 kilometers from PacBay's claims along the strike of the Matoush fault.

PacBay's ground geophysical survey will make use of magnetometry and VLF (very low frequency) electromagnetic methods, which have proven to be effective in locating the Matoush fault, in past work by Uranerz and recent work by Strateco. A drill contractor has been selected and a diamond drill will be mobilized over the Eastmain winter road, to test the highest priority target areas before spring break-up. PacBay's winter program will be carried out by an independent, Quebec-based contractor, with broad experience in the area.

George Sanders, P.Geo, President, and a Qualified Person under National Instrument 43-101 for the purposes of this News Release, states, "We are pleased to finally be underway, after delays caused by unseasonably warm winter weather. We will be going, first, to our highest priority targets and explore the possible extension of the Matoush Fault which is the structural control for the high-grade Matoush deposit. Detailed analysis of last summer's helicopter geophysical surveys has identified a number of targets to be tested with the current ground geophysical programme. We are confident that our ground geophysical methods will define drill targets."

Consolidated Pacific Bay Minerals, Ltd. is actively exploring for uranium and precious metals in Quebec and Argentina. Please visit our website pacificbayminerals.com for information on all of our programs.

ON BEHALF OF THE BOARD OF DIRECTORS

George Sanders

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

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)