Committee Bay Resources Ltd.

Committee Bay Resources Ltd.

February 26, 2009 17:13 ET

Committee Bay Announces Five for One Share Consolidation and Name Change

EDMONTON, ALBERTA--(Marketwire - Feb. 26, 2009) - Committee Bay Resources Ltd. (the "Corporation") (TSX VENTURE:CBR)(FRANKFURT:C3M) announced today that its common shares ("Common Shares") have been consolidated on the basis of 5 pre-consolidation Common Shares for each 1 post-consolidation Common Share and that it has changed its name to "CBR Gold Corp.". Commencing March 2, 2009, the Common Shares will trade on the TSX Venture Exchange under the new stock symbol "CBG".

President and CEO, John Williamson commented, "Due to favourable market conditions for financing high quality gold projects, we believe now is the time for adding value to our projects through exploration and development. This share consolidation will improve the Corporation's structure and greatly enhance our ability to advance the high grade Three Bluffs Gold Deposit."

As at February 26, 2009, the Corporation had 145,947,865 Common Shares issued and outstanding. Following the consolidation, the Corporation will have approximately 29,180,573 Common Shares issued and outstanding. No fractional shares will be issued, but will instead be rounded down to the nearest whole number. Shareholders will receive a letter of transmittal from Olympia Trust Company, which has been appointed the Corporation's Exchange Agent.

CBR Gold Corp., formerly Committee Bay Resources Ltd., is a member of the Discovery Group of companies and for more information on the group, please visit

On behalf of the Board

Committee Bay Resources Ltd.

John Williamson, P.Geol., President, CEO & Director

"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."

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