Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

November 21, 2006 08:30 ET

Committee Bay Commences Exploration Program in San Juan Province, Argentina

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 21, 2006) - Committee Bay Resources Ltd. (TSX VENTURE:CBR) ("Committee Bay" or "the Company") today announced the commencement of an exploration program on the 100% owned Cordon El Penon Project in San Juan Province, Argentina.

A program comprising geological mapping, stream sediment and rock sampling has been initiated to follow-up and expand upon a regional gold anomaly identified by Committee Bay in the Cordon El Penon area within the PreCordillera region of Argentina (See press release September 28, 2006).

The Cordon El Penon property is one of three regional gold exploration targets Committee Bay Resources Ltd., through its wholly owned subsidiary Minera La Huella S.A., now holds which cover 85,000 hectares of prospective ground in San Juan and La Rioja Provinces. Selection of these targets was based on development of conceptual geologic models and favorable results of reconnaissance level geological surveys conducted in the PreCordillera of central Argentina by the Company over the past several years which focused on areas that had received little modern gold exploration.

The Cordon El Penon Project encompasses a sequence of thrust faulted Ordovician aged platformal carbonate rocks which have been intruded by Tertiary porphyritic quartz diorites. This geologic environment contains the majority of gold deposits identified in the PreCordillera of Argentina including Gualcamayo, Virgen de Lourdes, Salamanca and Gualilan. These deposits are characterized by mantos, skarns, and breccia zones hosted within carbonate rocks proximal to quartz diorite intrusions. Committee Bay also believes these rocks have the potential to host more distal, disseminated type gold mineralization analogous to deposits of the Carlin and Battle Mountain trends in Nevada.

Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the project, and the programs are supervised by Peter Kleespies, M.Sc. P.Geol., Vice President of Exploration (Australia), who is the Qualified Person as defined by NI 43-101. All rock and stream sediment samples are delivered in sealed bags to the ALS-Chemex Labs facility in Mendoza, Argentina for sample preparation and then sent to the La Serena, Chile Lab for gold analysis (50 gram-tonne gold fire assay with atomic absorption finish) and then Vancouver, BC Lab for four-acid multi-element ICP-MS analysis.

Committee Bay also controls major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources.

On behalf of the Board

Committee Bay Resources Ltd.

John Williamson, P.Geol., President

Certain disclosures in this release, including management's assessment of Committee Bay's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Committee Bay's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Committee Bay expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

Contact Information

  • Committee Bay Resources Ltd.
    Derek Iwanaka
    Investor Relations
    (604) 331-2269 or Toll Free: 1-888-331-2269
    or
    Committee Bay Resources Ltd.
    Jim Paterson
    Investor Relations
    (604) 331-2269 or Toll Free: 1-888-331-2269
    Website: http://www.committeebay.com