Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

October 12, 2006 09:30 ET

Committee Bay Receives Final Drill Results from Anuri and West Plains

Broad Zone of Alteration and Veining Returns 5.15 g/t Au over 3.12m and 5.38 g/t Au over 3.33m at Anuri

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - Committee Bay Resources Ltd. (TSX VENTURE:CBR) today announced drill results from the Anuri target at the 100% owned Committee Bay Greenstone Belt Project. Drilling at the Anuri target has now identified gold over a 400m strike length and additional drilling at the West Plains target has confirmed the strike extent of mineralization as previously announced (See news release August 8, 2006).

Key Point Summary

- Drilling at Anuri has delineated mineralization over a 400m strike length adjacent to a major structural zone

- New drill intersections have similar chemistry to the extensive and highly auriferous boulder train previously identified at Anuri

- Anuri hole 06AR007B returns 3.75 g/t Au over 10.21m including 5.14 g/t Au over 3.12m and 5.38 g/t Au over 3.33m

- West Plains hole 06WP012 returns 8.39 g/t Au over 2.05m

Anuri

At Anuri 6 holes totaling 1,353m tested 400m of altered komatiites strike length adjacent to a major structural zone at the margin of the central tonalite. The recent drilling has intersected broad zones of alteration and quartz veining up to 20m wide, which bear geological and geochemical similarities to the high grade gold bearing boulder train discovered at Anuri in 2004 (See news release dated October 14, 2004).

The quartz vein/alteration zones occur within highly altered komatiites adjacent to a major structural zone at the contact of the central tonalite, a major plutonic body in the southwestern Committee Bay Greenstone Belt. Gold mineralization occurs within the quartz zones and is associated with highly anomalous silver (Ag), copper (Cu), bismuth (Bi), and tungsten (W). However gold zones associated with quartz stringers are present within all lithologies and were intersected by drill hole 06AR007, which intersected 3.75 g/t Au, 63.7 g/t Ag, 0.75% Cu and 158.2 ppm Bi over a 10.21m interval. Drilling in 2007, will expand upon this program and continue to search for higher grade zones within the Anuri trend.

Surface prospecting in 2004 had identified a significant mineralized boulder train where initial sampling produced high-grade gold and silver values of 291.2 g/t Au and 1,769.0 g/t Ag. An additional 423 rock samples collected in 2005 from the boulder train returned assay results up to a maximum of 20.68g/t Au and 33 were greater than 2.0g/t Au and 14 were greater than 5.0 g/t Au. (See news release dated November 15, 2005)

Similar alteration and mineralization styles have been identified over at least 2km of strike length within the same structural domain at the margin of the Central Tonalite (See news release November 15, 2005) which includes the Anuri East and Anuri Lakes prospects. Complete results of the 2006 Anuri drilling are tabulated below.



Table 1. 2006 Anuri Drill Results
-----------------------------------------------------
Hole From To Length Gold Grade
(m) (m) (m) (g/t)
-----------------------------------------------------
06AR005 108.21 119.11 10.9 1.71
-----------------------------------------------------
including 110.13 111.62 1.49 4.90
-----------------------------------------------------
and 113.95 116.12 2.17 3.28
-----------------------------------------------------
06AR006 NSR(i)
-----------------------------------------------------
06AR007 130.30 140.51 10.21 3.75
-----------------------------------------------------
including 131.34 134.46 3.12 5.41
-----------------------------------------------------
and 137.18 140.51 3.33 5.38
-----------------------------------------------------
162.34 162.84 0.50 1.46
-----------------------------------------------------
170.63 171.44 0.81 1.95
-----------------------------------------------------
181.42 182.28 0.86 2.34
-----------------------------------------------------
222.88 224.79 1.91 1.39
-----------------------------------------------------
06AR008 74.66 75.33 0.67 1.51
-----------------------------------------------------
78.16 79.16 1.0 1.10
-----------------------------------------------------
100.35 101.23 0.88 1.06
-----------------------------------------------------
114.58 115.57 0.99 1.05
-----------------------------------------------------
131.56 132.43 0.87 3.41
-----------------------------------------------------
136.47 136.77 0.30 1.35
-----------------------------------------------------
195.27 199.93 4.66 1.53
-----------------------------------------------------
including 195.27 197.21 1.94 2.99
-----------------------------------------------------
06AR009 76.29 78.33 2.04 2.15
-----------------------------------------------------
83.25 84.19 0.94 4.47
-----------------------------------------------------
165.00 166.00 1.00 1.71
-----------------------------------------------------
183.43 183.74 0.31 2.49
-----------------------------------------------------
250.59 252.00 1.41 1.10
-----------------------------------------------------
06AR010 NSR(i)
-----------------------------------------------------
NSR(i) - No Significant Results


West Plains

Committee Bay has completed an additional drill hole at the West Plains target where a gold zone extending over 200m along strike has been delineated (see press release August 8, 2006). Hole 06WP012 drilled 25m below 06WP011 and intersected 8.39 g/t over 2.05m.



Table 2. 2006 West Plains Drill Results(i)
----------------------------------------------------
Hole # From To Length Gold Grade
(m) (m) (m) (g/t)
----------------------------------------------------
06WP006(ii) 94.00 96.00 2.00 5.84
----------------------------------------------------
and 109.00 117.00 8.00 13.14
----------------------------------------------------
and 136.00 138.00 2.00 5.51
----------------------------------------------------
06WP007(ii) 61.00 62.00 1.00 1.37
----------------------------------------------------
06WP008(ii) 55.65 56.30 0.65 1.09
----------------------------------------------------
06WP009(ii) 39.00 44.00 5.00 3.90
----------------------------------------------------
including 42.00 44.00 2.00 6.99
----------------------------------------------------
06WP009(ii) 62.61 71.55 8.94 3.24
----------------------------------------------------
including 65.00 68.00 3.00 5.56
----------------------------------------------------
06WP010(ii) 90.00 97.00 7.00 8.44
----------------------------------------------------
including 95.00 97.00 2.00 19.65
----------------------------------------------------
06WP011(ii) 82.65 84.00 1.35 2.40
----------------------------------------------------
06WP012(ii) 109.00 111.05 2.05 8.39
----------------------------------------------------
(i) True widths have not been determined

(ii) Previously released drill hole results


Mineralization at West Plains occurs within a third order shear zone related to the regional Amer structure which transects the southwest portion of the Committee Bay Greenstone Belt. Mineralization identified to date in the structure is hosted in sheared iron formation and is localized within a flexure in the shear zone. Drilling to date has traced the mineralization over a strike length of 200m and has tested to 80m below surface. The mineralization remains open down plunge and to depth. The Company is encouraged by the recent results and plans to review the data in order to conduct further exploration and drilling in 2007.

CBR maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, P.Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of Committee Bay's QA/QC program is provided on the Company's website at www.committeebay.com

About Committee Bay Project

The Committee Bay greenstone belt is 300 km long and is one of the longest and least explored greenstone belts in Canada. The Company holds greater than 900,000 acres of land with prospective geology in the Committee Bay area and controls over 85% of the belt. Committee Bay 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, CEO & Director

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: www.committeebay.com