Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

July 11, 2007 09:00 ET

Committee Bay Resources Ltd.: Exploration Drill Programs Commence at Bayleys and CNX RJV Targets Additional High Grade Targets, Coolgardie, Western Australia

EDMONTON, ALBERTA--(Marketwire - July 11, 2007) - Committee Bay Resources Ltd. (TSX VENTURE:CBR) ("Committee Bay" or the "Company") and Australian Redemption Joint Venture ("RJV") partner Focus Minerals Ltd. (FML: ASX) today announced that exploration drilling has commenced on the Bayleys and CNX targets at the Coolgardie Project in Western Australia. A combination of reverse circulation (RC) and diamond drill core drilling, totaling 2,500 metres, will test near surface high-grade gold prospects identified in recent geological compilations by the RJV. This work is part of an AUD$8 million exploration program scheduled for this year (see Figure 1 to view area map for locations of Bayleys and CNX targets).

Bayleys Target

The Bayleys target encompasses the Bayleys line, where historic mining along a mafic-ultramafic contact within multiple fault bounded panels has produced in excess of 350,000 ounces gold grading 11.21 g/t Au. During 2006, a comprehensive compilation and geological modeling exercise was initiated by the RJV to assess the potential to find additional high grade resources within the historically mined areas and to identify new exploration targets within the Bayleys system.

The RJV considers Bayleys to be a priority exploration target for high grade ounces, due to the size and the relatively high grade tenor of the system as demonstrated by historic production. The 2006 compilation work identified significant potential in the Bayleys system both as un-mined high grade intersections within historic drill holes, and as untested extensions to historically mined areas which have never been drill tested. Significant underground infrastructure also exists throughout the historically mined areas, which could quickly be rehabilitated to provide near term production should a resource be identified.

The 2007 program is comprised of a six hole, 950m RC program designed to test a high priority target area identified during the 2006 compilation work. The targeted area is the up-dip extension of the western margin of the Prices lodes which have developed near the intersection of the Prices panel with the Hillside Fault. The Prices lodes were explored by drifting, and no significant drilling has been previously conducted within the target area.

To view recent pictures of gold samples taken at the Redemption Joint Venture Project, including photos of gold nuggets discovered on surface by prospectors working at the Bayleys area, click on the following link http://www.committeebay.com/photo_gallery/rjv/.

CNX Target

The CNX target lies immediately west of, and within the same geological trend as, the Three Mile Hill Pit which historically produced 324,116 ounces from sheeted veins and stockworks hosted in granophyric dolerite. Historic exploration RC drilling to the west of Three Mile Hill Mill identified widespread mineralization within the on strike extension of the Three Mile Hill dolerite, and a shallow pit (CNX) was mined during the 1990's. While considerable RC drilling exists in the CNX pit area, the historic drilling has all been to relatively shallow levels, and the known mineralization has not been effectively closed off to depth. To the northwest of the CNX pit, historic shallow RAB drilling indicates that mineralization continues within the granophyric dolerite for at least an additional 400m which to date remains untested beyond 10m below surface.

The 2007 RJV CNX program is comprised of 1,050m of RC and 500m of core drilling. This drill program will test the potential for mineralization near the CNX pit and explore the northwest extension over the known 400m strike length.

Coolgardie Project, Western Australia

Committee Bay Resources Ltd., through the Redemption Joint Venture (Committee Bay in a 50% partnership with Focus Minerals Ltd. ASX:FML), has the mineral rights to more than 210 km2 of under-explored greenstone tenements, located in one of the world's most significant gold and nickel mining regions. These tenements contain Measured Resources of 31,014 ounces gold(i) (0.55 million tonnes at 1.77 g/t gold), Indicated Resources of 354,124 ounces gold(i) (6.03 million tonnes at 1.83 g/t gold) and Inferred Resources of 1,151,419 ounces gold(i) (13.50 million tonnes at 2.65 g/t gold). The RJV also has a 100% interest in the fully permitted, 1.2mtpa, Three Mile Hill Mill processing plant.

(i)For more information on the stated gold resources and historic drill results of Committee Bay Resources Ltd., please refer to the detailed NI 43-101 compliant technical reports filed on SEDAR by Committee Bay on February 26, 2007.

Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property as detailed in Committee Bay Resources Ltd. 'Technical Report for the Coolgardie Gold Project, Coolgardie, Western Australia' by Dean Besserer - May 27, 2005 pp. 76-80. The program is supervised by Peter Kleespies, M.Sc. P.Geol., and Vice President of Exploration, who is the Qualified Person as defined by NI 43-101.

About Committee Bay

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

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.

To view Figure 1 please click on: http://www.ccnmatthews.com/docs/cbr0711.jpg

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) 646-4524 or Toll Free: 1-888-331-2269
    Website: www.committeebay.com