Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

April 10, 2007 11:11 ET

Committee Bay Resources Ltd.: Initial Perseverance Resource Boosts Gold Inventory Within Tindals Mining Centre

New 89,600oz High-Grade Inferred Gold Resource Redemption Joint Venture ("RJV") Project, Western Australia

EDMONTON, ALBERTA--(CCNMatthews - April 10, 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 an initial JORC-compliant Inferred Gold Resource of 89,600 ounces for the high-grade Perseverance deposit within the Redemption Joint Venture at Coolgardie, Western Australia. The initial Inferred Resource for the Perseverance deposit totals 300,000 tonnes at an average grade of 9.4 grams per tonne ("g/t") Au for 89,600 contained ounces of gold.

"The high-grade Perseverance zones can be relatively quickly and easily accessed through the establishment of an underground exploration and development drive from the existing historic workings at Empress," stated John Williamson, Committee Bay's President and CEO. "As the mineralized zone remains open down-dip and along strike, intensive drilling is continuing with the objective of defining additional high-grade gold ounces to increase this initial resource. Currently there are eight additional drill holes pending assays or in progress, and an additional 2500m of exploratory drilling has been planned."

Perseverance is one of several zones which form part of the broader Tindals Mining Centre, a significant mineralized system which represents a key development focus for the Redemption Joint Venture. The partners announced an updated combined resource for the centrally located Tindals Mining Centre in January this year of 742,500 tonnes at 4.97g/t Au for 118,546 ounces.

The new Perseverance resource increases the combined Tindals gold inventory to 208,146 ounces. Significantly, the high-grade deposit is located just 280m north of existing underground infrastructure and the other deposits of the Tindals Mining Centre, which historically produced more than half a million ounces of gold from open pit and underground sources.

The inaugural resource estimate is based on the results of an ongoing resource delineation and in-fill drilling program which, to date, has returned high-grade intercepts including 11m at 23.65g/t Au, 9m at 29.91g/t, 10.0m at 16.6g/t and 2m at 14.49g/t. The resource estimate includes results from the RJV's Phase 1 (see press release dated January 31, 2007), and Phase 2 (results given in Tables 1 and 2 below) drill programs. The high-grade Perseverance zones lie between 90m and 275m depth, vary in true width between 3m and 10m, and remain open down-dip, with significant potential for additional mineralization along strike to the south and north.

Preliminary metallurgical testwork conducted by AMMTEC indicate excellent gold recoveries at Perseverance in excess of 97% through combined gravity and direct cyanidation.

Committee Bay and Focus Minerals Ltd. recently announced expanded exploration, resource delineation and feasibility programs at the Coolgardie Project, with Committee Bay set to complete an AUS$8 million earn-in to acquire a 50% interest in the Project by April 2007 (See press release dated March 12, 2007).



Table 1 Phase 2 - Drill Highlights - Perseverance Quartz-Sulphide Lodes
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Hole ID From (m) To (m) Length Au g/t
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07PEC005 130.0 139.0 9.0 12.68
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including 130.0 134.0 4.0 26.48
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07PEC007 130.0 139.0 9.0 2.62
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including 124.0 127.0 3.0 4.30
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07PEC008 125.0 129.0 4.0 4.14
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and 139.0 142.0 3.0 3.60
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07PEC009 153.0 162.0 9.0 5.45
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including 160.0 162.0 2.0 16.47
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07PED006 228.6 240.0 11.4 5.65
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including 230.0 236.3 6.3 9.16
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Table 1 Phase 2 - Drill Highlights - Perseverance Perseverance Diorite
Hosted Stockwork mineralization
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Hole ID From (m) To (m) Length Au g/t
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07PEC005 169.0 179.0 10.0 1.78
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07PEC007 152.0 161.0 9.0 1.91
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07PEC008 160.0 162.0 2.0 26.65
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07PED006 262.0 263.0 1.0 18.52
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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 (0.55 million tonnes at 1.77 g/t gold), Indicated Resources of 354,124 ounces gold (6.03 million tonnes at 1.83 g/t gold) and Inferred Resources of 1,151,419 ounces gold (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.

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 and December 20, 2004, and by Matador Exploration Inc. (wholly owned subsidiary of Committee Bay Resources Ltd.) on July 18, 2005.

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.

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
    or
    Committee Bay Resources Ltd.
    Jim Paterson
    Investor Relations
    (604) 646-4524 or Toll Free: 1-888-331-2269
    Website: www.committeebay.com