Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

September 06, 2007 09:00 ET

Committee Bay Resources Ltd.: Three Bluffs Drilling Delivers Outstanding Intercepts

19.44 g/t Au over 23.67 metres, 38.59 g/t Au over 9.34 metres and 9.54 g/t Au over 20.94 metres Committee Bay Greenstone Belt Project, Nunavut, Canada

EDMONTON, ALBERTA--(Marketwire - Sept. 6, 2007) - Committee Bay Resources Ltd. (TSX VENTURE:CBR) ("Committee Bay") today announced drill results from the initial eight holes of a 24 hole drill program on the Three Bluffs Deposit at the Committee Bay Greenstone Belt Project in Nunavut, Canada. These infill drill holes confirm consistent widths and high grades of the Three Bluffs gold deposit and will be used to upgrade the current Inferred Resource of 487,000 ounces(i).

Key Highlight Points:

- High grade gold intercepts include 19.44 g/t Au over 23.67 metres, 38.59 g/t Au over 9.34 metres, and 9.54 g/t Au over 20.94 metres within the high grade "hinge zone"

- Sections of high grade and broad intervals have potentially expanded the current resource area

- Additional infill and expansion drill results pending from 16 holes

"The initial gold values from this drill program are outstanding." stated Committee Bay CEO and President, John Williamson. "Hole 07TB048 has yielded the second highest 'grade times thickness' gold value we have encountered since we started exploring the Committee Bay Greenstone Belt."

These eight holes represent the initial results from Committee Bay's CDN$5.5 million 2007 program, focused primarily on upgrading and expanding the Three Bluffs resource. In 2007, 3,570 metres in 24 holes have been completed at Three Bluffs, with results from 16 holes pending. Upon receipt of the final assay results, the Company will initiate a new updated resource estimate for the Three Bluffs Deposit.(i) (See Figures 1 & 2 below for hole pattern). It is anticipated that infill drilling at a nominal 30m by 30m intervals will result in upgrading the resource to indicated status, while deeper, wider spaced step out drilling will add new inferred ounces.

Three Bluffs Deposit

The Three Bluffs Deposit is in the central portion of the Committee Bay Greenstone belt, which is northeast of Baker Lake, Nunavut. The deposit is hosted within a folded iron formation. Previous drilling at Three Bluffs has defined gold mineralization for at least 1 kilometre along strike, with the greatest concentration of gold situated in a shallow east-plunging fold hinge of iron formation. High grade gold mineralization has also been identified in the limbs of the fold, to over 300m below surface, and remains open to depth along the 1 kilometre of identified strike length. Furthermore, additional exploration potential exists to the west and the high grade hinge zone which plunges shallowly east, may extend eastwards below a flat lying diorite intrusion.

(i)A high grade Inferred Mineral Resource of 1.9 millions tonnes grading 8.0 g/t Au for 487,000 ounces was calculated in 2004, using data from 49 drill holes. Using a lower cutoff grade, the Inferred Mineral Resource is increased to 5.1 million tonnes grading 4.0 g/t Au for 657,000 ounces. (See Company press release dated November 29, 2004)

Table 1. Three Bluffs Drill Results- 2007 Summer Program(ii)



----------------------------------------------------------------
Grade-
Thick-
ness
Hole From (m) To (m) Interval (m) Au g/t (gxm) Limb
----------------------------------------------------------------
07TB045 62.04 103.00 40.96 5.10 208.90 hinge
----------------------------------------------------------------
including 67.09 88.03 20.94 9.54 199.77 hinge
----------------------------------------------------------------
including 78.22 88.03 9.81 19.07 187.08 hinge
----------------------------------------------------------------
including 79.12 84.17 5.05 16.51 83.38 hinge
----------------------------------------------------------------
07TB046 53.00 103.00 50.00 3.84 192.00 hinge
----------------------------------------------------------------
including 63.00 102.00 39.00 4.76 185.74 hinge
----------------------------------------------------------------
including 73.00 83.00 10.00 11.64 116.35 hinge
----------------------------------------------------------------
including 75.00 79.00 4.00 18.12 72.48 hinge
----------------------------------------------------------------
07TB047 115.00 121.00 6.00 1.73 10.38 S-limb
----------------------------------------------------------------
and 153.66 159.60 6.24 3.51 21.90 N-limb
----------------------------------------------------------------
including 156.00 159.60 3.60 5.73 20.64 N-limb
----------------------------------------------------------------
07TB048 34.33 58.00 23.67 19.44 460.14 hinge
----------------------------------------------------------------
including 36.00 50.50 14.50 30.72 445.44 hinge
----------------------------------------------------------------
07TB049 87.00 96.34 9.34 38.59 360.43 S-limb
----------------------------------------------------------------
07TB050 81.00 83.00 12.00 2.25 27.00 S-limb
----------------------------------------------------------------
and 118.00 128.00 10.00 1.05 10.46 N-limb
----------------------------------------------------------------
07TB051 46.00 74.00 28.00 2.09 58.50 hinge
----------------------------------------------------------------
including 57.00 59.00 2.00 6.55 13.09 hinge
----------------------------------------------------------------
and 70.00 73.00 3.00 4.23 12.69 hinge
----------------------------------------------------------------
07TB052 102.00 126.09 24.09 2.53 60.91 S-limb
----------------------------------------------------------------
including 117.00 123.00 6.00 7.37 44.21 S-limb
----------------------------------------------------------------
144.00 156.00 12.00 3.98 47.76 N-limb
----------------------------------------------------------------
including 152.00 155.00 3.00 9.27 27.81 N-limb
----------------------------------------------------------------
(ii)Note: Grade-Thickness calculated utilizing down hole lengths


About Committee Bay Project

The Committee Bay Greenstone Belt is 300 km long, 5 to 50 km wide and geologically comparable to the great Canadian gold producing greenstone belts of Red Lake, Timmins and Kirkland Lake. Drilling at the Three Bluffs prospect in 2004 defined an Inferred Resource of 1.9 million tonnes at 8.0 grams per tonne (g/t) Au for 487,000 contained ounces ((i)See CBR press release - November 29, 2004). The Committee Bay belt currently hosts more than 40 high-grade gold occurrences but remains one of the longest and least explored greenstone belts in Canada. Committee Bay currently holds a 100% interest in approximately 640,000 acres if land with prospective geology along the Committee Bay belt.

About Committee Bay Resources Ltd.

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.

Committee Bay Resources Ltd. 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.

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.

Figure 1. Three Bluffs Deposit Long Section Map - South Limb is available at the following web link:

http://www.ccnmatthews.com/docs/cbr0906fig1.jpg

(Note: grade-thickness products of 30 gram-metres and above are considered of particular interest)

Figure 2. Three Bluffs Deposit Long Section Map - North Limb is available at the following web link:

http://www.ccnmatthews.com/docs/cbr0906fig2.jpg

(Note: grade-thickness products of 30 gram-metres and above are considered of particular interest)

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) 646-4527 or Toll Free: 1-888-331-2269
    (604) 646-4526 (FAX)
    or
    Committee Bay Resources Ltd.
    Jim Paterson
    Investor Relations
    (604) 646-4527 or Toll Free: 1-888-331-2269
    (604) 646-4526 (FAX)
    Website: www.committeebay.com