Darnley Bay Resources Limited

Darnley Bay Resources Limited

August 19, 2011 14:04 ET

Darnley Bay Resources Announces Option Exercise

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2011) - Darnley Bay Resources (TSX VENTURE:DBL) today announced that the majority of the Insider options issued in 2009 which were available for exercise up until August 5, 2011 at $0.10 per share have been exercised. With almost 70% of the possible number of options exercised, the Company has received an additional $160,000 in working capital. Jay Richardson, CEO, commented, "This represents a strong expression of confidence in the Company and its future by these committed insiders since the options were not 'in the money'. I fully expect additional support as we develop our strategy for enhancing our shareholders' situation."

The Company has filed amended and restated interim financial statements for the period ended March 31, 2011. The revision includes an amended statement of changes in equity to include the three-month period ended March 31, 2010 as recommended after review by the Ontario Securities Commission.

About Darnley Bay Resources Limited:

Darnley Bay Resources Limited was formed in 1993 to explore for and develop base metal deposits related to the 50 km x 80 km, 132 mGal Darnley Bay gravity anomaly near Paulatuk, Northwest Territories, Canada. The source of the anomaly remains unexplained. Darnley Bay is exploring for base and precious metals on its 4,600 km² land holding and has a partnership with Diadem Resources Ltd. on 33 claims, as described in the news release of July 9, 2010, which encompass thirteen kimberlite pipes (seven proven diamondiferous).

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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