May 12, 2008 15:44 ET

Darnley Bay Resources Limited Announces New CEO

TORONTO, ONTARIO--(Marketwire - May 12, 2008) - Darnley Bay Resources Limited (TSX VENTURE:DBL) is pleased to announce that, following the Annual General Meeting to be held on June 26th, Stephen Reford will be appointed President and CEO and will carry the Company forward in its base metal and diamond exploration programs. Leon La Prairie, the founder of the Company and its chief executive officer, will remain as Chairman.

Stephen Reford graduated from the University of Toronto with a Bachelor of Applied Science from the Geophysics option of Engineering Science in 1981. He is a registered professional engineer in Ontario. He has been a consulting geophysicist with Paterson, Grant & Watson Limited since 1981, where he is currently Vice-President. He has managed several multi-million dollar exploration projects for industry and government. He has worked on the Darnley Bay Anomaly since 1994.

Due to concerns raised by the TSX Venture Exchange, the Company will not be proceeding with the $3 million private placement that it announced on April 1, 2008. The Company is continuing to assess other funding options currently available.

The Company was formed in 1993 to explore and develop an area of geophysical significance in the Northwest Territories of Canada. Initial base metal exploration fortuitously resulted in the discovery of diamonds, indicating that the area is host to both metallic and non-metallic mineral deposit interests. The Company's objectives are to secure and maintain successful financing partnerships to continue exploration for both base metals and diamonds that will result in the development of a profitable mining venture.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

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