DARNLEY BAY RESOURCES LIMITED
TSX VENTURE : DBL

DARNLEY BAY RESOURCES LIMITED

February 01, 2011 15:43 ET

Darnley Bay Resources Prepares for 2011 Base Metals Drill Program and Updates Diamond Project

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) - Darnley Bay Resources Limited ("Darnley Bay") (TSX VENTURE:DBL) is currently preparing for the 2011 drilling program for base metals at its Paulatuk Property in the Northwest Territories. Two drill campaigns are planned, in winter/spring and summer/fall 2011. CEO Reford is currently in Paulatuk to lay the ground work for local hiring and to fine-tune the logistical aspects of the drilling. A reflection seismic survey is planned in February/March over drill targets to assess overburden conditions and optimize location of drill collars.

Darnley Bay Resources and Diadem Resources have an exploration partnership on the Franklin Diamond Project located on the Parry Peninsula, Northwest Territories. Diadem has reported the following progress:

"A total of five diamond drill holes totaling 707.6 metres in length were drilled during August 2010 to test four (4) negative ground magnetic anomalies (anomalies MT112, MT113, MT102 and MT10) in an area where kimberlite intrusives were discovered in an earlier exploration program carried out in 2000 and 2001. One of the magnetic anomalies was tested with two holes. In addition, ground-based total field magnetic surveys were carried out over three separate grids to evaluate anomalies detected in an earlier airborne magnetic survey carried out by Diadem. As a result of this drilling, 3 new kimberlite intrusives were discovered. A single hole to test anomaly MT113 failed to intersect any evidence of kimberlite in the core.

Samples from each of the newly discovered kimberlites were submitted to CF Mineral Research Ltd of Kelowna, British Columbia to be examined for the presence of KIMs (kimberlite indicator minerals). Preliminary reports received from CF Mineral Research Ltd. indicate the presence of a high incidence of chrome diopside, olivine together with purple and orange garnets (kimberlite indicator minerals) in the samples submitted. Of particular note is the presence of one microdiamond which measured approximately 0.25mm in diameter. A representative sampling of the KIMs will be scanned with an electron microscope, particularly those associated with the diamond that was recovered, and those with the best chemical compositions will be subjected to electron microprobe analyses. In addition, caustic fusion will be carried out to test for the presence of additional diamonds in the core.

This work is currently being carried out by CF Mineral Research Ltd. The results of these tests will be announced after the joint venture partners have had a chance to review and analyze them.

The technical information contained in this press release has been reviewed and approved by Mr. Thomas Skimming, P. Eng., Geologist and Director of Diadem Resources Ltd and a qualified person as defined by National Instrument 43-101."

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. Seven diamondiferous kimberlite pipes have been discovered in the same region. Darnley Bay is currently exploring and drilling for base metals on its 4,600 km2 land holding. It has a joint venture with Diadem Resources Ltd. on 33 claims that encompass thirteen kimberlite pipes.

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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