Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

September 14, 2007 09:00 ET

Drill Program Extended at Three Bluffs Deposit Committee Bay Greenstone Belt Project, Nunavut, Canada

EDMONTON, ALBERTA--(Marketwire - Sept. 14, 2007) - Committee Bay Resources Ltd. (TSX VENTURE:CBR) ("Committee Bay" or the "Company") today announced the extension of the Three Bluffs infill and step-out drill program, ongoing at the Committee Bay Greenstone Belt Project in Nunavut, Canada. The objective of the additional infill drilling is to upgrade the current Inferred Resource of 487,000 ounces(i) Au to an Indicated Resource category, while the deeper, wider spaced step out drilling will concentrate on adding new Inferred Resource ounces.

Key Highlight Points:

- Drilling will continue at Three Bluffs Deposit into October 2007

- Highlights from this year's program to date included intercepts of:

- 19.44 g/t Au over 23.67 metres

- 38.59 g/t Au over 9.34 metres

- 13.69 g/t Au over 12.00 metres

- Up to 2,000 metres of additional drilling planned

- Additional $1 million budgeted for continued exploration

Due to the highly successful summer 2007 exploration program, the Company is extending the drill program at the Three Bluffs Deposit. This year, the Company has drilled 3,600 metres on the Three Bluffs Deposit and 1,100 metres at the Inuk Prospect (See Company press release dated September 5, 2007) as part of a budgeted CDN$5.5 million exploration program.

Highlights from the Three Bluffs drilling included intercepts of 38.59 g/t Au over 9.34 metres in the South Limb zone and 19.44 g/t Au over 23.67 metres and 13.69 g/t Au over 12.00 metres which were both in the hinge zone. Assay results have now been released for 15 holes, with results pending from an additional 9 holes.

The extended $1 million program will be comprised of another 2,000 metres of drilling. Infill and expansion drilling will continue for at least one more month, or for as long as the weather permits. The infill drilling will focus on upgrading the existing Inferred Resource and step-out drilling will concentrate on adding new Inferred Resource ounces.

Committee Bay CEO and President, John Williamson, stated, "Based on the fact that the drill results have exceeded our expectations, and the drill rig and crews are still onsite, we felt that extending the program would maximize our exploration expenditures."

About 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 (km) 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 km 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)To date, 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). A new resource calculation will be commenced after completion of the 2007 Three Bluffs drill program.

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 (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 of 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.

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
    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