Mill Bay Ventures Inc.
TSX VENTURE : MBV
PINK SHEETS : MLBVF
FRANKFURT : M4K

Mill Bay Ventures Inc.

September 16, 2011 11:48 ET

Mill Bay Ventures Increases Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2011) - Mill Bay Ventures Inc. (TSX VENTURE:MBV)(PINK SHEETS:MLBVF)(FRANKFURT:M4K) (the "Company") is amending its previously announced private placement to 8,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for gross proceeds totalling $800,000. The private placement has been increased by $300,000 from the original announcement. Each Unit will consist of one common share and one common share purchase warrant (the "Warrant"). Each Warrant will be exercisable at $0.15 for six months from the date of issuance, at $0.25 in months seven through twelve from the date of issuance, and at $0.50 in months thirteen through twenty-four from the date of issuance.

The Company may pay a finders fee to certain parties in respect to the private placement in accordance with securities legislation and TSX Venture Exchange policies. The private placement is subject to approval by the TSX Venture Exchange.

Proceeds arising from the sale of the Units will be used for general working capital purposes and to conduct further work programs on its 100% Valentine Mountain gold project, located 35 km northwest of Sooke, BC. (see the Company's news release dated July 19, 2011 regarding drill program results and an updated mineral resource estimate prepared in accordance with NI-43-101 by Jacques Houle, P.Eng. on April 14, 2011. Report on website: www.millbayventures.com).

For further information on the the Company`s exploration properties, please visit the Company`s website at www.millbayventures.com.

ON BEHALF OF THE BOARD

William Glasier, President

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Shares issued: 12,196,539

Last Trading Price: $0.11

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

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