Consolidated Pacific Bay Minerals Ltd.
TSX VENTURE : CBP

Consolidated Pacific Bay Minerals Ltd.

February 20, 2008 09:00 ET

PacBay Identifies Significant Uranium Anomalies at Papaskwasati

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2008) - Mr. David Brett, CEO, Consolidated Pacific Bay Minerals Ltd. (TSX VENTURE:CBP) (the "Company") reports positive results of a helicopter radiometric and magnetic survey flown last summer.

The individual uranium targets on Pacific Bay's ground are detailed as follows:

Papaskwasati North Rim Group -- This is an area of shallow Proterozoic conglomerates and sandstones just above the Archean basement unconformity. Significant airborne radiometric anomalies were detected during Pacific Bay's 2007 airborne survey in the vicinity of a 1959 Phelps Dodge hole that intersected anomalous uranium in a radioactive conglomerate unit between depths of 18 to 72 feet.

Papaskwasati West Anomaly Group -- This is a NNE trending radiometric high within shallow Proterozoic sediments just inside the basin rim.

Papaskwasati Southwest Anomaly Area -- These are radiometric anomalies near the contact between the basal Proterozoic sandstones and conglomerates and the overlying dolomitic carbonate sequence of the upper Papaskwasati formation.

Papaskwasati East Fault Group -- These are the strongest airborne radiometric anomalies found in the 2007 survey. The Pacific Bay claims in this area cover the basin rim and extend into the Archean metasediments below the basement unconformity and also include portions of a large N-S trending gabbro dyke.

As expected, the radiometric signature over the thickest part of the basin is subdued. However, Pacific Bay staked the Papaskwasati basin to test the concept of deep seated uranium targets in the subsurface based on deep anomalous radioactivity in holes drilled by Soquem and Aurora in 1969. Targeting over the thickest sections of favourable Proterozoic sandstones and conglomerates will involve detailed analysis of the magnetic data to find the most persistent and through-going structures to narrow the search. In these major structural zones surface rocks will be prospected for subtle mineralogical clues to deep seated uranium mineralization, traces of which were found in the 1969 drilling. More prospecting is also warranted in the area of radioactive anomalies associated with gabbro dykes in the basin rim area of Pacific Bay's SW Otish claim block which lies only 25 kilometres north of the northernmost Papaskwasati claims.

New graphics of the Papaskwasati claims have been posted on our website. Consolidated Pacific Bay Minerals Ltd. explores for uranium and precious metals in Quebec and Argentina. Strateco Resources Inc. is currently earning into the Company's 277 Otish Matoush claim block under a 4 year Option Agreement. George Sanders, P.Geo, President, is a Qualified Person under National Instrument 43-101 for the technical portion of this News Release.

Consolidated Pacific Bay Minerals Ltd.

David Brett, CEO

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

Contact Information

  • Consolidated Pacific Bay Minerals Ltd.
    Investor Relations
    (604) 682-2421 or Toll Free: 1-800-670-6570 (Canada)
    Toll Free: 1-800-665-5101 (USA)
    (604) 682-7576 (FAX)
    Website: www.pacificbayminerals.com