Consolidated Pacific Bay Minerals Ltd.
TSX VENTURE : CBP

Consolidated Pacific Bay Minerals Ltd.

November 28, 2006 09:00 ET

Pacific Bay Adds 75 Key Uranium Claims to Matoush Block, Otish Mountains, Quebec

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 28, 2006) - Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX VENTURE:CBP) (the "Company") is pleased to announce the acquisition of an additional 75 claims in the Matoush area of Quebec's Otish Mountains. These claims have been purchased from a private individual for a total of $28,848, and carry a 2% NSR. PacBay now has 100% interest in 253 claims in the Matoush area totalling over 112 km2 (43 mi2). A number of these claims lie close to, and on-trend with, the high-grade Matoush structure discovered by Uranerz Exploration and Mining in the 1980's and currently being drilled by Strateco Resources, Inc.

PacBay has now received the final results of a detailed 1,600 line-kilometre helicopter survey flown by Aeroquest International in August, 2006. The radiometric, magnetic and IMPULSE® EM (electro-magnetic) data is being analyzed in detail. PacBay's winter program envisages line cutting and appropriate ground geophysical surveys to locate areas for subsequent drill target definition. Rehabilitation of the Eastmain winter road now becomes critical for access to the properties, and pertinent discussions with Strateco Resources and Cameco Corporation are ongoing towards this goal of opening the road. Selection of a suitable drilling contractor is in-progress.

George Sanders, P.Geo, President, and a Qualified Person under National Instrument 43-101 for the purposes of this News Release, states "With this additional key land acquisition, PacBay has again enhanced its position in this important high-grade uranium play." A new graphic showing these 75 claims has been posted on our website. The Company also reports that the board of directors has granted 550,000 incentive options at a price of $0.30 for a period of 2 years. Consolidated Pacific Bay Minerals, Ltd. is actively exploring for uranium and precious metals in Quebec and Argentina. Please visit our website www.pacificbayminerals.com for information on all of our programs.

ON BEHALF OF THE BOARD OF DIRECTORS

George Sanders

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.
    George Sanders
    President
    (604) 682-2421
    (604) 682-7576 (FAX)
    Website: www.pacificbayminerals.com