Consolidated Pacific Bay Minerals Ltd.

Consolidated Pacific Bay Minerals Ltd.

March 28, 2007 09:00 ET

Pacific Bay Takes Control of Papaskwasati Formation, Otish Mountains, Quebec

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2007) - Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX VENTURE:CBP) (the "Company"), is pleased to report that Pacific Bay has staked 622 mineral claims over the bulk of the Papaskwasati Formation in the Mistassini Basin of Quebec's Otish Mountains region. Pacific Bay now controls a dominant land position in this major uranium exploration area adjacent to the Otish Basin. The new claims cover areas of surface uranium showings and historic radioactive drill hole intersections.

Like the Athabasca Basin and the nearby Otish Basin, the Papaskwasati (Pepeshquasati) Formation is predominantly a sandstone/conglomerate sequence of Proterozoic age. Pacific Bay now holds a 100% interest in 622 mineral claims covering a total area of 333 square kilometres (128 square miles) of the Papaskwasati sub-basin and surrounding Archaean basement rocks. These claims host historical uranium showings, both at surface and in drill holes put down during the earlier uranium exploration cycles beginning in the late 1950's. These new claims bring PacBay's current land holdings in the Otish Mountains and Papaskwasati Basin to 907 claims, totalling 483 square kilometres (186 square miles).

Following entry into the Otish Mountains uranium exploration play in early 2006, via acquisition of a key land position in the Matoush area of the Otish Basin, Pacific Bay geologists embarked on a literature search that took advantage of the uranium knowledge and experience of company Director, Ernest D. Black, P.Eng and Advisor, Dr. Bernhard Free. Ernie Black drew attention to the 300 to 500-metre thick section of sandstones and conglomerates of the Papaskwasati Formation, which resemble clastic sediments of its western Otish Basin counterpart -- both lithologically and structurally. Like the Otish, the Papaskwasati is highly prospective for Athabasca Basin-type and Otish-type high-grade uranium deposits. Drill logs in historical assessment documents reported anomalous radiation in 3 holes drilled in 1969 in sandstones and conglomerates in the south-central portion of the Papaskwasati Basin. When plotted together with two of the surface uranium showings in the basin sandstones, they line up in a NW direction -- following the projection of the Takwa Greenstone Belt in the Archaean basement beneath the Papaskwasati Formation sediments. Pacific Bay's strategy was to stake the the basin where the favourable sedimentary sequence is thickest. PacBay is currently planning airborne electromagnetic, magnetic and radiometric surveys, to be followed by detailed ground magnetic-VLF/EM and radiometric surveys along with outcrop and glacial/boulder mapping. Drilling will follow as opportunities arise.

George Sanders, P.Geo, President, and a Qualified Person under National Instrument 43-101 for the purposes of this News Release, states, "The Papaskwasati Basin staking gives PacBay a dominant land position within a very favourable uranium potential host rock sequence, immediately adjacent to the company's Otish Basin project area. We are leveraging our experience in the Otish-Matoush area to prospect for and hopefully identify economic grade uranium deposits in a similar geological environment, and we're starting with significant known uranium anomalies already present on our claims."

New graphics showing the Papaskwasati Basin claims, regional Archean greenstone belts and old drill hole and surface uranium showings are posted on our website. Pacific Bay is currently exploring for uranium and precious metals in Quebec and Argentina. Please visit for more information.


George Sanders, President, 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)