Weda Bay Minerals Inc.
TSX : WDA

Weda Bay Minerals Inc.

March 31, 2006 10:17 ET

Weda Bay Minerals Announces Filing of 2005 Annual Statements

TORONTO, ONTARIO--(CCNMatthews - March 31, 2006) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES

The Board of Weda Bay Minerals Inc. (TSX:WDA) ("the Company") announced today that the Company has filed with Canadian securities regulators its audited consolidated financial statements for the year ended December 31, 2005, the related management's discussion and analysis and the Annual Information Form.

Subsequent to year-end, the Company announced on March 14, 2005 that it has entered into certain agreements with Eramet S.A. ("Eramet") pursuant to which Eramet has offered Cdn$2.70 per share in cash for all of the issued and outstanding common shares of Weda Bay.

Documents in respect of the above are available on SEDAR (www.sedar.ca) and the Company's website (www.wedabay.com)

Weda Bay Minerals Inc. (WDA) is an exploration and development company that controls Halmahera Nickel Cobalt Project at Weda Bay, Halmahera in Eastern Indonesia. Halmahera is one of the largest undeveloped nickel projects globally.

Shares Issued and Outstanding: 73,866,535



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