PACIFIC BAY

Pacific Bay Minerals Ltd. has received notice from partner Strateco Resources (TSX – RSC) that Strateco has competed 10 drill holes comprising 5,511 metres of drilling targeting the Alfred Fault, a structure prospective for uranium located on claims owned by Pacific Bay, under option to Strateco (Strateco is earning 60%).

Pacific Bay Minerals Ltd. reported that mineral claims staked by Pacific Bay in northern BC cover the highest gold silt sample site (7,086 parts per billion Au) reported in the recently-released Geoscience B.C. re-analysis of over 10,000 samples from across the northern part of the province.

Strateco Resources Inc. announced the closing of a non-brokered private placement consisting of 2,500,000 flow-through common shares issued at the price of $1.00 per share for a total amount of Can$2.5 million. The flow-through proceeds will be used to incur eligible exploration expenses on its Matoush project including Matoush, Matoush Extension, Eclat and Pacific Bay - Matoush properties and also on the Mistassini property, all located in Quebec, Canada.