PBM Pacific Bay Minerals Ltd

Mr. David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX
VENTURE:PBM) (the "Company" or "Pacific Bay") reports that the Company has
entered into an option and joint venture agreement (the "Agreement") with Otish
Energy Inc. ("Otish"), subject to regulatory approval, whereby Otish can earn up
to a 60% interest in the Company's "Otish South" property located in the Otish
Mountains uranium district, Quebec (the "Property"). Property comprises 33
square kilometres and forms a key-shaped group of claims at the junction of
large claim blocks controlled by Cameco, Ditem and Dios on the South West nose
of the elongated Otish Basin.


Under the Agreement, to earn a 60% interest in the Property, Otish must over 3
years:


- pay the Company $150,000, $25,000 upon TSX-V approval

- issue to Pacific Bay 600,000 shares of Otish, 100,000 upon TSX-V approval

- Incur $1,125,000 in exploration expenditures over 3 years, with $250,000
required in the first year.


Upon Otish earning a 60% interest in the Property on completion of the above,
the parties will form a joint venture whereby each will participate in programs
and budgets according to their respective working interests.


"I'm very pleased to partner with Otish Energy on this strategically located
property," said Pacific Bay CEO David H. Brett. "Otish Energy has assembled a
strong team with uranium expertise and an ability to execute programs
efficiently in this region."


Pacific Bay Minerals Ltd.

David H. Brett, MBA, President & CEO

Pacific Bay Minerals (TSXV:PBM)
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