PBM Pacific Bay Minerals Ltd

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM),
the "Company" reports that the Company has acquired, subject to regulatory
approval, 100% of four mineral claims in the Slate Bay area of the Red Lake gold
district in the province of Ontario, comprising 44 units and totalling 704
hectares (the "Property"). The Property, which adjoins claims held by Gold Corp
and Rubicon Minerals, covers ground, believed by previous operators, to be
geologically favourable for economic gold mineralization. The purchase price for
the property is $25,000 in cash plus 100,000 shares, of which $15,000 and 50,000
shares is payable upon TSX Venture Exchange approval and the balance of $10,000
and 50,000 shares is payable within 12 months of approval. There is a 1.5% NSR
in favour of the vendor which is purchasable by the Company for $1 million.


"This strategic acquisition gives Pacific Bay shareholders exposure in one of
the world's richest gold mining districts, where significant new discoveries are
still being made," said Pacific Bay CEO David H. Brett. "This Red Lake property
provides a good compliment to our portfolio of Uranium and other holdings."


The Property is the subject of a number of historical geological, geophysical,
geochemical and drilling reports and is underlain by metavolcanics and
metasediments, granitic intrusive, quartz veining, carbonate, pryrite and
fuchsite alteration features are present in a number of locations. Past work
included limited drilling of iron formations with anomalous but sub-economic
gold mineralization. The Company believes that further evaluation of the
Property's gold potential is warranted.


About Pacific Bay Minerals Ltd. Pacific Bay is a mineral exploration company
with a diverse portfolio of properties with an emphasis on Uranium discovery.
The Company has extensive land holdings in Quebec's Otish Mountains Uranium
region, uranium and gold prospects in Argentina, an advanced base and precious
metal prospect in northern British Columbia, and an exploration office seeking
uranium opportunities in Namibia, Africa.


The technical information contained in this news release has been reviewed and
approved by Ernie Black, P.Eng., a consultant to the Company and a Qualified
Person under policy NI43-101.


Pacific Bay Minerals Ltd.

David H. Brett, MBA, President & CEO

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