PBM Pacific Bay Minerals Ltd

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM)
(the "Company") reports that assay results from a recently completed
reconnaissance exploration program at the Company's 100% owned Cueva del Chacho
claims in La Rioja Province, Argentina, confirmed the property's strong
potential for Rare Earth Element ("REE") exploration. Values up to 0.33% Total
REEs ("TREEs") were obtained, with heavy rare earths comprising up to 71% of the
contained TREEs. Heavy REEs ("HREEs") are economically more attractive and rare
than light REEs. A detailed summary of the more significant results is inserted
below.


The strong REE values were obtained through an initial collection of 39 samples
over an area of roughly 6 square kilometers on the Cueva del Chacho Property in
both coarse sediments and in leucocratic granite. The hosts and controls of this
mineralization are now better understood as a model for future exploration, and
the property is being expanded accordingly. 


"Unlike many REE concentrations, the heavier rare earths have not been depleted,
with the exception of Europium," said project geologist Dr. Richard Culbert,
Ph.D. "Ratios of heavier to lighter elements, have maintained values similar to
those reported for crustal averages. The heavy rare earths comprise an average
of 29% of the total rare earths, ranging up to 71% if Yttrium is included, and
an average of 14% with a high of 44% if it is not."


The symbol (i) represents those samples that have been submitted for
petrographic analysis to definitively determine rock types.




Sample #     TREE + Y (PPM) % TREE + Y    % HREEs              Lithology
------------------------------------------------------------------------
                                                                       
CC 21                3,333        0.33%      26.2%        altered grit(i)
CC 6                 2,821        0.28%      38.3%          arkosic grit
CC 20                2,557        0.26%      34.1%         wash sediment
CC 12                2,113        0.21%      23.6%        altered grit(i)
CC 30                1,592        0.16%      21.1%        altered grit(i)
CC 31                1,170        0.12%      27.4%        altered grit(i)
CC 29                1,103        0.11%      19.4%        dark siltstone
CC 5                 1,024        0.10%      33.2%        dark siltstone
CC 13                  886        0.09%      24.0%  black silty phyllite
CC 27                  818        0.08%      71.9%     fissile siltstone
PX 1                   799        0.08%      31.7%        fine intrusive
CC 22                  732        0.07%      38.3%      rusty alteration
CC 26                  543        0.05%      31.3%                 grits



A geological report prepared by Dr. Culbert on the Cueva Del Chacho property
including the recent work can be downloaded from the Company's website at
http://www.pacificbayminerals.com/projects/cueva-del-chacho.html.


About Pacific Bay. Pacific Bay has a diverse portfolio of uranium, silver and
base metals properties, including extensive holdings in Quebec's Otish Mountains
Uranium region and the San Jorge uranium basin in Chubut Province, Argentina.
Pacific Bay's strategy is to explore its properties mainly through strong
partnerships, such as Strateco Resources Inc. (Quebec) and UrAmerica
(Argentina).


The technical information contained in this news release has been reviewed and
approved by Dr. Richard Culbert, PhD., P.Geo. 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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