PBM Pacific Bay Minerals Ltd

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM)
(the "Company") reports that drilling by partner Strateco Resources Inc.
("Strateco") (TSX:RSC) on the Company's Otish Mountains uranium property in
Quebec has encountered a fault structure, named the Alfred Fault, which is very
similar to the Matoush Fault that hosts Strateco's neighbouring Matoush Uranium
Deposit. This discovery is the first time a Matoush-Style fault has been found
outside the Matoush Fault system. 


Strateco reported the following information in a news release today:

"...three holes drilled in early October to test a similar north-south striking
structure located 4.0 km west of the Matoush fault on the Pacific Bay-Matoush
property (where Strateco has an option on a 60% interest) proved conclusive. A
Matoush-type fault named the Alfred fault, with identical alteration to the
Matoush fault, was intersected over 365 metres. The geophysical anomaly
indicates that the Alfred fault extends northward and southward. This is one of
the most important discoveries on the Matoush project outside the Matoush fault
corridor. These holes, which intersected low uranium grades, show that other
Matoush-type structures (faults) exist elsewhere on the Matoush project." 


Dr. Bernie Free, Ph.D., senior consultant to Pacific Bay and noted expert
regarding the Matoush Deposit, stated: "The Strateco drilling results show: 1)
the coincident strike direction of the newly discovered Alfred Fault, 2) the
interception of a spatially associated basic dike and 3) an alteration halo
marked by strong fuchsite development. These three factors complete the analogy
with the original Matoush geologic setting. These results can be considered a
breakthrough as it represents the first time that a typical Matoush setting has
been discovered outside the Matoush fault itself."


"The discovery of the Alfred Fault is a giant step forward in the quest for a
parallel Matoush-Style uranium deposit," said Pacific Bay CEO David H. Brett.
"Strateco's mission to dramatically expand their uranium resources around the
Matoush deposit has achieved a significant milestone."


A total of 1,989 meters of drilling was carried out during the program. Pacific
Bay has granted to Strateco and extension of time to complete the balance of the
2,500 meter requirement for the current year of the option agreement. The
balance of the drilling is planned to start after freeze-up during the 2010/2011
exploration season. Strateco is current in all other aspects of the agreement,
including a recent payment to Pacific Bay of $125,000 and 50,000 shares of
Strateco.


The technical information in this news release was reviewed and approved by Doug
Blanchflower, P.Geo., a Qualified Person as defined by National Instrument
43-101.


Pacific Bay Minerals Ltd.

David H Brett, President & CEO

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