News: CBP-RSC Drilling in OtishDrilling Underway on Pacific Bay Otish Uranium Claims, Quebec
Vancouver, British Columbia, November 5, 2007 -- Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX Venture: CBP, the "Company") is pleased to announce that Strateco Resources Inc. has commenced drilling on Pacific Bay's claims in the Otish Mountains of Québec. –Under an option agreement announced on October 29, 2007, Strateco can earn a 60% interest in the property by paying Pacific Bay $500,000 and 200,000 Strateco shares and spending $3 million over 4 years, to including a minimum of 2,500 meters of drilling each year.
Strateco has selected Pacific Bay's "Rabbit Ears" area as its first drill target, where an airborne magnetic linear feature, coincident with an airborne and ground radiometric anomaly, was followed up by a ground VLF/magnetic geophysical survey in September.
George Sanders, P.Geo, President of Consolidated Pacific Bay Minerals, Ltd. and Qualified Person under National Instrument 43-101 for this News Release states: "This is a key milestone for Pacific Bay in the emerging Matoush uranium district. We have an excellent partner in Strateco Resources, and geologists from both companies are busy building a combined database that will greatly enhance the chances of finding more uranium deposits in this camp."
Maps of Pacific Bay's Matoush claims are posted on our website. Consolidated Pacific Bay Minerals, Ltd. explores for uranium in Québec and for uranium and precious metals in Argentina. Please visit our website pacificbayminerals.com for more information on all our programs.
On behalf of the Board of Directors:
"GEORGE SANDERS"
___________________________________
CEO & Director,
Cons. Pacific Bay Minerals Ltd.
--------------------------------------------------------------------------------
For Further Information Please Call:
1-800-670-6570 (Canada)
or 1-800-665-5101 (USA)
604-682-2421 (Local)
Email: ir@pacificbayminerals.com
Web: https://www.pacificbayminerals.com
Stock Quotation:
CBP : TSX VENTURE EXCHANGE
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
About Consolidated Pacific Bay Minerals Ltd.
PacBay is a Canadian Resource company actively exploring for uranium and gold in Quebec and Argentina. Drawing on over 100 years of combined experience, the Company's management has also acquired well located resource properties in British Columbia, and the Yukon.
Forward Looking Statements
There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes", "may", "plans", "will", "estimate", "continue", "anticipates", "intends", "expects" and similar uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, Pacific Bay's exploration results and risks associated with the exploration activity. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.