NEWS!!!!Pacific Bay Discovers Radioactive Boulders On New Matoush Uranium Targets, Additional Ground Geophysics Underway
Vancouver, British Columbia, September 20, 2007 -- Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX Venture: CBP, the "Company") is pleased to announce that Pacific Bay geologists have discovered 4 significant radioactive boulder showings within known target areas and in new priority areas on its Matoush claims in the Otish Mountains of Québec. These discoveries are being followed up immediately by a ground geophysical survey (VLF/magnetics).
The newest feature to be identified from analysis of this summer's airborne survey data is a north-south trending magnetic linear with a coincident radiometric anomaly in "Block B" located approximately 10 kilometers southeast of the Matoush deposit. Here, Pacific Bay geologists have discovered radioactive sandstone boulders ranging from 800 to 1000 counts-per-second down-ice from the "Block B" magnetic linear (background radiation levels in the sandstone boulders in the Matoush area of the Otish Mountains plateau typically ranges from 100 to 200 counts per second).
Prospecting down ice from the "Rabbit Ears" magnetic linear feature approximately 12 kilometres northeast of the Matoush deposit has also found boulders ranging from 1000 to 1400 counts per second. Closer by, a radioactive boulder reading 1000 counts per second that contained the silicate mineral fuchsite, an important alteration mineral in the Matoush-type of uranium deposit, was discovered 6 kilometers southwest of the Matoush deposit in Grid 5, in an anomaly area identified by Uranerz Exploration and Mining in the 1980's. The most important radioactive showing to date is a large sandstone boulder that was found in-between the C-1 and C-3 VLF conductors in Grid 6, less than 3 kilometers east of the Matoush deposit, which read 6000 counts per second.
Camp Alfred, the Company’s base camp in the region, is being winterized to enable the Company to execute a heli-portable drilling program as soon as a rig becomes available.
In other news, the Company has agreed to grant incentive 1,500,000 stock options to directors and employees at $0.21 per share for a period of 2 years, subject to regulatory approval.
A new detailed graphic of the "Block B" magnetic and radiometric anomaly has been posted to our website at pacificbayminerals.com along with a property-wide map showing the location of all the anomaly areas that are being prospected on our claims in the vicinity of the Matoush deposit. Consolidated Pacific Bay Minerals Ltd. explores for uranium and precious metals, with major projects underway in Quebec and Argentina. Please visit our website for more information.
On behalf of the Board of Directors:
"GEORGE SANDERS"
___________________________________
CEO & Director,
Cons. Pacific Bay Minerals Ltd.
New Pacific Bay Location Map can be found at https://www.pacificbayminerals.com/projects/otish-mountains.html
New Block B Map can be found at https://www.pacificbayminerals.com/projects/otish-mountains-200707.html
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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.