coal news releaseMay 30, 2008 TSX-V Trading symbol: MBV
U.S. Trading symbol: MLVF.PK
Frankfurt Trading symbol: M4K
MILL BAY SECURES COAL LEASE APPLICATIONS TOTALLING 91,054 ACRES NOTHWEST OF HUDSON BAY, SASKATCHEWAN
MillBay Ventures Inc. (“Mill Bay” or the “Company”) announces that it hassecured coal lease applications encompassing approximately 91,054 acreswest of Hudson Bay, Saskatchewan. The granting of the coal permits isat the discretion of the Saskatchewan Government based on the priorityof applications, and at this time Mill Bay cannot provide any assurancethat the coal permits applied for will be granted. In the event thatthe applications are successful, the Companywill pay $12,000 and transfer 80,000 common shares from its treasury asa finder's fee. The transactions will require Regulatory Approval.
TheCompany is encouraged due to recent coal discoveries in the area andthe coal may cover a large region as Mike Magrum, PEng reported inGoldsource Mines Inc.’s April 28, 2008 news release, "Coal structuresof the Creataceous age are generally stratigraphic and can encompassseveral thousand square kilometres."
Arecent discovery in the area by Goldsource Mines Inc., asreported by Mr. J. Scott Drever in their press release titled“Goldsource Confirms Saskatechewan Coal Discovery Analytical Resultsand Coal Rankings Announced” dated May 5, 2008 released the followinginformation: “Goldsource MinesInc. (the "Company") announces the results for the 47 coal samplessubmitted from the Saskatchewan coal intercepts for two core holesrepresenting 26 metres and 32.5 metres respectively of coal seam,including 22.6 metres of continuous coal in each hole. On the basis ofproximate analyses, most of the coal from the two intercepts is ranked,in accordance with standard ASTM-D388, as High Volatile Bituminous Cand Sub-Bituminous A. The analyses and rankings confirm the "visualcharacteristics" reported in the Company's news release dated April 28, 2008."
In the event the applications are successful, Mill Bay plans to diligently explore the acreage.
Mill Bay has several gold properties that are currently being explored, farmed out or joint ventured. See the website for details (www.millbayventures.com).
ON BEHALF OF THE BOARD
“W.C. Glasier”
William Glasier, President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.