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Mill Bay receives comfort letter on coal permits
Mill Bay Ventures Inc(C:MBV)
Shares Issued 48,999,698
Last Close7/3/2008 $0.10
Friday July 04 2008 - News Release
Mr. William Glasier reports
MILL BAY RECEIVES LETTER OF COMFORT ON COAL PERMITS
MillBay Ventures Inc. has received a priority comfort letter from theMinistry of Energy and Resources of Saskatchewan, with regard to two offour township applications made on May 22, 2008, on behalf of Mill Bayencompassing 18,432 hectares (45,545.47 acres) of a total of 36,864hectares (91,090.94 acres) of ground, west of Hudson Bay, Sask. A coalprospecting permit has been issued for the two townships confirmingthat Mill Bay's applications are first in line. The standard issuecomfort letters states: "The extent to which the land described inthese applications can be issued has not been investigated, andtherefore, this letter should not be construed as an indication thatany land will be issued, as full review is still to be completed."
Thecompany has been encouraged by the recent coal discovery in the area byGoldsource Mines Inc., which confirms the regional potential for coaldeposits and suggests a much larger coal system. As Mike Magrum, PEng,reported in Goldsource Mines Inc.'s April 28, 2008, news issued inStockwatch, "Coal structures of the Creataceous age are generallystratigraphic and can encompass several thousand square kilometres."
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.
© 2008 Canjex Publishing Ltd.
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