Pacific Bay Minerals Ltd V.PBM

Alternate Symbol(s): PBMFF

Metals & Mining Industrial Metals & Minerals

Pacific Bay Minerals Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration, and development of mining projects. It is focused on its 100% owned properties located in British Columbia: Sphinx Mountain Rare Earth Project near Dease Lake in northern BC and the Haskins Reed Polymetalic Project near Cassiar BC. The Sphinx Mountain Rare Earth Property is located in Northern British Columbia by staking. The property, approximately 50 kilometers (km) from Dease Lake, is accessible and suitable for work during the summer and fall seasons. The Haskins-Reed Property is a zinc, silver, lead, copper and bismuth prospect with multiple mineralized zones. The Haskins-Reed property is located in the Cassiar Mining District of North Central British Columbia. The property, situated just off Highway 37, on Mount Haskins and Mount Reed, hosts numerous skarn, replacement and porphyry-style mineral occurrences.

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Pacific Bay Minerals Ltd

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Post by skip_rickon Mar 04, 2010 9:37am

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Post# 16841938

Partner UrAmerica Outlines Drill Targets on Cerro

Pacific Bay Minerals Ltd.: Partner UrAmerica Outlines Drill Targets on Cerro Solo Area Uranium Claims

VANCOUVER, BRITISH COLUMBIA, Mar 04, 2010 (MARKETWIRE via COMTEX News Network) --

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE: PBM) (the "Company") reports that partner UrAmerica Ltd has outlined drill targets on Pacific Bay's uranium Cerro Solo area claims in Chubut Province, Argentina . UrAmerica is in the first year of an option agreement to earn a 60% interest in the Property by incurring USD$1,200,000 in exploration expenditures and paying Pacific Bay USD$140,000 over 4 years.

Nine drill locations have been outlined to target potential paleo-channels favourable for uranium mineralization similar to the Cerro Solo deposit of the region. Field observations by UrAmerica indicate that the favourable "Los Adobes" formation may lie below the rocks of the Chubut Group which outcrop on the Property. UrAmerica is scheduled to commence a 20,000 meter drill program in October 2010 on its various claims in the district, including some drilling on the Pacific Bay/UrAmerica property.

About UrAmerica Ltd. UrAmerica Ltd is a private UK-based exploration company with offices in Buenos Aires, focused on uranium discovery in Argentina. UrAmerica's seasoned team includes: Omar Adra, CEO of UrAmerica, Neil Herbert, Chairman, and Ian Stalker, Director, former CFO and CEO of Uramin. Uramin was sold in 2007 to Areva of France for $2.5 billion.

About Pacific Bay. Led by mining veterans Guilford and David Brett, Pacific Bay has a diverse portfolio of uranium properties, including extensive holdings in Quebec's Otish Mountains Uranium region and the San Jorge uranium basin in Chubut Province, Argentina. The Company also has an office in Namibia, Africa, seeking uranium opportunities. Pacific Bay's strategy is to explore its properties mainly through strong partnerships, such as Strateco Resources Inc. (Quebec) and UrAmerica (Argentina).

The technical information contained in this news release has been reviewed and approved by Ernie Black, P.Eng., a consultant to the Company and a Qualified Person under policy NI43-101.

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