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Drilling to Commence in 10 Days

Vancouver, British Columbia, July 9, 2002. Guilford H. Brett President of Consolidated Pacific Bay Minerals Ltd. (the Company) wishes to announce that it will commence a diamond drill program on their 100% optioned Nugget Mountain gold property in the Cariboo. The property is located approximately 15 km south of Barkerville in the Cariboo Gold Camp, which is being actively explored by International Wayside Gold Mines Ltd. Recent mapping and sampling by Company employees of several strong surface showings on the property has been encouraging. The property is located within the same belt of rocks which host the gold deposits at Wells on Cow Mountain. A number of short NQ holes are planned for this first phase of the program. Mike Glover, B.Sc. will supervise the initial work.

On Behalf Of The Board Of Directors
Guilford H. Brett
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.