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Correction
In a Press Release dated December 16, 2002, Guilford H. Brett, President, Consolidated Pacific Bay Minerals Ltd. Reported:
"...recent surface work with an excavator on the Switchback Zone approximately one kilometer north west of the Jewelry Box Zone, exposed a strong carbonate altered schist which assayed in the 2 to 3 gram Au/ton range, (.06 to .07 oz Au/t) over 20 feet. This work also resulted in the discovery of an entirely new style of gold occurrence on the property. The occurrence can best be described as blue gray sericite schist with quartz fragments. The new zone, discovered in the trench, assayed 14.2 grams/t or .45 oz/t Au over 2 meters, 6.25 feet (assayed by EcoTech Laboratories). The assay was encouraging, making this a priority target for trenching in the early spring during the Company's proposed trenching and drilling exploration program."
A clerical error by the Lab has been discovered that necessitates a correction of this statement. The 14.2 g/T Au assay was incorrectly attributed to a sample of, "blue gray sericite schist with quartz fragments".
As such this would have possibly represented an entirely new style of gold occurrence on the property.
This assay is actually yielded by a select sample of a vein segment from within the carbonate altered schists of Switchback Zone. This style of mineralization is typical to the property.
Composite chip samples across the width of the Switchback zone as currently exposed yield an average grade of 1.92 g/T Au over an average width of 6.2m.
These figures do not incorporate the select 14.2 g/T assay. The Switchback Zone is considered a priority target for trenching in the spring.
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.