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George Sanders, P.Geo. Appointed VP Operations and Exploration for Argentina
Vancouver, British Columbia, September 15, 2004 Mr. Guilford H. Brett, President, Consolidated Pacific Bay Minerals Ltd. (the Company) reports that Mr. George Sanders. P.Geo, currently a member of the Company's Board of Directors, has been appointed Vice President of Operations and Exploration for Argentina. Mr. Sanders is a consulting geologist who brings to the Company's board a wealth of experience gathered during his career. In particular, Mr. Sanders has significant experience in Argentina, where he lived and worked from 1993 to 2001, including 2 years as Canyon Resources' Argentina Exploration Manager from 1993 to 1995 and Consulting Geologist on the Manantial Espejo silver-gold project for Triton Mining from 1996 to 1998. He has worked extensively in the Patagonia region where Pacific Bay has various property interests.
Mr. Sanders' responsibility will be to administer the Argentina exploration program with immediate focus on further exploration of the Regalo properties in Chubut Province under option from IMA Exploration Inc.
"The Regalo gold geochemistry returned in silt samples taken during the first property visits last field season is highly encouraging having already defined two areas in which the dry silt samples run over a gram per ton gold in conjunction with large epithermal zones in calcareous sediments" said Mr.Sanders, who went on to describe the Regalo project as follows:
"The Regalo properties lie along a broad, regional NW lateral fault trend that has been a major crustal feature since at least the Mesozoic and which hosts IMA's Navidad discovery and several other recently discovered gold and silver prospects that are being actively explored. This NW trend is an important structural element in many of the known precious metals occurrences in Patagonia, and the added attraction of the anomalous Regalo gold geochemistry along this trend is its apparent association with calcareous sedimentary rocks.
Exploration in the region of the Regalo properties during the 1990's was not nearly as intense as it was in the region farther to the west, which resulted in the 3 million-ounce-plus gold equivalent Esquel discovery.
IMA Exploration Inc.'s discovery at Navidad has opened up this NW regional trend and shown it to have excellent exploration potential. Perhaps the most exciting element of this play is the fact that the occurrences of gold and silver do not seem to fit any of the traditional exploration models that were applied to this region of Patagonia in the past.
The subdued topography and limited outcrop on the Regalo properties coupled with the sheer size of the 200 km(2) claim blocks makes this area with its exciting gold geochemistry highly prospective for disseminated gold mineralization in host rocks that have not previously been given a close look in the Patagonia region."
In other news, the Company has granted incentive stock options to acquire 40,000 shares at $0.10 for two years, subject to regulatory approval.
On Behalf Of The Board Of Directors
Guilford H. Brett
President
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