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Stock Options Granted

Vancouver, British Columbia, May 3, 2006 - Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (the "Company") reports that the Company has agreed to grant incentive options to purchase 80,000 shares at $0.27 for a period of 1year, subject to regulatory approval.

On Behalf Of The Board Of Directors
George Sanders
President

For Further Information Call
In Canada: 1-800-670-6570
In the USA:1-800-665-5101
Local: 604-682-2421
E-Mail: ir@pacificbayminerals.com

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