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Additional 10 Claims Added to Pacific Bay's Mont-Laurier, Québec Uranium Property Consolidated Pacific Bay Minerals Ltd. — TSX Venture — CBP
Vancouver, British Columbia, May 23, 2006 -- Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX Venture: CBP, the "Company") is pleased to announce that an additional 10 claims have been granted to PacBay by the Québec government in the Mont-Laurier uranium district. This brings the total of PacBay's holdings to over 63 km2 (24 mi2) of 100% owned mineral claims along a trend of extensive uranium mineralization in the Mont Laurier area. These 10 claims are strategically important and tie together all of PacBay's claims on the east and north sides of the trend. They lie immediately adjacent to the historic Andy Lake, Adrian Pond, Road, Cliff and Lac Marion uranium showings identified by Canadian Johns Manville Company Ltd. and several other companies during the mid to late 70's. PacBay geologists are currently undertaking ground scintillometer surveys, geochemical sampling and geological mapping initially on a reconnaissance basis over this large claim block in order to define potential target zones for trenching and drilling later in the field season. Nova Uranium Corporation is currently drilling less than 4 Km south of PacBay's claim block on the original Renard Creek (Nova) showing where Canadian Johns Manville outlined significant uranium oxide mineralization in the 1970's in Precambrian metamorphosed intrusive and sedimentary rocks of the Grenville Supergroup which continue onto PacBay's claims. Strateco Resources, Inc. is also actively exploring the south-western portion of the Mont-Laurier trend.
George Sanders, President of PacBay and a Qualified Person under National Instrument 43-101 for the purposes of this News Release, states "We are pleased that these 10 key claims, requested quite some time ago, have been granted to us. Québec's high ranking in the recent Fraser Institute Annual Survey confirms our belief that this Canadian province is one of the best destinations for our exploration dollars. PacBay's portfolio of exploration properties in Canada and Argentina, which also ranks relatively high in the Fraser Institute Annual Survey, provides an excellent balance of exploration risk in two of the most favourable areas in the world for the discovery of uranium and precious metals."
Pacific Bay Minerals has significant land holdings in uranium and precious metals exploration plays in North and South America. The company is actively exploring for uranium in the Mont-Laurier and Otish Mountians regions of Québec, the Cerro Solo Basin region of the Argentine Patagonia and in the Paganzo Basin of northern Argentina at the Cueva del Chacho property. PacBay is also exploring for gold and silver on the Cerro Negro property in the Famatina District of northern Argentina. Please visit our website pacificbayminerals.com for more information on all our exploration properties.
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
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