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New Claims for Pacific Bay Along Matoush Uranium Trend, Quebec Consolidated Pacific Bay Minerals Ltd. — TSX Venture — CBP
Vancouver, British Columbia, October 3, 2006 -- Mr. George Sanders, President, Consolidated Pacific Bay Minerals Ltd. (TSX Venture: CBP, the "Company") is pleased to report that another 77 claims have been officially granted in the Otish Mountains, Québec, in two areas where a recent helicopter-borne geophysical survey was carried out in cooperation with Strateco Resources, Inc. The northernmost claim block contains a total count radiometric anomaly that lines up with the emerging "Matoush Corridor", a NE trend of magnetic and total count radiometric anomalies extending both northeast and southwest from Strateco's Matoush high grade uranium discovery (see PacBay's September 19, 2006 News Release).
The granting of these new claims increases PacBay's land position to 142 claims in the western portion of the Otish Basin, representing over 53 square kilometers (20 square miles). The Otish Basin is geologically analogous to the Athabasca Basin in northern Saskatchewan, and the Matoush structure is suggestive of a geological environment similar to those that control the emplacement of the rich uranium deposits in the Athabasca Basin.
George Sanders, P.Geo, President, and a Qualified Person under National Instrument 43-101 for the purposes of this News Release, states, "With the granting of these new claims, PacBay has assembled a strategically important land package in this rapidly emerging high-grade uranium area. We have staked or acquired a significant percentage of the trace of the NE trending "Matoush Corridor", and we have an excellent chance of discovering high-grade uranium mineralization in one or more fault structures which cross our claims. We are analyzing the airborne geophysical data to determine the best follow-up method to define these narrow fault structures on the ground, and we are considering mobilizing a winter geophysical program to define drill targets. There are also significant total count radiometric anomalies in our western claims on the rim of the Otish Basin that we are currently analyzing, and which will also be tested in the next phase."
A graphic showing PacBay's new claims in relation to the emerging "Matoush Corridor" as defined by the total count radiometric data been posted to PacBay's website. Pacific Bay Minerals explores for uranium and precious metals in Québec and Argentina. Please visit our website at pacificbayminerals.com for more information on all our programs.
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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