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Stock Options Granted

For Immediate Release. Vancouver, British Columbia, July 04, 2008 - Mr. David H. Brett, President and CEO, Consolidated Pacific Bay Minerals Ltd. (TSX Venture: CBP, the "Company") reports that the board of directors of the Company has agreed to grant 1,550,000 two year incentive stock options at $0.12 per share to directors, employees and consultants.

Consolidated Pacific Bay Minerals Ltd.
Per,
David H. Brett
President & CEO

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