VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 22, 2010) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM)(the “Company”) reports that Strateco Resources Inc. (“Strateco”) has commenced an 844 line kilometre High Resolution Aeromagnetic & XDF/VLF – EM Survey over Pacific Bay’s uranium claims under option to Strateco in the Otish Mountains, Quebec. The ultra-sensitive survey by contractor Terraquest is designed to identify Matoush style structures favourable for uranium mineralization with high precision so that high quality drill targets can be outlined.
Strateco has an option to acquire up to 60% interest in a large package of Pacific Bay mineral claims adjoining Strateco’s claim that hosts the Matoush Uranium ore body. Strateco’s 2010 work commitment is $750,000, which must include 2,500 meters of drilling. Strateco recently announced an $8.9 million 2010 exploration program for its Matoush area properties. Some 60,000 meters of drilling will explore existing targets on Strateco’s claims as well as possible new targets outlined on the Pacific Bay optioned claims.
As part of a previous case study, Strateco reports that Terraquest successfully precisely defined the uranium bearing Matoush fault system that hosts the Matoush uranium deposit and identified priority targets on Pacific Bay’s claims. Strateco and Pacific Bay geophysical consultants believe that the Terraquest technology could be highly effective in identifying new target zones.
“The remarkable expansion of Strateco’s exploration program in the Matoush Camp is very significant”, said David Brett, CEO of Pacific Bay. “Strateco’s strong commitment to making uranium discoveries on Pacific Bay’s claims is particularly encouraging.”
The technical information contained in this news release has been reviewed, edited and approved by Trent Pezzot, P.Geo., a consultant to the Company and a Qualified Person under policy NI43-101.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.