VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 14, 2011) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM) (the “Company”) reports that the Company has commenced an exploration program on its 100% owned Regalo and Cerro Solo uranium properties located in Chubut Province, Argentina. The two properties comprise 682 square kilometers of mineral claims near the Argentine government-owned Cerro Solo uranium deposit which hosts 15.4 million lb. of uranium at an average grade of 0.47% U3O8.
At Regalo, where much of the property is underlain by the favourable Los Adobes Formation, a helicopter-supported geological team will evaluate 23 high-priority uranium anomalies outlined by a 2008 airborne radiometric and magnetics survey. At the Cerro Solo property crews will evaluate Alpha-Track radon anomalies outlined during 2008. The objective of this program is to define high-priority uranium mineralization for detailed exploratory drilling.
“We are looking forward to this phase of exploration in Chubut, where several companies are active,” said Pacific CEO David H. Brett. “With Argentina seeking a better domestic supply of uranium for its expanding nuclear program, Chubut’s San Jorge basin has become a key area for uranium exploration and resource development.”
The technical information in this news release was reviewed and approved by Doug Blanchflower, P.Geo., a Qualified Person as defined by National Instrument 43-101, and E. Trent Pezzot, also a Qualified Person as defined by National Instrument 43-101.
Pacific Bay Minerals Ltd.
David H. Brett, MBA, President & CEO
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