Pacific Bay’s Ax Silver Property Results Show Promise


VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 14, 2010) – David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM) (the “Company”) reports that the Company has received results from a combined geochemical and geological survey of its Ax Property in north central British Columbia. This 5,664-hectare property is located approximately 40 km north of Cassiar, 40 km southeast of Silvercorp’s Silvertip Deposit, and 10 km north of the Company’s Haskins-Reed polymetallic property.

The Phase I exploration program was designed to target stratabound, replacement-style silver-lead-zinc-copper mineralization, similar to the Silver Tip Deposit, and confirm historical results from the property. Twenty-four rock, 259 soil and 2 silt samples were collected during the geochemical sampling program.

Six kilometres of soil sampling grid lines were established over the central part of the property. The most significant soil geochemical anomaly occurs centrally within the grid area. Values within this anomaly range up to 0.6 g/t Ag, 1164 ppm Pb, 5497 ppm Zn and 738 ppm Cu. These soil geochemical results indicate the presence of linear geochemical anomalies that parallel the regional stratigraphy, possibly reflecting stratabound mineralization.

The following table summarized the most significant rock assays values:

Sample width
Sample type (m) Ag (g/t) Pb (%) Zn (%) Cu (%)
AX10-5 Chip 2.0 21.5 0.52 1.05 0.46
AX10-6 Chip 2.5 20.2 0.23 2.70 0.62
AX10-8 Chip 0.7 4.3 0.41 0.07 0.03
AX10-11 Chip 1.7 72.1 26.50 0.01 2.30
AX10-12 Chip 1.4 1.9 0.67 0.01 0.29
AX10-13 Float 1.8 1.85 0.01 7.35

The Company is currently interpreting the exploration results and planning a 2011 exploration program that should include both trenching and geophysical surveying.

Samples were collected by Pacific Bay Minerals personnel and submitted for analysis to ECO TECH LABORATORY LTD. in Kamloops, B.C.

Exploration work on the Ax project was supervised by Alex Walus, P.Geo., who is the Qualified Person, as defined by National Instrument 43-101, for the Ax exploration program and supervised the preparation of the technical information in this release.

The company plans to follow up with a reconnaissance exploration program in the 2011 field season.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.