Overview

Pacific Bay Minerals Ltd. (CVE:PBM) is a Canadian resource company listed on the TSX-Venture Exchange, with a focus on uranium discovery in Quebec, Canada and Chubut Province, Argentina.

What We Like about Pacific Bay Minerals:

• Large land position in Quebec’s Otish Mountains near Matoush Uranium Deposit
• Strategic Joint Venture with Strateco Resources, owner of the Matoush Deposit
• Newly discovered of Alfred Fault shows good potential for Matoush-style uranium deposit on Pacific Bay claims
• Large land position in Chubut Province, Argentina near Cerro Solo uranium deposit
• 2011 drilling planned at advanced stage Haskins-Reed Polymetalic property in BC

Chief Properties

Otish Mountains, Quebec, Canada

The Otish Mountain uranium property is located in a prolific uranium district in central Quebec. The focus of Pacific Bay’s staking and acquisition effort has been the area immediately surrounding the Matoush high-grade uranium deposit, discovered by Uranerz Exploration and Mining in the mid-1980′s. Deposits in this region have been compared to the well-known deposits located in the Athabasca Basin, Saskatchewan.

In 2009 Strateco Resources Inc., who had been exploring the Matouch deposit since 2005, released a 43-101 report outlining an indicated mineral resources of 7.46 M pounds U3O8 grading 0.78% U3O8 and inferred mineral resources of 12.78 M pounds U3O8 grading 0.50% U3O8. The Matoush structure has been traced 11 km to the south and 2.5 km to the north. In late October 2007, Pacific Bay Minerals Ltd. made a strategic decision to join forces with Strateco and option 60% of its 277 claims in the Matoush in order to consolidate the district into a single exploration block. Pacific Bay combined its database with Strateco’s to prospect potential mineralized trends which extend through both companies’ claims.

On November 9th, 2010, Pacific Bay announced that during the most recent drill campaign Strateco encountered a new fault structure on the Otish Mountain property. The newly discovered fault, named the Alfred Fault, is very similar to the Matouch Fault that hosts Strateco’s neighboring Matouch Uranium Deposit. This is an important discovery as it is the first time a Matouch-style fault has been found outside the Matouch Fault system.

A total of 1,989 meters of drilling has been carried out during the program, with an additional 2,500 meters to be completed during the 2010-2011 exploration season.

Cerro Solo and Regalo Properties, Chubut Province, Argentina

Pacific Bay has two properties in the Patagonia region of southern Argentina: Cerro Solo claims and Regalo property.

In 2009 Argentina’s National Commission of Atomic Energy (CNEA) undertook an aggressive drilling campaign designed to define the Cerro Solo resource prior to feasibility and environmental studies that are now underway. Press reports indicate an additional 10,000-metre program is now underway and that CNEA intends to have its feasibility and environmental studies completed prior to 2012. With Argentina’s new Attucha II nuclear power plant proceeding, the government has made it a priority to secure a reliable domestic supply of uranium.

Cerro Solo

The 100% owned Cerro Solo claims include three contiguous uranium exploration concessions totaling 300 square kilometers. The claims are located 20km east of the 15.4 million lb U3O8 Cerro Solo Deposit (0.47% U3O8). Pacific Bay plans to use part of the proceeds from recent financing for an exploration program during the first quarter of 2011.

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Regalo Property

Pacific Bay’s 100% owned Regalo uranium property is approximately 70 kilometers southwest of Pan American Silver’s world class Navidad silver-lead project. The Regalo property lies to the north-west of the Cerro Solo uranium deposit .

Located in the San Jorge Basin, the Regalo property hosts rocks of the Arroyo del Pajarito member of the Los Adobes formation which contains the most significant uranium deposits in the region. In 2005, the Company sampled 205 PPM uranium in a siltstone layer at the “Arroyo Pajaritos” showing on the property, which displays characteristics of a roll-front type uranium deposit. Beyond initial prospecting, this showing is unexplored. Results of a 2008 airborne magnetic and radiometric survey over the 382 square kilometre property outline multiple significant zones of elevated uranium concentration requiring ground follow-up.

Haskin-Reed Moly/Base Metal Property, Northern British Columbia, Canada

The 100% owned Haskins-Reed Property is approximately 8,218 hectares and is located 30 km east of Cassiar, BC. The property hosts numerous, separate mineralized zones which have been explored and defined to varying degrees by different companies, over the past 45 years. Pacific Bay believes that there is good potential to outline one or more economic polymetalic deposits on the Property as well as a good opportunity for new discoveries.

In October 2010, the Company announced the completion of a trenching program, which identified significant gold, silver, lead, and zinc mineralization. This new zone is up to 24 meters wide, over 300 meters long and open along strike. Assay results from the program are available in the Company’s press release dated, October 19, 2010.
Pacific Bay anticipates that the 2011 exploration program will include additional trenching, soil and rock sampling, ground geophysics, and drilling.

Management

David H. Brett, MBA, President & CEO – David has 25 years of public company management and financing experience, including being president of the Pacific Bay from 1995 to 1999, and Managing Director from 1985 to 1992. This is David’s second term as CEO of the Company (as of Dec 2007). As former CEO and President of TSE listed Cusac Gold Mines Ltd. from 2004-2008 (CFO 1996-2004), David financed and oversaw the restart of gold mining operations in 2006, the acquisition of a 1 million ounce gold resource, and negotiated the successful merger with another public mining company in April of 2008. David is also CEO and founder of Knexa Solutions Ltd., an innovative information technology company focused on web-based collaboration and intellectual property trading. David obtained a BA from the University of British Columbia and an MBA from Simon Fraser University.

Guilford H. Brett, BA & B.Ed, Chairman – Mr. Brett is best known for his work with Cusac Gold Mines Ltd., he founded Cusac in 1965 and can be described as one of the more successful prospector/mining-man/financier personalities in the Vancouver mining industry. Under Mr. Brett’s astute management Cusac went public on the VSE in 1966, graduated to NASDAQ in 1980 and was listed on the TSE in 1987. Cusac is one of the few Vancouver mining juniors to “hit for the cycle” by taking a gold property from grass-roots exploration to profitable, full scale gold production. Mr. Brett’s mining experience and knowledge covers a wide variety of mineral projects from large scale porphyry deposits to epithermal gold environments. Mr. Brett brings this background and wealth of experience to the Board as President of Pacific Bay Minerals Ltd.

Douglas Blanchflower, P. Geo., Director – Mr. Blanchflower brings a wealth of exploration experience to the Pacific Bay team. Prior to founding Minorex Consulting in 1982, Mr. Blanchflower worked for a number of major mining firms. As President of Minorex, Mr. Blanchflower implemented innumerable exploration programs from grass-roots to advanced-stage throughout North & South American and Asia. Mr. Blanchflower has particular expertise in property evaluation, 43-101 technical report preparation and resource calculation.

E. Trent Pezzot, P.Geo., Consultant – Mr. Pezzot is a geophysicist with significant expertise in the analysis and interpretation of geophysical data including uranium exploration. A great deal of Pacific Bay’s exploration efforts to date have involved airborne geophysical surveys both in Quebec and Argentina. Trent’s technical skill and expert insight has been invaluable to the company. Mr. Pezzot is a “Qualified Person” under NI 43-101. James G. Evaskevich, Director. Mr. Evaskevich has 28 years of experience in the resources sector, and is currently president and chief executive officer of Yangarra Resources Inv., A TSX Venture Exchange-listed oil and gas company, and is also president and CEO of Cascadia International Resources Inc., A TSX Venture-listed exploration company.

Joel Tarrida, Director – Mr. Tarrida is a real estate developer and builder in Washington, and formerly worked in the banking sector with CIBC and the Canadian Western Bank. Mr. Tarrida brings a wealth of financing and banking experience to board.

Leanora Brett, Corporate Secretary/CFO – Lea brings 15 years of public company experience to the team, managing corporate governance for Pacific Bay.