PACIFIC BAY MINERALS, LTD-More than its name, No Pac-Rim! Message Board

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Gold/Mining/Energy : PACIFIC BAY MINERALS, LTD-More than its name, No Pac-Rim!

PBM 3.760

+487.1%

Feb 2 3:59 PM EST

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To: mark warburton who wrote (2)	7/22/1997 7:19:00 AM
From: Chuca Marsh	of 176

Markau, speaking of PBM<<"..it would come back to LIFE...">> Compare and contrast with that EXR News Release late yesterday: ---------------------------------------------------------------------------- ----------- May 14, 1997 VSE -PBM FOR IMMEDIATE RELEASE PACIFIC BAY OPTIONS COMINCO FINLAYSON LAKE LAND PACKAGE, YUKON David H. Brett, President, is pleased to report that Pacific Bay Minerals Ltd. has signed an agreement with Cominco Ltd. regarding 518 claims in various blocks in the Finlayson Lake Massive Sulphide exploration camp in the south central Yukon. The claims cover numerous mineral showings and exploration targets that require follow-up work. Under the agreement, Pacific Bay can earn a 60% interest in the claims by incurring cumulative expenditures of $1,000,000 over four years. A firm commitment to spend $100,000 in the first year is required. Cominco is entitled to earn back 10% by funding and carrying out the work required to complete a final feasibility report. If this report is positive, Cominco is further required to arrange debt financing for Pacific Bay's share of capital costs required for production. Cominco would be the operator of the mine. The land package includes the Fret and Dot claim groups that are located in close proximity to Expatriate Resources' "ICE" property, where their 1996 drill hole #34 intersected 5.2% copper, 0.6 g/t gold, 25 g/t silver, and 0.06% cobalt over an approximate true width of 20.56 metres. Pacific Bay's agreement with Cominco mandates that a minimum of $100,000 be spent on the Fret claims. Pacific Bay believes that Cominco's earlier geophysical work on these properties may indicate a prospective trend within favourable geology underlying the claims. Work will commence immediately to identify drill targets. Pacific Bay plans summer exploration programs on these properties as well as its other Yukon claims. Pacific Bay's total land holdings in the Finlayson Lake area now exceed 1,000 claims. ---------------------------------------------------------------------------- ---------- Chucau+CU(later) P.S.- The Fret & Dot Claims are mentioned in last months( or is it 2 months ago) news release at CHJ as well as EXR!!! Nice PBM positioning! What's next a news release from ...Cominco again? The Shoshoni ( CHJ) map - site for all this is at( a picture is worth a thousand words!)( E-Gads-See Map at Top-Ice Property is EXR NEWS and PBM has 4 claims either abuting OR WITHIN the lite blue shading of EXR and PBM even has another 5 claims out-dipped down to left and lower on the map! That DOES put it in real perspective- focus in it's worth the effort!PBM is red on map): shoshoni.com

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