High Grades Extend Zone at Three Bluffs

DH 4TB025 intercepts 15.08 g/t Au over a length of 6.68.m
including 25.05g/t gold over 3.29m
DH 4TB026 intercepts 14.71 g/t Au over a length of 6.30m
including 20.78g/t gold over 3.85m
DH 4TB022 intercepts 21.53 g/t Au over a length of 2.24m

Committee Bay Resources Ltd. announces assay results from the next seven drill holes of the summer drill program at the Three Bluffs occurrence in Committee Bay located northeast of Baker Lake, Nunavut.  These results are part of a drill program designed to follow-up previous high-grade gold drill intersections at Three Bluffs (CBR press release - July 2, 2004 and August 2, 2004) and drill some of the advanced projects from the 45 targets identified from exploration. 

Three Bluffs Drilling:

Diamond drill holes 4TB020, 4TB022, 4TB023, 4TB024, 4T025 and 4T026 are further indication of high grade gold mineralization that is continuous near surface and extends at least 500m along strike below a diorite sill and remains open.  Diamond drill hole 4TB025, the western-most of the new holes, intersected a zone of mineralization grading 15.08 g/t Au over 6.68m including 25.05 g/t Au over 3.29m.    Further east along a shallow 20⁰ to 30⁰ plunge direction recent drill holes 04TB022 (21.53 g/t Au over 2.24m), 04TB023 (20.49 g/t Au over 2.08m) and 04TB026 (14.71 g/t Au over 6.30m including 20.78g/t gold over 3.85m) add to the size of this high grade zone.  At 160m below surface the eastern most drill hole 04TB024 has intersected two mineralized zones (8.85 g/t Au over 1.44m and 7.62 g/t Au over 1.74m) below the diorite sill.

Drilling at Three Bluffs is continuing to define the high grade mineralized trend to the west.  Drill holes 4TB032, 4TB033 and 4T034 are planned to extend the mineralization west to previous drilling.  Another series of holes are planned to evaluate a new geochemical anomaly has been defined west of the Three Bluffs outcrops and all previous drilling.  In addition a deep hole 4TB031 has been designed to intersect the mineralization at 300m below surface.  This is 150m deeper than previous drilling at Three Bluffs.

* true width has not been determined            

Four Hills

The Four Hills area contains a series of iron formations that are tightly folded with shallow north dipping limbs and fold axes.  In this five km by three km area it was decided that drilling would test a high-grade surface exposure and a blind EM (electromagnetic) geophysical target.  Drilling of the high grade exposure was conducted in a fence of four holes to obtain the maximum amount of geological information and enable testing of multiple limbs of mineralized iron formation.  The drilling intersected a 4 to 7 m wide iron formation that has a strike length in excess of 200m.  The better intersections include 3.77 g/t Au over 5.94 m and 1.85 g/t au over 1.22m. 

Three drill holes were designed to test a blind EM target to the north of known surface exposures and several stacked panels of folded iron formation.  These holes intersected two discrete iron formations that graded 1.8 g/t Au over 1.5m and 1.65 g/t Au over 0.65m.  Although no further drilling is anticipated at these targets there are a number of targets with high grade surface samples and strong EM anomalies in the Four Hills area that require additional drilling.

Committee Bay Resources Ltd maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Dean McDonald, P.Geo. Ph.D., Vice President of the company, who is the Qualified Person as defined by NI 43-101.  All samples are assayed at TSL Laboratories Saskatoon on a 50 gram fire assay using standard sample preparation and fire assay procedures with a gravimetric finish.  All samples with visible gold or assaying over 20 g/t Au are re-assayed with a standard metallics procedure.  Laboratory performance is monitored by inserting standards and coarse blacks into the sample stream.  Check assays are being prepared by ALS Chemex in Vancouver. 

Committee Bay Resources holds greater than 2.8 million acres of prospective ground in the eastern arctic.  In addition to the $C7.1 million to be spent with joint venture partner Gold Fields Limited on the Committee Bay project another $C2.0 million will be spent on diamond and gold exploration on nearby projects this year.  Gold Fields Limited, through a subsidiary, is funding all gold exploration on the Committee Bay Project as part of its option to earn a 55 % interest in the property by spending Can$7.5 million over the next 4 years. Committee Bay Resources Ltd. is the operator. 

On behalf of the Board
COMMITTEE BAY RESOURCES LTD
/s/ "John Williamson"
P.Geol., President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

•   Three Bluffs - Entire Area

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