Aussie high-grade buoys Committee Bay (December 12, 2007)

Vancouver – Redemption joint venture partners Committee Bay Resources (CBR-V, CBYRF-O) and Australian-listed Focus Minerals (FML-A) turned in significant gold intercepts from the Perseverance project in Western Australia’s Coolgardie greenstone belt.

Grade control drilling on the advanced-stage project delivered intercepts of up to 9.1 metres (from 91.5 metres downhole depth) grading 87.3 grams gold per tonne in hole PEGC0004 – including a 1.3-metre section of 273 grams gold.

All of the first 20 holes in the latest underground drill program cut mineralization confirming known widths and intersecting some wider sections of gold-hosting structure.

Drilling also verified a new gold-mineralized quartz-sulphide zone in the footwall – about 10 metres below the main lode. Although the new zone is narrower than and not as continuous as the main zone, it has potential for some high-grade portions. Significant gold mineralization was also encountered in a deeper dioritic unit offering additional prospective tonnage.

Committee Bay sees results from the southern end of main mineralized zone coming in higher-grade than previous drilling. “This could be a reflection of either the “nuggetty” nature of the ore body, or the existing exploration drill holes do not truly reflect the grade of the quartz-sulphide lode at the southern extremities,” says company president and CEO John Williamson.

The JV partners plan production from the Perseverance orebody in early 2008, following a bankable feasibility study nearing completion. Results from its latest drilling are not being incorporated into the report.

Perseverance is the first planned mine for the JV partners in the Tindals mining centre with several others deposits being evaluated for development. The JV also owns the fully permitted Three Mile Hill mill – a 1.2-million-tonne-per-year processing facility on which a refurbishment program is underway.

The 210-sq. km Redemption joint venture land package hosts measured and indicated resources of 9.1 million tonnes grading about 2 grams gold for about 595,000 contained oz. gold in several deposits. A further 11.5 million inferred tonnes at 2.8 grams gold (1.04 million contained oz. gold) has also been reviewed on the tenements.

The JV also has an agreement in place to process up to 480,000 tonnes of ore annually through Higginsville Mining’s nearby Greenfields Mill at a toll fee of A$22 per tonne.

Shares of Committee Bay rallied 23% on the high-grade gold news, gaining 7.5 to close at 40 in December 12th trading. The stock has a 52-week trading range of 27-73.

The company is also active on its large Committee Bay greenstone belt project in Nunavut where it has more than 2,500-sq. km of landholdings along the 300-km long gold belt. Its Three Bluffs project hosts an inferred resource of 1.9 million tonnes at 8 grams gold for about 487,000 contained oz. gold.