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Geologist Reagan Glazier Appointed President, CEO & Director

Management Changes

Geologist Reagan Glazier Appointed President, CEO & Director

For Immediate Release. Vancouver, British Columbia, March 23, 2023. Mr. David Brett, President &

CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) reports that the

Company has appointed BC geologist Reagan Glazier to its board of directors and as President and

CEO of the Company. Former President & CEO David H. Brett will remain on the board as non -

executive chair. Coincident with the forgoing changes, Pacific Bay director Bill Smith has stepped down

from the board to focus on other priorities.

Mr. Glazier has extensive experience in mineral exploration and serves on the boards of a number of

publicly listed juniors. As Exploration Manager for Surge Copper Corp., Reagan oversaw major drilling

campaigns and other copper -gold exploration activities in northern BC. Reagan is a director of

Freegold Ventures Limited, a publicly listed Alaska gold explorer. Reagan is also a director of Canadian

explorer Starr Peak Mining Ltd. Reagan obtained a Bachelor of Science with a major in Geology from

the University of Calgary.

“We are excited that Reagan has decided to take the reigns at Pacific Bay,” said outgoing Pacific Bay

CEO David Brett. “We are confident that Reagan’s enthusiasm and experience will help the Company

advance its key projects, especially the Atlin Goldfields Property in northern BC.”

“The Company wishes to thank Bill Smith for his invalu able service on the board since 2020,” said

outgoing Pacific Bay CEO David Brett. “We are grateful to have enjoyed the benefit of Bill’s tremendous

expertise and insight and wish him well in all his endeavors.”

“I’m excited to be joining the Pacific Bay t eam and look forward to dedicating my energies to building

shareholder value,” said incoming Pacific Bay President & CEO Reagan Glazier. “There is great

potential in the Company’s current portfolio of BC properties as well as the opportunity to significant ly

grow our assets to become a leading metals explorer.”

Linda Dandy, P.Geo., Technical Advisor for the Company and a qualified person as defined by National

Instrument 43 -101, has reviewed and approved the technical information contained in this news

release.

About Pacific Bay Minerals Limited

Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition,

exploration, and development of mining projects. Pacific Bay Minerals is focused on advancing its

flagship project, Atlin G oldfields, located in Atlin, British Columbia, with a 56,569 -hectare package of

mineral tenures. The company also holds 100% interest in three mineral properties located in British

Columbia: Wheaton Creek Gold, Haskins Reed, and Weaver Gold. Pacific Bay a spires to see its

environmentally responsible exploration and development activities bring meaningful benefits to the

communities in which it operates.

Pacific Bay Minerals Ltd.

Per/

David Brett, President and CEO

[email protected]

(604) 682-2421

pacificbayminerals.com / Twitter / LinkedIn

This news release contains "forward‐looking statements" within the meaning of Canadian securities

legislation. Forward‐looking statements include, but are not limited to, statements with respect to: the

expected size and use of proceeds of the Offering, the timing for and expected completion of a

definitive option agreement, plans relating to exploration of the Property, the magnitude and quality of

the Property, spending commitments, and regulatory approvals (including approvals of the TSXV).

Such statements and information are based on numerous assumptions regarding present and future

business strategies and the environment in which Pacific Bay will operate in the future. Certain

important factors that could cause actual results, performances or achievements to differ materially

from those in the forward‐looking statements include, amongst others, the global economic climate,

dilution, share price volatility and competition, results of exploration activities and development of the

Property, risks associated with the completion of a definitive option agreement for the Property or that

any such agreement may be terminated or the option not exercised, risks relating to regulatory

approvals, and the ability of the Company to complete the Offering as contemplated or at all. Although

Pacific Bay has attempted to identify important factors that could cause actual results to differ materially

from those contained in forward‐looking statements, there may be other factors that cause results not to

be as anticipated, estimated or intended. There can be no assurance that such statements will prove to

be accurate, as actual results and future events could differ materially from those anticipated in such

statements. Accordingly, readers should not place undue reliance on forward‐looking statements.

Pacific Bay does not undertake to update any forward‐looking statements, except in accordance with

applicable securities laws.

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.