Pacific Bay Commences Drilling at Atlin Goldfields Property
Pacific Bay Commences Drilling at Atlin Goldfields Property
For Immediate Release. Vancouver, British Columbia, September 7, 2022. Mr. Antonio Vespa, President & CEO,
Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) reports that diamond drilling has
commenced at the Company’s Atlin Goldfields Project (“the Property”) near the town of Atlin in northern British
Columbia. The Company has contracted Diamondhead Drilling to complete a series of drill holes targeting the
Property’s high grade Yellowjacket shear/vein system. Pacific Bay holds an option to acquire up to a 100%
interest in the Property from Brixton Metals Corporation.
“We’re excited to kick off our first drill campaign at Atlin” said Pacific Bay CEO, Antonio Vespa. ”Our initial
objective is to confirm and expand the high grade gold mineralization at Yellowjacket.”
Pacific Bay drill at Yellowjacket zone, Atlin Goldfields Project, BC
The initial four drill holes proposed for the fall 2022 diamond drill program are aimed at confirming historical
results and expanding upon the Yellowjacket mineralization. The Yellowjacket Zone consists of orogenic gold
mineralization confined along the distinctive Pine Creek Fault system and is loca ted immediately above the
significant historic “Discovery” gold rush placer deposits.
The Yellowjacket occurrence includes individual, mineralized quartz veins, that are hosted within pre -existing
structures, as well as zones of mineralized vein arrays. Listwanitic altered ultramafic rocks are consistently
associated with the gold veins and vein arrays , with the gold most commonly hosted in gabbro, diabase, basalt
and andesite (brittle, crackle fractured rocks) in fault contact with ultramafic rocks. Free gold mineralization
occurs as scatted coarse native gold grain s associated with minor pyrite, chromite and mariposite (Morton, J .,
2022; Technical Report on the Atlin GoldFields Project: Sedar/Pacific Bay Minerals Inc.).
Yellowjacket has a BC Ministry of Mines Small Mine Permit (75,000 tonnes per year) in place with the operation
currently under care and maintenance.
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
Goldfields, 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 aspires to see its environmentally responsible exploration and development
activities bring meaningful benefits to the communities in which it operates.
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.
Pacific Bay Minerals Ltd.
Per/
Antonio Vespa, President and CEO
(604) 682-2421
IR Contact:
Helder Carvalho, Vice President, Corporate Development
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.
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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