Pacific Bay Minerals Provides Corporate Update and Announces Plans for the Remainder of 2021
Pacific Bay Minerals Provides Corporate Update and Announces
Plans for the Remainder of 2021
For Immediate Release. Vancouver, British Columbia, May 27, 2021. David H. Brett, President and CEO, Pacific
Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) is pleased to provide an update on the
Company’s exploration strategy and program for its 100% owned Wheaton Creek Gold and Haskins-Reed
polymetallic properties.
Wheaton Creek:
The recommended exploration includes:
Site visit by the VP Exploration & VP Operations
Airborne magnetic geophysics survey
Geochemical soil survey
Diamond drilling is expected to commence in June following an initial reconnaissance by Pacific Bay staff.
From Pacific Bay Minerals’ VP Exploration, Sebastien Ah Fat, P.Geo., “Wheaton Creek is a fairly underexplored
prospect. We’re giving it a fresh look and applying a new understanding of the geology in the area as part of our
exploration strategy. It is once again an exciting property for the Company and we look forward to the results of
our exploration campaign later this summer.”
Wheaton Creek Highlights:
3,019 hectares of mineral tenures 100% owned by the Company
1986 drillhole 86-01 intercepted 5.38 grams per tonne of gold over 3.05 metres with visible gold
5-year multi-year area based (MYAB) permit in good standing
Notice of work (NOW) application approved
Haskins-Reed:
The Haskins-Reed Polymetallic Property remains a project of merit for the Company. Work is ongoing by the
management team to compile data from the historical work conducted (including 200+ drill holes into multiple
mineralized zones) in order to identify additional opportunities for shareholder value creation including
additional exploration/development and/or joint-venture agreement.
Haskins-Reed Highlights:
3,930 hectares of mineral tenures 100% owned by Pacific Bay Minerals
High-grade carbonate replacement deposit similar to Coeur’s Silvertip mine.
2011 high grade intercept of 102.59 grams per tonne of silver over 13.95 metres
Adjacent to Cassiar Gold’s:
o Taurus (1M oz gold inferred resource)
o Table Mountain (past producing and permitted high grade gold mine).
Note: all above reported intercepts are core lengths only as the true width of the structures has not yet been
determined.
Corporate Development:
In addition to work being done on current portfolio properties, the Company has been active in implementing its
strategic growth plan. Given strong precious metals markets, the management team continues to evaluate
accretive acquisitions of brownfield projects meeting specific target criteria including those where:
Early exploration has been completed
Established resource with the potential for expansion
Near term pathway to commercial production and sustained cashflow
Additional fundraising and corporate development activities are planned for the third/fourth quarter of 2021 to
meet the Company’s growth objectives.
The Company’s VP of Operations, Antonio Vespa, comments “Our vision is to eventually become a junior metals
producer. Our management team is doing great work in bringing forth projects to evaluate that meet our criteria
and could potentially help us drive shareholder value.”
Sebastien Ah Fat, P.Geo., a Qualified Person as defined by National Instrument 43-101, approved the technical
information in this release.
On Behalf of the Board of Directors
David Brett, CEO
(604) 682-2421
Helder Carvalho, Vice President, Corporate Development
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 use of
proceeds of the Financing. 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. 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.