Well-Funded Gold Exploration Company Focusing on Canada’s Under Explored Arctic

Committee Bay Resources Ltd. (CBR: TSXV) is a Canadian based exploration company with a controlling interest on the highly mineralized Committee Bay Greentstone Belt Project in Nunavut, Canada. With the recent sale of the company’s 50% interest in the Coolgardie Gold Project, Committee Bay is well-positioned to continue advancing the Greenstone Belt Project and is now able to capitalize on undervalued acquisition opportunities. The Company conducts year-round exploration in geopolitically safe countries and continues to expand its high grade gold resource base.

The overall exploration and development objectives for Committee Bay in 2008 will be to expand the existing gold resources while continuing to make exciting new discoveries at the Committee Bay Greenstone Belt of Nunavut, Canada.  Generative and early stage exploration programs have also been ongoing in the San Juan and La Rioja provinces of Argentina.  The Company will also continue to generate and evaluate new opportunities worldwide in order to maximize shareholder value.

Table 1 - Summary of 2008 Three Bluffs Resource Estimate*

INDICATED RESOURCE
Minimum Block Grade g/t Au	Tonnage	Grade g/t Au	Contained Ounces Au
4.0	1,238,000	8.93	355,600
3.0	1,756,000	7.32	413,300
2.0	2,451,000	5.94	468,400

INFERRED RESOURCE
Minimum Block Grade g/t Au	Tonnage	Grade g/t Au	Contained Ounces Au
4.0	551,000	8.98	159,200
3.0	813,000	7.23	189,100
2.0	1,344,000	5.34	230,900

* Tonnage figures rounded to nearest thousand, ounce figures rounded to nearest hundred

2004 Three Bluffs inferred resource of 488,000 ounces* (1.9 million tonnes at 8.0 g/t Au) reported at minimum block cut-off grade of 3.0 g/t Au