PBM Pacific Bay Minerals Ltd

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX VENTURE:PBM)
(the "Company") reports that the Company has completed the sale to U3O8 Corp.
(TSX VENTURE:UWE) of its 100% interest in its BASA 1-3 mineral claims in Chubut
Province, Argentina for consideration of (i) 1.5 million shares of U3O8 Corp.
which are subject to a statutory hold period expiring August 28, 2012; (ii)
$100,000 in cash; and (iii) the Company retaining a 2% NSR which may be
purchased at any time by U3O8 Corp. for $3 million.  


Pacific Bay retains over 400sq km of claims in the Cerro Solo uranium region of
Chubut, including the 100% owned KM Regalo Property and the 90% optioned July
Property, where an exploration program is now underway. 


Pacific Bay Minerals Ltd. 

David H. Brett, MBA, President & CEO

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