Mr. David Brett reports

PACIFIC BAY RECEIVES POSITIVE NEW GEOLOGICAL REPORT ON WEAVER GOLD PROPERTY IN BC

Pacific Bay Minerals Ltd. is in receipt of a new geological report on the Weaver gold property in southwestern British Columbia by Kristian Whitehead, PGeo, who has significant expertise in the area. Historical drilling at Weaver gold has returned impressive high-grade gold results in quartz carbonate veins that have potential for extension. As previously reported, Weaver gold is under an option agreement with Aurwest Resources Corp., whereby Aurwest can earn a 50-per-cent interest in the company's 100-per-cent-owned Weaver gold project over three years. Pacific Bay will be the operator of the Weaver gold project.

Summary findings of the Whitehead Weaver gold report

The Weaver gold property, located in southwestern British Columbia approximately 13 kilometres north of Highway 7 near Harrison Mills, has demonstrated notable gold and silver mineralization through historical drilling. Past campaigns have returned impressive intercepts, such as 16.6 grams per tonne (g/t) gold and 91.9 g/t silver over 1.52 metres, and 11.8 g/t gold and 44.6 g/t silver over 2.13 metres, from the 1975 program, along with 8.61 g/t gold and 46.2 g/t silver over 3.05 metres, and 2.06 g/t gold and 21.4 g/t silver over 6.10 metres, from 1996 drilling. More recent 2018 results included 2.49 g/t gold and 7.52 g/t silver over 1.53 metres, underscoring the property's consistent mineralized intervals.

The property is situated in the East Harrison Lake belt within the southern Coast belt, where gold-silver mineralization occurs primarily in orogenic-style quartz-carbonate veins with sulphides, controlled by regional shear zones and subsidiary faults trending approximately 070 degrees. Hosted in Lower to Middle Jurassic andesitic to rhyolitic volcanics and pyroclastics of the Harrison Lake formation, the setting features complex structural deformation and hydrothermal alteration that has produced locally high-grade deposits.

This environment, combined with analogies to nearby occurrences and the confirmation of mineralization continuity from past work, indicates good potential for discovering extensions along strike, downdip and in parallel structures. The independent geological report by Mr. Whitehead recommends a phased exploration approach to advance the property. Phase 1 focuses on detailed mapping and prospecting. Phase 2 involves a 3-D induced polarization survey to identify subsurface anomalies. If results are favourable, phase 3 entails 1,000 metres of diamond drilling.

About Pacific Bay Minerals Ltd.

Pacific Bay's flagship, 100-per-cent-owned Haskins-Reed critical minerals project in northwestern British Columbia is one of the leading exploration projects in the Cassiar region. Located next to Cassiar Gold Corp. on Highway 37, Haskins-Reed hosts tungsten, copper, bismuth, silver, lead and zinc in multiple high-grade polymetallic zones, over 125 drill holes, underground workings and significant exploration potential. The company also owns 100 per cent of the Weaver gold project in Southern B.C., not under an option/JV (joint venture) with Aurwest.

The technical disclosures in this news release were reviewed and approved by independent geological consultant David Bridge, PGeo, a qualified person, as defined by National Instrument 43-101. Mr. Bridge is not an officer, director or employee of the company.

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