CBR Cabral Gold Inc

Committee Bay Resources Ltd. (TSX VENTURE:CBR)(FRANKFURT:C3M) ("Committee Bay")
and Indicator Minerals Inc. (TSX VENTURE:IME) ("Indicator Minerals") announced
today that they have acquired more than 58,000 acres of contiguous mineral
claims over an area of the Borden Project believed to host diamond-bearing
kimberlite bodies.


"Borden has emerged as one of Indicator's priority projects," comments Bruce
Counts, President and CEO of Indicator Minerals. "Our results suggest that there
are several diamond-bearing kimberlites on the property and the work that we are
conducting this year will put the project firmly on the path to discovery."


Kimberlite indicator minerals were tracked to the newly staked area over the
course of four years using proprietary sampling methods developed by Indicator
Minerals. In order to bring the project to a drill-ready stage, a detailed
helicopter-borne magnetic survey to identify drill targets has been initiated.
This survey will be followed up with prospecting and ground geophysical surveys.


The Borden Property is located on western Baffin Island on the Borden Peninsula,
approximately 90km southeast of the community of Arctic Bay in the Nunavut
Territory. Committee Bay currently has a 49% interest in the diamond rights of
the Borden Project and has 10% carried interest to production. Indicator
Minerals has a 51% interest in the diamond rights to the Borden Project and can
earn an additional 19% interest from Committee Bay by spending $6.00 per acre on
mineral claims in the first two years.


About Committee Bay Resources Ltd.

Committee Bay Resources Ltd. is a well-funded Canadian based exploration company
with a 100% interest in the highly mineralized Committee Bay Greenstone Belt
Project in Nunavut, Canada. This year, the Company received $30 million in
consideration for the sale of its interest in the Coolgardie Gold Project,
Western Australia. Committee Bay also recently announced a proposed merger with
Niblack Mining Corp. (See CBR press release dated May 22, 2008). Committee Bay
conducts year round exploration and development to advance its projects and will
continue to monitor the market for undervalued acquisition opportunities.


On behalf of the Board

Committee Bay Resources Ltd. 

John Williamson, P.Geol., President, CEO & Director

Certain disclosures in this release, including management's assessment of
Committee Bay's plans and projects, constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to
Committee Bay's operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Committee Bay expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.

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