CBR Cabral Gold Inc

Committee Bay Resources Ltd. (TSX VENTURE:CBR)(FRANKFURT:C3M) ("Committee Bay"
or the "Company") announced today that its Board of Directors has adopted a
Shareholder Rights Plan (the "Rights Plan") designed to encourage the fair
treatment of shareholders in connection with any take-over offer for the
Company. The Rights Plan addresses the Company's concerns that existing Canadian
legislation does not allow sufficient time, if a take-over bid is made, for
either the Board of Directors or the shareholders to properly consider the bid,
or for the Board of Directors to seek alternatives to such a bid.


The Rights Plan is effective immediately and will provide the Board of Directors
and the shareholders more time to fully consider any unsolicited take-over bid
for the Company. It will also allow more time for the Board of Directors to
pursue, if appropriate, other alternatives to maximize shareholder value.
Shareholders will be asked to confirm the Rights Plan at a special meeting of
shareholders (the "Meeting") expected to be held in January 2009 and upon
receipt of such confirmation, the Rights Plan will have an initial term which
expires at the annual meeting of shareholders of the Company to be held in 2012
unless terminated earlier. The Rights Plan may be extended for an additional
three years after 2012 by resolution of shareholders at such meeting.


The rights issued under the Rights Plan become exercisable only when a person,
including any party related to it, acquires or announces its intention to
acquire 20% or more of the Company's outstanding common shares ("Common Shares")
without complying with the "Permitted Bid" provisions of the Rights Plan or
without approval of the Board of Directors. Should such an acquisition occur,
each right would, upon exercise, entitle a rightsholder, other than the
acquiring person and related persons, to purchase Common Shares at one-half of
the prevailing market price at the time.


Under the Rights Plan, a Permitted Bid is a bid made for all of the Common
Shares to all shareholders that is open for not less than 60 days. If, at the
end of the 60 days, at least 50% of the outstanding Common Shares, other than
those owned by the offeror and certain related parties, have been tendered to
the bid, the offeror may take up and pay for the Common Shares but must extend
the bid for a further 10 days to allow other shareholders to tender.


The Board of Directors is not aware of any pending or threatened take-over bids
for the Company that have been made or are contemplated.


The TSX Venture Exchange has conditionally accepted the Rights Plan. A copy of
the Rights Plan may be viewed at www.sedar.com. Additional details regarding the
Rights Plan will be provided in the Management Information Circular that will be
available for viewing on SEDAR and mailed to the shareholders of the Company
prior to the Meeting.


Committee Bay Resources Ltd. is part of the Discovery Group of companies. For
more information on the group visit www.discoveryexp.com.


On behalf of the Board Committee Bay Resources Ltd. 

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

This press release contains certain forward-looking statements, including,
without limitation, statements containing the words "believe", "may", "plan",
"will", "estimate", "continue", "anticipate", "intend", "expect" and other
similar expressions which constitute "forward-looking information" within the
meaning of applicable Canadian securities laws. Forward-looking statements
reflect the Company's current expectation and assumptions, and are subject to a
number of risks and uncertainties that could cause actual results to differ
materially from those anticipated. These forward-looking statements involve
risks and uncertainties including, but not limited to, changing market
conditions, the successful and timely completion of clinical studies, the
establishment of corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the regulatory
approval process and other risks detailed from time-to-time in the Company's
ongoing filings with the Canadian securities regulatory authorities which
filings can be found at www.sedar.com. Given these risks and uncertainties,
readers are cautioned not to place undue reliance on such forward-looking
statements. The Company undertakes no obligation to publicly update or revise
any forward-looking statements either as a result of new information, future
events or otherwise, except as required by applicable Canadian securities laws.

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