NIB Niblack Mineral Development

Niblack Mining Corp. ("Niblack") (TSX VENTURE:NIB) today announced that
Niblack's shareholders have approved the proposed acquisition (the
"Arrangement") of all of Niblack's issued and outstanding securities by a
wholly-owned subsidiary of Committee Bay Resources Ltd. ("Committee Bay").
Pursuant to the Arrangement, each Niblack common share will be exchanged for one
Committee Bay common share and each Niblack option and warrant will be exchanged
for one option or warrant (as applicable) of Committee Bay with the same terms
and conditions. At the special meeting of Niblack shareholders held this
morning, the Arrangement was approved by over 99% of the votes cast by the
Niblack shareholders.


The Arrangement is being carried out by way of a statutory plan of arrangement
under Section 288 of the British Columbia Business Corporations Act. The closing
of the Arrangement remains subject to final court approval and an application
for final court approval is scheduled to be heard by the British Columbia
Supreme Court on September 26, 2008. Subject to court approval being obtained
and the other conditions to closing being satisfied or waived, the Arrangement
is expected to close on October 1, 2008.


All holders of Niblack's shares, warrants and options, as of August 18, 2008,
have the right to attend and to be heard at the final hearing of the Supreme
Court of British Columbia on September 26, 2008. The final hearing will be held
at approximately 9:45 am (Vancouver time) at 800 Smithe Street, Vancouver,
British Columbia.


Further details regarding the terms of the Arrangement are set out in Niblack's
management information circular dated August 18, 2008, which is available at
www.sedar.com.


About Committee Bay Resources Ltd.

Committee Bay Resources Ltd. is a well-funded Canadian based exploration
company. The company has a diverse portfolio of exploration projects in Canada,
Australia and South America, including the Committee Bay Greenstone Belt Project
in Nunavut, Canada which hosts the high grade Three Bluffs gold deposit. On May
22, 2008 the company announced a proposed merger with Niblack Mining Corp.
Committee Bay conducts year round exploration and development to advance its
projects and will continue to monitor the market for undervalued acquisition
opportunities. Committee Bay is a member of the Discovery Group of companies,
for more information on the group visit www.discoveryexp.com.


About Niblack Mining Corp.

Niblack Mining is a mineral exploration company focused on the exploration and
development of gold-rich base metal VMS properties in southeast Alaska. The
Company has three projects, including its high-profile gold-silver-copper-zinc
Niblack project on Prince of Wales Island. Since 1995, over C$30 million has
been spent advancing the Niblack project. To find out more about Niblack Mining
Corp (TSX VENTURE:NIB), visit our website at www.niblackmining.com.


ON BEHALF OF THE BOARD OF NIBLACK MINING CORP.

Paddy Nicol, MBA, President

The statements made in this Press Release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.

Grafico Azioni Niblack Mineral Development (TSXV:NIB)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Niblack Mineral Development (TSXV:NIB)
Storico
Da Giu 2023 a Giu 2024