For Immediate Release. Vancouver, British Columbia, October 31, 2022. Mr. David Brett, President & CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) reports that Helder Carvalho has resigned as Vice President of Corporate Development.

Pacific Bay has completed two diamond holes at the Atlin Goldfields Project (“the Property”) near the town of Atlin in northern British Columbia. The drilling encountered mineralization within the Property’s high grade Yellowjacket shear/vein system and assays are pending. Pacific Bay holds an option to acquire up to a 100% interest in the Property from Brixton Metals Inc.

Mr. Antonio Vespa, President & CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) reports that diamond drilling has commenced at the Company’s Atlin Goldfields Project (“the Property”) near the town of Atlin in northern British Columbia.

Pacific Bay Minerals Ltd. (TSX Venture: PBM, “Pacific Bay” or the “Company”) is pleased to report that the Company has engaged Diamondhead Drilling Inc. for its upcoming drilling campaign expected to commence in September of 2022. Diamondhead has mobilized equipment to Yellowjacket Camp located within the Atlin Goldfields Property (the “Property”) and the Company’s management has been on site the last several weeks to initiate camp and exploration preparations.

Pacific Bay announces the closing of the definitive option agreement to acquire up to a 100% interest in the Atlin Goldfields Property in northern BC from Brixton, and related non-brokered private placement. Also, the Company announces changes to the executive management structure including the appointment of a new director.

Pacific Bay has, subject to the acceptance of the TSX Venture Exchange, amended the terms of the $500,000 non brokered private placement announced March 24, 2022, and as amended May 6th, 2022 in connection with the Company’s proposed acquisition of the Atlin Goldfields Property.

Pacific Bay, further to the Company’s March 24, 2022 Letter of Intent announcement, has signed a Definitive Agreement with Brixton Metals Corp. to acquire an option to purchase up to a 100% interest in the Atlin Goldfields Project located in Northwest British Columbia.

David H. Brett, President and CEO, Pacific Bay Minerals Ltd. reports that the common shares of Pacific Bay have been approved to resume trading at the opening on May 2, 2022.

Pacific Bay has signed a LOI with Brixton Metals Corp. to acquire an option to purchase up to a 100% interest in the Atlin Goldfields Project located in Northwest British Columbia.

News Release: Pacific Bay adds to Land Package at Wheaton Creek Gold Property: An additional 730 hectares increasing the land position to 3,750 hectares.

Pacific Bay Minerals Ltd. has arranged a non-brokered private placement issuing flow-through units to fund exploration in British Columbia.

Pacific Bay Minerals Ltd. has arranged a non-brokered private placement issuing flow-through units to fund exploration in British Columbia.

Pacific Bay has identified new drill targets and refined its drill program through analysis and interpretation of the airborne magnetic, VLF, and radiometric surveys carried out by Precision GeoSurveys Inc. (Precision) over the Wheaton Creek Gold Property in Northern British Columbia.

The airborne magnetic survey over the Company’s 100% owned Wheaton Creek Gold property in Northern British Columbia has successfully outlined distinctive magnetic features that will assist the drill targeting in it’s upcoming program.

WATCH: The Pacific Bay management team walks through their latest corporate presentation (July 2021). Find out why we're excited about the Wheaton Creek Gold project.

Pacific Bay Minerals has engaged Precision GeoSurveys Inc. to perform a detailed airborne magnetic survey over the Company’s 100% owned Wheaton Creek Gold property, located in Skeena Mining Division of Northern British Columbia.