VANCOUVER, BRITISH COLUMBIA -- (
Marketwire - April 27, 2012) - David H. Brett, President and CEO,
Pacific Bay Minerals Ltd. (TSX VENTURE: PBM) (the "Company") reports that the Company has completed the sale to
U3O8 Corp. (TSX VENTURE: UWE) of its 100% interest in its BASA 1-3 mineral claims in Chubut Province, Argentina for consideration of (i) 1.5 million shares of U3O8 Corp. which are subject to a statutory hold period expiring August 28, 2012; (ii) $100,000 in cash; and (iii) the Company retaining a 2% NSR which may be purchased at any time by U3O8 Corp. for $3 million.
Pacific Bay retains over 400sq km of claims in the Cerro Solo uranium region of Chubut, including the 100% owned KM Regalo Property and the 90% optioned July Property, where an exploration program is now underway.
Pacific Bay Minerals Ltd.
David H. Brett, MBA
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contact Information
Pacific Bay Minerals Ltd.
David H. Brett, MBA
President & CEO
604-682-2421
604-682-7576 (FAX)
www.pacificbayminerals.com
