EDMONTON, Alberta � Committee Bay Resources Ltd. (CBR: TSX-V) (�Committee Bay�) and Indicator Minerals Inc (�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.
/s/�John Williamson�
John Williamson, P.Geol.
President, CEO & Director

For further information, please contact:
Derek Iwanaka
Manager, Investor Relations
Dial 604-646-4527 or toll-free 1-888-331-2269
**  WEBSITE:  http://www.committeebay.com/  **

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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.