Niblack Mineral Development Inc.

Published : July 30th, 2008

Acquire Key Areas on Borden Project Airborne Magnetics Survey C

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Keywords :   Australia | Canada | Diamond | Gold | Market |
Committee Bay Resources Ltd News Release

July 30, 2008

Committee Bay and Indicator Minerals Acquire Key Areas on Borden Project
Airborne Magnetics Survey Commences

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.

- -

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Niblack Mineral Development Inc.

PRODUCER
CODE : NIB.V
ISIN : CA65365X1096
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Niblack Mineral is a zinc and gold producing company based in Canada.

Niblack Mineral holds various exploration projects in Australia and in Canada.

Its main assets in production are 3 BLUFFS in Canada and JAURDI HILLS in Australia and its main exploration properties are BORDEN and NIBLACK in Canada and JAURDI HILLS (BLACK CAT) in Australia.

Niblack Mineral is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 15.5 millions as of today (US$ 15.5 millions, € 11.6 millions).

Its stock quote reached its highest recent level on January 23, 2004 at CA$ 9.95, and its lowest recent point on December 23, 2011 at CA$ 0.16.

Niblack Mineral has 35 977 000 shares outstanding.

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Annual reports of Niblack Mineral Development Inc.
2008 Annual Report
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1/4/2012Announces Private Placement
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8/31/2011(Niblack)Joint Venture Partner Completes Requirments To Secure 60% In...
8/22/2011Joint Venture Receives Priority Permitting Approval From US ...
3/16/2011(Niblack)Larger Niblack Mine Estimates Released
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5/6/2008(Commitee Bay)Exploration Program Set for 2008 Committee Bay Greenstone Be...
4/30/2008(Coolgardie)Concludes Sale of Coolgardie Gold Project for Total Consider...
4/15/2008(Coolgardie)Focus Minerals Shareholders Approve Acquisition of Committee...
3/13/2008(Commitee Bay)Significant Resource Upgrade for Three Bluffs Deposit Commit...
2/19/2008(Coolgardie)Further Resource Upgrade For High-Grade Perseverance Gold De...
1/30/2008(Redemption)Enters Exclusivity Agreement Redemption Joint Venture Proje...
12/20/2007(Redemption)Perseverance Feasibility Study Yields Positive Result Base C...
12/12/2007Further High Grade Drill Results from Perseverance Deposit
10/31/2007(Commitee Bay)Final 2007 Three Bluffs Drilling Results: 9.29 g/t Au over 8...
10/9/2007Upgraded Resource Within the "Tindals Gold Mining Centre"
9/13/2007(3 Bluffs)Three Bluffs Drilling Continues to Expand Resource Potential
9/5/2007New High Grade Intersections Increase Size Potential of Inuk...
Corporate news of Niblack Mineral Development Inc.
1/19/2012Announces Acquisition by Heatherdale Resources Ltd.
12/16/2011Mails Information Circular
11/29/2011(Niblack)Joint Venture Announces 31% Increase To Total Mineral Resour...
10/26/2011(Niblack)Definitive Agreement Reached between Niblack and Heatherdale
7/28/2011(Niblack)Drilling Continues To Intersect & Expand Mineralization At N...
3/7/2011Announces 54% Increase to Mineral Resources
5/6/2010Amends Warrant Terms
7/30/2008Acquire Key Areas on Borden Project Airborne Magnetics Surve...
6/20/20082008 Committee Bay Exploration Program Initiated
2/6/2008 Will Be Exhibiting at the 2008 Phoenix Resource Investment ...
11/6/2007 Present at the 2007 Money Talks Conference
11/5/20072007 President'sLetter and Corporate Update
10/18/2007 to present at Toronto and New Orleans Investment Conference...
9/14/2007Drill Program Extended at Three Bluffs Deposit
9/6/2007Three Bluffs Drilling Delivers Outstanding Intercepts 19.44 ...
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