Pacific Bay Minerals Expands its Portfolio with Rare Earth Elements Property in British Columbia

Pacific Bay Minerals, a Vancouver-based mineral exploration company, has announced the acquisition of the Sphinx Mountain Rare Earth Elements Project located in Northern British Columbia, about 50 kilometers northeast of Dease Lake. The property, previously under Pacific Bay's ownership, was subject to a 2011 work program that built upon high stream sediment sample data from the British Columbia Geology Survey (BCGS). This work confirmed and expanded upon earlier findings, revealing concentrations of Rare Earth Elements (REE) as high as 1.19% and 0.83% in stream sediment samples. Additional sampling in the vicinity reported significant values of 0.48% and 0.42% TREE over a distance of 3.5km, in an area that has seen little to no previous exploration.

Plans for the upcoming summer include a comprehensive exploration program focusing on mapping, prospecting, and geophysics to better understand the region's geology and to define potential drilling targets.