James Bay Resources Starts 5,000 Metre Drilling Program on Ring of Fire Property

James Bay Resources Limited announce that the Company has begun drilling on its McFauld’s Lake ‘Ring of Fire’ property in northern Ontario.

The initial 5,000 metre diamond drill program is focused primarily on the Company’s C and C-Extension Blocks. Drill targets have been chosen for testing based on highly-accurate VTEM airborne surveys which indicates a large 5 km long electromagnetic conductor on the south-eastern flank of a domal magnetic feature. “We are going to test these conductors at depths of 100 to 200 metres,” said Mr. Brad Leonard, P.Geo, Exploration Manager. “Drilling will target the entire 5 km electromagnetic (EM) trend, including the strongest conductive portions. In addition, other strong EM conductors in close proximity to the 5 km trend will also be drill tested.”

“James Bay has now advanced its exploration efforts to the drilling stage and we anticipate reporting initial core assays over the coming weeks,” said Mr. Stephen Shefsky, President & CEO.

James Bay Resources has granted a total of 1,205,000 stock options to Directors, Officers and Consultants with an exercise price of $0.75. All of the options have been granted under the previously approved stock option plan, have a term of five years, and are subject to a vesting period of two (2) years from the date of the grant.

James Bay is a well-financed Canadian mineral exploration company with 19,700 hectares of 95 royalty-free, 100-percent owned claims in the McFauld’s Lake area of the James Bay Lowlands. The Property is located roughly 30 kilometres west-southwest of the “Eagle One” Ni-Cu-PGE discovery made by Noront along the “Ring of Fire”, an emerging and potentially world-class base metal camp. The Company currently has 27,872,850 shares outstanding and trades on the TSX Venture Exchange under the symbol “JBR”. Please visit the James Bay website at www.jamesbayresources.com.