Committee Bay Commences Field Preparations in Eastern Arctic: Key Geologic Personnel Hired.

Business Editors

EDMONTON, Alberta--(BUSINESS WIRE)--March 8, 2004

Committee Bay Resources Ltd. (TSX VENTURE: CBR) is pleased to announce the commencement of field preparations for the Committee Bay Joint Venture Project with Gold Fields Exploration. Nuna Logistics and M & T Services Ltd have been contracted to mobilize equipment for the opening of an ice strip to accommodate a C-130 Hercules aircraft in mid-March. A combination of Hercules aircraft and overland transportation will provide the equipment and supplies for the $C7.1 million gold exploration program planned at the Committee Bay Joint Venture Project northeast of Baker Lake, Nunavut.

The spring program (April to May) consists of 4,600m of drilling in approximately 31 holes. The first phase of drilling is designed to follow-up the high-grade gold discovery at Three Bluffs that included 45.40 g/t Au over 6.9m and 27.41g/t Au over 9.44m (see CBR press release - September 2, 2003) and evaluate high-grade gold targets in close proximity to Three Bluffs, such as the Ledge, Hayes and Antler. Initially two drills will focus on the Three Bluffs area but in late April-early May one drill will move to the Four Hills-Cop area 80 km to the west. At the Four Hills-Cop occurrences a series of iron formations form a broad regional fold. Surface sampling at Four Hills has identified a number of high-grade zones (surface sampling of 48.07 g/t Au, 28.10 g/t Au and 14.37 g/t Au) that are coincident with magnetics and airborne EM (Electromagnetic) anomalies.

Committee Bay Resources has hired Brad Mercer, P.Geo. and Rob Carpenter PhD, P. Geo. as Senior Exploration Geologists. Brad Mercer was most recently Manager of the Boston Project at Hope Bay for Miramar Mining Corporation. Brad has over twenty years experience in exploration through to production geology in both precious and base metals. He has worked for a variety of major and junior exploration firms and consulting companies including U.S Borax & Chemical Corp., ACA Howe International, BRINEX, Northgate Exploration and Royal Oak Mines. Brad brings to Committee Bay a strong background in the execution of large, multi-disciplinary exploration programs in remote areas and a track record of recognizing superior exploration potential. Rob Carpenter was most recently the District Geologist for Kitikmeot Region with the Indian and Northern Affairs Canada based in Iqualuit, Nunavut. Rob has over twelve years experience and completed a Ph. D. thesis on gold mineralization at the Meliadine deposit in Nunavut. Rob has worked in exploration with Placer Dome, WMC and BHP Billiton and brings a strong technical background in iron formation gold exploration to the group.

The Committee Bay greenstone belt is 300 km long, 5 to 50 km wide and geologically comparable to the great Canadian gold producing greenstone belts of Red Lake, Timmins and Kirkland Lake. The Committee Bay Joint Venture holds greater than 1,480,000 acres of land with prospective geology in the Committee Bay area west of Melville Peninsula, Nunavut. Committee Bay Resources Ltd. recently announced the acquisition of 21 additional prospecting permits north of the Committee Bay project on the Boothia Peninsula and on Baffin Island totaling 1,350,185 acres.

On behalf of the Board

COMMITTEE BAY RESOURCES LTD

/s/"John Williamson"

P.Geol., President

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