Committee Bay and Matador Set Meeting Date to Approve Combination; $8 Million Exploration Program Underway in Western Australia.

VANCOUVER, British Columbia -- Committee Bay Resources Ltd. (TSX VENTURE:CBR) ("CBR") and Matador Exploration Inc. (TSX VENTURE:MXN) ("MXN") have scheduled their respective special shareholder meetings for November 18, 2005 to approve a business combination by way of a statutory plan of arrangement. In addition, drilling has now commenced as part of an $8 million exploration strategy to explore its Coolgardie Gold Project.

In accordance with their Letter Agreement (see July 12, 2005 news release), CBR proposes to acquire all of the issued securities of MXN by way of share exchange on the basis of 0.72 CBR common shares each 1.0 MXN share. Pursuant to the Letter Agreement, MXN issued a secured convertible debenture to CBR (see August 2, 2005 news release) to finance the acquisition by MXN of assets located in the Coolgardie Gold District of Western Australia (see MXN news releases of August 9 and 17, 2005).

NEAR TERM PRODUCTION CAPABILITY

MXN, together with Austminex Ltd (ASX:ATX), soon to be renamed Focus Minerals (ASX:FML), successfully acquired the Three Mile processing facility on August 8, 2005. This mill facility has the capacity to process 140,000oz per annum at an optimized head grade of approximately 3.5 g/t Au and is fully permitted. The mill is fully operational and currently on care and maintenance. Additionally, through its option with Austminex, the company has acquired the consolidated mineral rights to more than 210km2 of under-explored tenements in one of the world's most significant gold producing regions. Exploration will be conducted through the Redemption Joint Venture ("RJV"), with Matador as operator. The RJV (named after a major regional fault structure which hosts some of Coolgardie's best known gold deposits) will control the largest amalgamation of tenement holdings in Western Australia's Eastern Goldfields since the Kalgoorlie "Super Pit" was developed in the 1980s.

In addition to its outstanding exploration potential, the project has an existing Indicated Resource of 315,720 contained ounces (5.32 million tonnes at an average grade of 1.85 g/t Au) and an Inferred Resource of 1,080,825 contained ounces (3.7 million tonnes at an average grade of 2.45 g/t Au). For more information, please refer to MXN's announcement of the resource estimate on June 22, 2005, as well as the detailed 43-101 compliant technical report that was filed by MXN on SEDAR on July 18, 2005.

$8,000,000 EXPLORATION PROGRAM UNDERWAY

As operator of the RJV, MXN has undertaken a comprehensive data compilation for the Redemption Mineralized Corridor where gold occurs in a variety of structural settings including laminated quartz reefs and breccias sited in brittle-ductile shear zones at lithological contacts and interflow sediments and within north-south trending, fractured, albitized diorites hosted within deformed ultramafic rocks.

At a regional scale, exploration will be driven by a re-interpretation and assessment of stratigraphy, structure and alteration, allowing for a better three dimensional understanding of the district, while at a prospect scale, detailed interpretation in and around existing mineralization has already identified structures and ore positions that have potential to provide ounces for future surface and underground production.

As Phase 1 of its $2.7 million first year program, the RJV has utilized the existing database to design and implement a 3600m, 10 hole underground drill program to test beneath the down-plunge projection of the Countess-Tindals-Cyanide lode systems, which lie within the Redemption Mineralized Corridor. The drill program is designed as a large step out to test the depth extent 200 to 300 m beneath current drill intersections. Data compilation and drill targeting on other high priority areas are ongoing while surface reverse circulation and diamond core drilling are planned to commence during October.

This business combination of Committee Bay and Matador will create a company poised to take advantage of the near term production capability of the Coolgardie Project while advancing its prospects in Northern Canada and Western Australia through exploration of two greenstone belts with world class gold potential.

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

Committee Bay Resources Ltd. (TSX VENTURE:CBR)

Matador Exploration Inc. (TSX VENTURE:MXN)