Darnley Bay Resources Discovers Large Magneto-Telluric Anomaly

Darnley Bay Resources Limited (TSX VENTURE:DBL) (DBL) is pleased to announce the
discovery of a large magneto-telluric (MT) anomaly at its 100% owned Darnley Bay
Property, located near Paulatuk, Northwest Territories. Importantly, the new
anomaly is spatially coincident with previously-discovered gravity and magnetic
anomalies.


A 3D-inversion model of the August 2013 MT survey revealed a conductive zone of
approximately 3.5 kilometres long, 1,000 metres wide and 250 to 750 metres
thick, at a depth of 1,500 metres. The anomaly is considered a good to moderate
conductor with apparent resistivity between 10 and 30 Ohm-metres. It is
favourably located within prospective Proterozoic rocks and is bounded to the
west by a fault, interpreted from previous seismic and magnetic surveys. The
extent, depth, conductivity and the geological setting of the MT anomaly fit the
metalogenetic exploration models Darnley Bay is aiming for: either a
copper-nickel magmatic model (example: Sudbury in Ontario or Norilsk in Russia)
or an Iron Oxide Copper Gold model (example: Olympic Dam in Australia).


The MT anomaly is 1.5 kilometres west of diamond drill hole DBR-001, the only
deep hole completed on the Property. This vertical hole was spotted by
geoscientists from DBL and Falconbridge in 2000 and reached the depth of 1,800
meters. DBL was searching for Sudbury style nickel-copper mineralization, and
selected this location for deep drilling because it is one of the few areas
where there are overlapping gravity and magnetic anomalies. The hole was stopped
for technical reasons and did not explain the anomalies. Figure 1
(www.darnleybay.com/news/Figure%201_10.15.2013.html) provides a plan view and a
vertical section showing the result of the MT survey and the location of DBR-001
relative to the seismic survey and the magnetic and gravity anomalies of this
part of the Property.


Jamie Levy, President of Darnley Bay, comments that "The results from the
magneto-telluric survey are exactly what we were hoping for when we initiated
the program. The fact that the large anomaly is coincident with both a gravity
and magnetic anomalies provides us with a high priority drill target, and also
demonstrates that the one deep drill hole on the property was likely drilled in
the wrong place."


The Darnley Bay Property covers a total of 456,000 hectares with a series of
mineral concessions and prospecting permits obtained from the Inuvialuit
Regional Corporation and the Canadian Government. The Property encompasses what
is considered one of the largest and strongest coincident regional gravity and
magnetic anomalies in the world with dimensions of 80 x 100 kilometers. The
regional gravity anomaly has absolute amplitude of 132 mGal (milli-gals), while
the magnetism reaches 1,350 nT (nano-teslas). The source of this anomaly is
thought by DBL staff to be a large and deep mafic-ultramafic intrusion, the type
underlying world class base metal mining camps, with the mineralization being at
shallower depth than the main intrusion itself. It is thought that it was formed
during the regional Franklin or the Mackenzie magmatic events, both Proterozoic
in age (720 million years and 1,270 million years respectively).


MT is a geophysical method of imaging the Earth's subsurface by measuring
natural variations of electrical and magnetic fields at the Earth's surface. In
the 1990s, MT was successfully used to locate mineral deposits as deep as 1,750
metres in the Sudbury nickel mining camp. In the last 10 years, the technique
has seen many improvements, particularly with the development of modern 3D
inversion. In the oil industry, it is now routinely used, in conjunction with
seismic, to better define deep drilling targets. Recently, a 3D-inversion
applied to magneto-telluric data from Voisey Bay nickel mine detected the
nickel-copper mineralization at depth, with apparent resistivity between 10 and
25 Ohm-m (www.cemi.utah.edu/appls/mt/); the same range of values as the MT
anomaly detected on Darnley Bay Property this August. Readers are cautioned that
the similarity of the surveys is not necessarily indicative of the
mineralization on the Property.


The 2013 MT survey on the Darnley Bay Property was performed by EMpulse
Geophysics Ltd, from Dalmeny, Saskatchewan (www.empulse.ca). The technique used
for this survey is Transient Audio-Magneto-Telluric, with proprietary SFERIC II
instrumentation and Adaptive Polarization Stacking algorithm. EMpulse also
performed the 3D-inversion and interpretation of the data. Stations were
surveyed every 500 metres over two selected areas on the Property (see Figure 2,
www.darnleybay.com/news/Figure%202_10.15.2013.html): the Northern Line which is
30 kilometres long and located 15 kilometres south of Paulatuk, (the subject of
this press release); and the Southern sector, 40 kilometres SE of Paulatuk,
where two perpendicular lines totalling 30 kilometres of survey were performed
(final interpretation pending). DBL is planning to do more detailed MT surveying
on each sides of the actual MT anomaly, in order to better define its attitude
and orientation for an eventual drilling program. DBL is also planning more MT
surveying over other selected areas on the Property.


Qualified Person

David Goldak, M.Sc. (Physics), President of EMpulse Geophysics, was in charge of
the survey in the field and responsible for the interpretation. The technical
information of this Press Release has been prepared, reviewed and approved by
Mr. J. Gauthier, P. Eng., P. Geo., a "qualified person" for the purposes of
National Instrument 43-101 Standards of Disclosure for Mineral Properties.


Darnley Bay would also like to take this time to announce the appointment of Mr.
Chris Irwin as Corporate Secretary. Mr. Irwin has over 19 years of experience in
advising public mineral exploration companies on a variety of issues including:
takeover bids, credit facilities, agency transactions, private placements,
initial public offerings (IPO) and credit facilities. During his career he has
served as an officer and/or director of several junior mining companies
including: Canada Lithium Corp.; Trelawney Mining and Exploration Inc.; Roscan
Minerals Corporations; Southern Star Resources; and Laramide Resources Ltd., to
name a few. He has been a member of the Law Society of Upper Canada since 1996.


Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that Darnley Bay expects are
forward-looking statements. Although Darnley Bay believes the expectations
expressed in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in the statements. There are
certain factors that could cause actual results to differ materially from those
in forward-looking statements. These include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on Darnley Bay, investors
should review registered filings at www.sedar.com.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Darnley Bay Resources Limited
Jamie Levy
President and CEO
[phone]
[phone] (FAX)
[e-mail]


Darnley Bay Resources Limited
Greg O'Halloran
Investor Relations
[phone]
[e-mail]
www.darnleybay.com