James Bay Resources Intersects VMS Zones in Drill Holes at McFauld's Lake Property

James Bay Resources Limited (TSX VENTURE:JBR) ("James Bay" or the "Company") is
pleased to provide a progress report on its continuing drill program on its
McFauld's Lake 'Ring of Fire' property in northern Ontario.


The Company began drilling the first phase in late September and suspended
drilling on October 31 due to freeze-up. The Company intends to continue
drilling after freeze-up in mid-January in order to test several additional
high-priority conductors. The 5,000 metre diamond drill program is focused
primarily on the Company's C and C-Extension Blocks. Drill targets were selected
based on VTEM airborne surveys, which indicated several electromagnetic
conductors including a 5 kilometre long trend flanking a large domal magnetic
feature.


Eleven holes totaling 2,138 metres were drilled to test the 5 kilometre long EM
trend and other nearby EM conductors. Initial visual inspection of the core from
the 5 kilometre long EM trend found a zone approximately 50 to 60 metres
(downhole thickness) of 1 to 3 % disseminated pyrrhotite with minor pyrite.
Within this zone, two semi massive sulphide sections were intersected. The
first, a 2 to 5 metre (downhole thickness) section, was intersected towards the
top of the zone and was found to be semi massive pyrrhotite with minor pyrite
and trace chalcopyrite. The second semi massive sulphide section was found
towards the bottom of the zone as a 1 to 3 metre (downhole thickness) section of
semi massive pyrrhotite with minor pyrite and trace chalcopyrite. The conductive
zone appears to be in a mafic metavolcanic host rock environment with minor
felsic volcanics.


Lab analyses are pending and are anticipated to be complete by the beginning of
December. Once analyses are available, the Company will be in a better position
to make further updates.


This news release has been prepared under the supervision of Brad Leonard P.
Geo., Exploration Manager of James Bay Resources, who is the designated
qualified person under NI 43-101 for the technical information contained in this
news release.


About James Bay Resources

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 28,040,350 shares outstanding and trades on the TSX
Venture Exchange under the symbol "JBR". Please visit the James Bay website at
www.jamesbayresources.com.


Disclaimer

Certain statements contained in this news release may contain forward-looking
information within the meaning of Canadian securities laws. Such forward-looking
information is identified by words such as "estimates", "intends", "expects",
"believes","may", "will" and include, without limitation, statements regarding
the company's plan of business operations (including plans for progressing
assets), estimates regarding mineral resources, projections regarding
mineralization and projected expenditures. There can be no assurance that such
statements will prove to be accurate; actual results and future events could
differ materially from such statements. Factors that could cause actual results
to differ materially include, among others, metal prices, risks inherent in the
mining industry, financing risks, labour risks, uncertainty of mineral resource
estimates, equipment and supply risks, title disputes, regulatory risks and
environmental concerns. Most of these factors are outside the control of the
company. Investors are cautioned not to put undue reliance on forward-looking
information. Except as otherwise required by applicable securities statutes or
regulation, the company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new information,
future events or otherwise.