James Bay Resources Provides Corporate Update and Review of Its 'Ring of Fire' Property

James Bay Resources Limited (TSX VENTURE:JBR) ("James Bay" or the "Company") is
pleased to provide a corporate update as well as a review of its 'Ring of Fire'
property in the James Bay Lowlands in Northern Ontario. The Company currently
has approximately $7.9 million in its treasury.


Exploration at the James Bay Property has been focused on locating magmatic
Ni-Cu-PGE and/or VMS base metal deposits. Work conducted to date on James Bay's
strategic land position in Ontario's mineral-rich 'Ring of Fire' has revealed
multiple exciting geophysical targets. In 2008, the Company completed a VTEM
airborne geophysical survey on 100% of the property. Existing VMS and
Ni-Sulphide discoveries in the 'Ring of Fire' have been made using similar
airborne geophysical techniques. Several highly-promising
magnetic/electromagnetic conductors were initially identified such as a 5 km
long trend flanking a large domal magnetic feature and a possible 7 km layered
intrusion. 


Based on compelling airborne geophysical data, James Bay drill tested several of
the geophysical anomalies from its forward operations base at Lamon Lake. A
2,100 metre drill program was initiated, focused primarily on the Company's C
and C-Extension Blocks (click on www.jamesbayresources.com/maps_graphics.php and
press release dated December 5, 2008). All drill holes intersected massive to
semi massive sulphide sections of pyrrhotite with minor pyrite and trace
chalcopyrite. Multiple targets on the A, B1, B2, D, E, F and G Blocks were not
tested as part of the initial drill program and analysis of the VTEM survey
reveals numerous geophysical anomalies. 


Management believes strongly in the future prospects of its 'Ring of Fire'
property and is pleased to report that the claim package will remain in good
standing through 2013. In reviewing recent developments in the Ring of Fire,
management will begin to undertake further analysis of its drilling and
technical data with the aim of better understanding the overall geological
environment. Given James Bay's proximity to significant chromite deposits in the
Ring of Fire, management will re-evaluate data to determine the potential for
chromite mineralization. With the recent developments in the Ring of Fire, James
Bay is evaluating the balance of targets, geophysics and geology at its 'Ring of
Fire' property and is looking at strategic alternatives to maximize the value of
its significant land package. 


About James Bay Resources

James Bay is a well-financed Canadian mineral exploration company with 21,872
hectares of 108 royalty-free, 100-percent owned claims in the McFauld's Lake
area of the James Bay Lowlands. The Property is located 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.