Committee Bay and Niblack Merger Makes Progress

Committee Bay Resources Ltd. (TSX VENTURE:CBR)(FRANKFURT:C3M) ("Committee Bay",
or the "Company") is pleased to announce that, further to its Letter Agreement
with Niblack Mining Corp. ("Niblack") announced on May 22, 2008, the companies
have entered into a formal Arrangement Agreement providing for a business
combination, whereby Committee Bay will acquire (the "Acquisition") all of the
issued securities of Niblack on the share exchange ratio of one share of
Committee Bay for every one share of Niblack.


The Acquisition remains subject to certain conditions, including continuation of
due diligence by Committee Bay and approval by Niblack shareholders. Niblack has
obtained the requisite Interim Court Order authorizing the calling of their
shareholders' meeting on September 18, 2008 to approve the Acquisition. With
this and final court and regulatory approval, the transaction is scheduled to
close on October 1, 2008.


Committee Bay has also agreed, subject to certain conditions, to provide
financing to Niblack of up to C$10,000,000 by way of secured convertible
debenture. To date, Committee Bay has advanced C$5,624,918 to Niblack under the
debenture to further exploration and development work on Niblack's wholly owned
advanced stage precious metal-bearing volcanogenic massive sulphide (VMS)
project in southeast Alaska. Any future advances under the debenture are at the
sole discretion of Committee Bay.


Niblack Mining Corp.

Niblack Mining is a mineral exploration company focused on the exploration and
development of gold-rich base metal VMS properties in southeast Alaska. The
Company has three projects, including its high-profile gold-silver-copper-zinc
Niblack project on Prince of Wales Island. Since 1995, over C$30 million has
been spent advancing the Niblack project.


The Niblack property is an advanced stage project comprising six major zones of
mineralization, including the Lookout zone. In September 2007, Niblack commenced
an underground exploration program designed to provide access to over two
kilometres of untested stratigraphy, and to extend the Lookout zone at depth and
down plunge. Some of the deepest drilling at the Lookout zone includes drill
hole LO-129 grading 3.42 g/t gold, 98 g/t silver, 4.52% copper and 16.38% zinc
over 4.48 metres. The 1,000 metre underground development stage of the program
has been completed including excavation of all drill stations. An 8,000 metre
drill program designed to expand the known zone of mineralization is now
underway.


To date, 14 holes have been completed for a total of 2,400 metres (all assays
pending). Drilling is targeting down plunge continuation of known mineralized
zones, and will be completed from both the second and third crosscuts. In
addition to expanding the Lookout zone, drilling will test several other targets
from stations established every 150 metres along the main access ramp.


SRK Consulting is currently preparing a NI 43-101 compliant resource estimate
from surface based drilling completed to date.


About Committee Bay Resources Ltd.

Committee Bay Resources Ltd. is a well-funded Canadian based exploration
company. The company has a diverse portfolio of exploration projects in Canada,
Australia and South America, including the Committee Bay Greenstone Belt Project
in Nunavut, Canada which hosts the high grade Three Bluffs gold deposit. On May
22, 2008 the company announced a proposed merger with Niblack Mining Corp.
Committee Bay conducts year round exploration and development to advance its
projects and will continue to monitor the market for undervalued acquisition
opportunities. Committee Bay is a member of the Discovery Group of companies,
for more information on the group visit www.discoveryexp.com.


On behalf of the Board

Committee Bay Resources Ltd.

John Williamson, P.Geol., President, CEO & Director

Certain disclosures in this release, including management's assessment of
Committee Bay's plans and projects, constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to
Committee Bay's operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Committee Bay expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.