NWT Mineral Exploration

[Ed Monton]

New High Grade Gold-Silver Discovery at Committee Bay
Additional 65,766 Acres Staked

EDMONTON, ALBERTA--(CCNMatthews - Oct. 19, 2004) - Committee Bay
Resources Limited (CBR) announced assay results from a new high grade
gold-silver showing at Anuri for the Committee Bay project located
northeast of Baker Lake. Samples at the new Anuri showing produced
high-grade gold and silver values up to 288.85 g/t Au and 1,769.5 g/t
Ag, 10.53 g/t Au and 395.9 g/t Ag, and 9.36 g/t Au and 280.2 g/t Au. Of
the 42 samples analyzed from outcrop and boulders seven samples
contained in excess of 5 g/t Au and 12 samples contained in excess of
2g/t Au. Mineralized boulders and outcrop have been traced along a half
kilometer wide zone over a distance of 2 km. Several other gossans and
boulder trains have been identified and will be sampled next year.

The Anuri area is considered to be highly prospective for gold-silver
mineralization and is characterized by extensive zones of intense
calc-silicate alteration, sulphidation and silicification. The
pyrite-bearing mineralization appears structurally controlled within
highly reactive rocks including widespread komatiites, komatiitic
basalts and basalts.

Like recent discoveries at Raven and Burro (see CBR press release August
15) the Anuri discovery lies immediately northeast of a large intrusive
body referred to as the Central Tonalite. It is likely that this
'pressure shadow' northeast of the Central Tonalite has undergone
dilation or 'opening' during deformation and is thus a highly
prospective area for the introduction of gold-bearing fluids. This
combination of structural dilation, geology and alteration is analogous
to gold producing districts such as Red Lake, Ontario. This discovery of
Anuri and other similar showings has led to the staking of an additional
65,766 acres of greenstone belt in the area. These results are part of
the $C7.9 million exploration program conducted with joint venture
partner Gold Fields Limited on the Committee Bay project in 2004.

Committee Bay Resources Ltd maintains an extensive quality control
program in the preparation, shipping and checking of all samples from
the property. The program is supervised by Dean McDonald, P.Geo. Ph.D.,
Vice President of the company, who is the Qualified Person as defined by
NI 43-101.

With this new staking Committee Bay Resources Ltd holds 1.6 million
acres or over 86% of the known greenstone belt at Committee Bay.

On behalf of the Board

COMMITTEE BAY RESOURCES LTD

/s/ "John Williamson"

P.Geol., President

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FOR FURTHER INFORMATION PLEASE CONTACT:
Committee Bay Resources Limited
Bernie Kennedy
Investor Relations Manager
[phone] or Toll Free: [phone]
Website: www.committeebay.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.