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Mill Bay Ventures Provides Valentine Mountain Exploration Program Update
VANCOUVER, BRITISH COLUMBIA, Dec. 8, 2010 (Marketwire) -- Further to recent news releases dated October 27, 2010, November 5, 2010 and November 25, 2010, Mill Bay Ventures Inc. (the "Company") (TSX VENTURE:MBV)(PINK SHEETS:MLBVF)(FRANKFURT:M4K) is pleased to provide an update on the 2010 drilling and trench re-excavation program at its 100% owned Valentine Mountain Property on southern Vancouver Island, B.C.

The 2010 drilling program has been completed, with ten drill holes totaling 1,775 metres reaching target depths in the Discovery Zone. Many of these holes tested historical data gaps within the Discovery Zone. Integration of historic and modern drilling and trenching data is in progress, to be followed by detailed geological modeling of gold bearing structures and re-evaluation of historic mineral resource estimates.

Drill core from all ten holes has been logged and is being sawn and sampled at the Company's core facility in Sooke, B.C.; and two sample shipments which include the first seven drill holes have been made to ALS Minerals' laboratory in North Vancouver. Initial geochemistry results from drill core samples are expected to be received from ALS Minerals during December, and significant drill intercepts will be reported as received and compiled. Photographs of the drill core have been posted for viewing on the Company website http://www.millbayventures.com.

The Discovery Zone trenches were partially re-excavated before the on-set of winter snow conditions at the Valentine Mountain Property. Re-mapping and re-sampling of the trenches will be resumed pending the completion and re-excavation during the spring of 2011. This information will be used to verify historic data completed and documented by previous operators.

A preliminary geotechnical assessment for the historic tailings facility located near the Discovery Zone has been received from Thurber Engineering Ltd., based on a site visit completed by one of their engineers during November, 2010.

The contents of this news release have been reviewed by Jacques Houle, P.Eng., a qualified person as defined by NI43-101.

Mill Bay Ventures Inc. owns a 50% interest in the BRX gold claims at Bralorne and 100% interest in three sets of gold claims in Nevada, namely the NV claims, Golden Repeat claims and the E&E-DH claims. See website for details: www.millbayventures.com.

ON BEHALF OF THE BOARD

William Glasier, President

Shares issued: 12,186,539

Last Trading Price: $0.26

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.

Mill Bay Ventures Inc. 604-682-3701 604-682-3600 (FAX) [e-mail] www.millbayventures.com

Source: Marketwire Canada (December 8, 2010 - 5:31 PM EST)

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