David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSX Venture: PBM, 'Pacific Bay' or the 'Company') reports that the Company has repriced, subject to the acceptance of the TSX Venture Exchange, it's non-brokered private placement announced September 24, 2020 with planned gross proceeds of $625,000.

The announced 1,500,000 non flow through units at $0.15 per unit will now be priced at $0.125 per unit, consisting of one common share and one warrant to purchase one additional common share at a price of $0.175 for a period of one year.

The previously announced 2,000,000 flow through units at $0.20 per unit will now be priced at $0.175 per unit consisting of one flow through share and one warrant to purchase one non flow through share at a price of $0.225. Gross proceeds will now be $187,500 non flow-through and $350,000 flow through funds, totalling $537,500 in aggregate. The Company plans to pay finders fees on all or part of the financing.

Contact:

Tel: 604-682-2421

Email: dbrett@pacificbayminerals.com

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