URANIUM BAY RESOURCES INC. is pleased to announce that a 10,000 metre diamond drill campaign has started on its wholly owned 314 km2 Uskawanis Uranium Property situated SE of Hydro-Quebec’s Opinaca Hydroelectric Reservoir along the Eastmain River, located 180 km SE of Radisson, Quebec. The objective of the campaign is to test the full uranium resource potential of the first set of priority targets outlined earlier in the summer on the property (refer to news releases dated July 19, 26 and 31, 2007). Chibougamau Drilling (of Chibougamau, Quebec) was contracted to do the drilling work.

Company results to date on the Uskawanis Uranium Property (refer to news releases dated September 7 and 19 2007) include an airborne (helicopter) combined gamma-ray spectrometer radiometric, VLF-EM and magnetic survey that was instrumental in delineating regions with higher radioactivity, where bedrock samples taken outlined radioactive pegmatites within a 6 km by 2 km corridor.

Two main areas of higher grade uranium mineralization have been identified within the corridor: A Zone (bedrock sample site 40), presenting contiguous uranium concentrations greater than 0.031% U3O8, and the B Zone (bedrock sample site 1A). In addition to these, several secondary sectors of higher grade uranium mineralization have been identified, that included bedrock sample sites 27, 36 and 42. Part of the pegmatites surrounding the A and B Zones have been identified as a medium grade uranium sectors with U3O8 values less than 0.031% U3O8 obtained by chemical analysis.

Ground spectrometer results constantly indicated that the pegmatites were considerably radioactive across the property, containing from 500 to 65,535 cps and eU results from 30 to 11,465 ppm eU. The more than 140 chemical analyses results received (from ALS-Chemex Laboratories) gave uranium values ranging from trace values to 1% U3O8, with an arithmetic mean value of 0.038% U3O8. The uranium mineralization is linked to disseminated uraninite in association with magnetite accompanied by yellowish (gummite-type) and greenish (torbernite-type) alteration products.

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