MAJOR NEW DREADNOUGHT RESOURCE DRILL PROGRAM COMMENCES AT COOLGARDIE PROJECT, WESTERN AUSTRALIA

September 25, 2006

EDMONTON, Alberta – Committee Bay Resources Ltd. (“CBR” or the “Corporation”) and Australian Redemption Joint Venture (RJV) partner Focus Minerals Ltd (ASX: FML) today announced the commencement of a major in-fill drilling program at the Dreadnought deposit at Coolgardie designed to advance the project to full feasibility. In addition, as part of the recently commenced C$1.5 million exploration program (see CBR news release August 28, 2006) within the Redemption Joint Venture tenements, a number of new high-priority gold exploration targets have been delineated.

Key Point Summary:

• 20 hole 2,900 metre infill drill program underway at Dreadnought Deposit
• Ground EM identifies two strong conductors at Perseverance and Flagstaff Areas, associated with high grade gold and located along the same cross structure
• Based on recent ground EM success, the RJV will use airborne mag/EM as a tool to identify additional conductive zones property-wide
• Agreement signed to initiate 1,300 line kilometre airborne mag/EM survey over Coolgardie and Mount Project Areas

The infill drilling at Dreadnought is the first phase of a staged program to bring drill hole spacing to 20x20 metres. The 20 hole program comprises 1,900m of reverse circulation and 1,000m of diamond core drilling which are targeting the high grade core of the southeast zone over a strike length of 200m. The Dreadnought deposit currently hosts a 43-101 compliant Indicated resource of 970,000 tonnes at 2.5 g/t Au for 77,966 contained ounces and an additional Inferred resource of 2,579,000 tonnes at 1.9 g/t Au for 156,992 contained ounces.*

A recent ground EM survey over the Perseverance and Flagstaff areas has successfully identified two separate, strongly conductive zones along the same northeast trending cross structure.  Previous drilling at Perseverance has intersected high grade gold associated with semi-massive to massive pyhrrotite which include 54.24 g/t Au across 18.63m, 12.15 g/t Au across 12.0m, 18.6 g/t Au across 3.66 m and 10.32 g/t Au across 3.83 m from four separate holes.* The mineralization at Perseverance does not outcrop, and the EM data is currently being modeled to determine the orientation and geometry of the conductive zone. The Flagstaff area is also being modeled as it exhibits the same geophysical signature as the conductive zone identified in the Perseverance area. Follow-up drilling on these newly identified conductors will be initiated once the geophysical modeling has been completed.

With the recent success of ground EM surveys at Perseverance and Flagstaff, the RJV believes an airborne magnetic/EM survey has the potential to facilitate the discovery of additional high grade sulphide associated gold occurrences across the Coolgardie Greenstone belt. An agreement has been signed with Geotech Airborne Limited to conduct a 1,300 line km helicopter-borne geophysical survey over the Coolgardie and Mount project areas which will be initiated by the end of September. The survey will consist of high resolution magnetic and time domain EM techniques, which will be the first time EM has been conducted on a regional scale, over the Coolgardie area. The EM and magnetic data will be used in conjunction with MMI geochemistry (see CBR news release January 31, 2006) to develop sulphide nickel targets in the Mount area, which are slated for drill testing later in the year.

Coolgardie Project, Western Australia

Committee Bay Resources Ltd., through the Redemption Joint Venture (Committee Bay in a 50% partnership with Focus Minerals Ltd. ASX: FML), has the mineral rights to more than 210 km2 of under-explored greenstone tenements, located in one of the world’s most significant gold and nickel mining regions.  These tenements contain Indicated resources of 315,720 ounces gold* (5.32 million tonnes at 1.8 g/t gold) and Inferred resource of 1,080,825 ounces gold* (13.7 million tonnes at 2.5 g/t gold).  The RJV also has a 100% interest in the fully permitted, 1.2mtpa, Three Mile Hill Mill processing plant.

* For more information on the stated gold resources and historic drill results of Committee Bay Resources Ltd., please refer to the detailed NI 43-101 compliant technical reports filed on SEDAR by Committee Bay on December 20, 2004, and by Matador Exploration Inc. (now a wholly owned subsidiary of Committee Bay Resources Ltd.) on July 18, 2005.

Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property as detailed in Committee Bay Resources Ltd. ‘Technical Report for the Coolgardie Gold Project, Coolgardie, Western Australia’ by Mike Dufresne - May 27, 2005 pp. 76-80. The program is supervised by Peter Kleespies, M.Sc. P.Geol., Vice President of Exploration (Australia), who is the Qualified Person as defined by NI 43-101.

Committee Bay Closes Private Placement

Committee Bay has closed a non-brokered private placement ( see CBR press release dated August 28, 2006) of 55,000 units (“Units”) at a price of $0.55 per Unit and 199,998 flow-through common shares of CBR (“FT Shares”) at a price of $0.60 per Flow-Through Share for total gross proceeds of CDN$150,000.

Each Unit consisted of one common share of CBR (“Common Share”) and one-half of a common share purchase warrant (a “Warrant”).  Each whole Warrant may be exercised for one additional Common Share at a price of $0.75 per Common Share for a period of two (2) years from issuance.  The Units and FT Shares were sold to qualified purchasers in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.  The Common Shares and Warrants comprising the Units, the FT Shares and the Common Shares issued upon exercise of the Warrants are all subject to a 4 month restricted period expiring on January 20, 2007.

The proceeds from the sale of the FT Shares will be used to incur expenditures on the Corporation’s properties which qualify as Canadian Exploration Expenses.

About Committee Bay

Committee Bay controls major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources.

On behalf of the Board
Committee Bay Resources Ltd.
/s/”John Williamson”
John Williamson, P.Geol.
President

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

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.