Mr. David Brett reports

PACIFIC BAY EXTENDS CLOSING DATE OF NON FLOW-THROUGH FINANCING BY TWO WEEKS

Pacific Bay Minerals Ltd. has received TSX Venture Exchange approval to extend the closing date of the remaining 1.21 million non-flow-through units at a price of 12.5 cents per NFT unit to Feb. 5, 2021. Each NFT unit consists of one common share and one warrant to purchase one additional common share at a price of 17.5 cents for one year.

The NFT units form part of a $537,500 non-brokered flow-through and non-flow-through private placement announced on Nov. 4, 2020. The first tranche of the financing closed on Dec. 8, 2020, raising gross proceeds of $366,440. The company will not proceed to close the remaining flow-through portion of the financing. The company may pay finders' fees on all or part of the remaining financing in accordance with the policies of the TSX Venture Exchange.

The company plans to use the proceeds of the financing to explore its 100-per-cent-owned B.C. gold and polymetallic properties and for working capital purposes.

We seek Safe Harbor.