Vancouver, British Columbia--(Newsfile Corp. - August 13, 2020) - David H. Brett, President and CEO, Pacific Bay Minerals Ltd. (TSXV: PBM), ("Pacific Bay" or the "Company") reports that the Company has now filed its Annual Audited Financial Statements for the year ended December 31, 2019 and its Interim Financial Statements for the Period ended March 31, 2020. Accordingly, the British Columbia Securities Commission published a Revocation Order on July 31, 2020, lifting the Cease Trade Order ("CTO") over the Company. In relation to the CTO, the TSX Venture Exchange (the "Exchange") required that the Company make application to the Exchange for reinstatement of trading of its securities. The Company's application was approved and trading is expected to resume August 13, 2020.

In the course of its review of the Company's compliance with continuing listing requirements, the Exchange identified that the Company does not have an adequate number of independent board members. One member of the Company's three person board is independent, and the Company has 90 days to add one or more independent directors to its board.

Pacific Bay Minerals Ltd.
Per/

David H. Brett, MBA
President & CEO
604-682-2421

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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