Uranium Bay Receives First Assay Results for the Uskawanis Uranium Property Drill Campaign

MONTREAL, QUEBEC, Feb 14 (MARKET WIRE) --
URANIUM BAY RESOURCES INC. (TSX VENTURE: UBR) is pleased to give its
shareholders a third update on the progress of the diamond drilling
campaign started in October 2007 from its wholly owned 314 km2 Uskawanis
Uranium Property ("UUP") situated SE of Hydro-Quebec's Opinaca
Hydroelectric Reservoir along the Eastmain River, 180 km SE of Radisson,
Quebec.

Review of Project Aims and Expectations

The Uskawanis Uranium Property is being prospected for a Rossing type
uranium deposit. The Rossing deposit (in Namibia - south-western Africa)
is a very large low grade, essentially mono-mineralic uranium deposit
(with associated thorium) that is mined as an enormous open-pit
operation. The principal exploration target is multiple large intrusive
mineralized alaskites (pale/ white pegmatites). These pegmatites must be
intruded in close proximity to each other to generate sufficient mining
tonnage. Individual dykes may be up to 20-30 metres in thickness and
mining volume can only be created by many dykes in close proximity as is
the case at Rossing.

This type of deposit will give widespread airborne radiometric anomalies
for uranium and thorium as mineralized pegmatites can be spread over a
large area. In general however it is anticipated that several core areas
will be identified where the uranium grade is highest and dykes are more
abundant.

Average uranium levels in a granite may be as high as 3 to 4 parts per
million (3 to 4 ppm). Uranium levels in alaskitic pegmatites that are x25
background (between 75 ppm to 100 ppm) are significant and indicative of
Rossing type mineralization.

Currently (2007), Rossing Mine average grade is around 0.032% or 320 ppm
U308 (approximately x100 granite background values), but at current
uranium prices, it is understood that Rossing Mine can economically mine
a grade as low as 80 ppm (approximately x25 granite background values).

THEREFORE THE HYPOTHESIS THAT THE USKAWANIS URANIUM PROPERTY IS A ROSSING
TYPE DEPOSIT HAS BEEN CONFIRMED.

The salient features of the results to date can be summarized as follows:

- Radiometric anomalies identified from ground and airborne surveys have
been found on granites/ pegmatites over a large part of the project area;

- The presence of mineralized alaskites (pegmatites) was initially
demonstrated in outcrop;

- 25 drill-holes have been logged and many have radiometrically active
pegmatites demonstrating mineralization in the third dimension;

- Down-hole-logging has demonstrated elevated uranium/ thorium values in
several drill-holes;

- Down-hole radiometric logging has demonstrated mineralization over
substantial widths (greater than 70 m);

- Geochemical results from drill-hole USK-02 confirm intersects of U308
mineralization over substantial widths with 76 ppm over 95 metres (1-96)
including 16 metres at 100 ppm (77-93) and validate the Radiometrically
down-the-hole readings values obtained;

- Radiometrically down-the-hole logging readings varying from 500 counts
per second (or cps) to over 4,000 cps, intersected over depth

- Logging of drill-holes has shown extensive metasomatism (complete
alteration of rock due to mineralized fluids) typical of the Rossing
deposit;

- Uranium mineralization has been shown associated with multiple dykes
(dyke swarms);

- The hypothesis that the UUP is a Rossing type deposit has been
confirmed.

Uskawanis Uranium Property program update

Initial uranium anomaly identification on the UUP was completed between
June and August 2007 by ground survey teams using Radiation Solutions Inc
spectrometers. These surveys identified radiometric anomalies in
pegmatitic/ granitic rocks. Grab samples taken indicated uranium
anomalies varying from 500 counts per second (or cps) to 65,535 cps, and
30 ppm to 11,465 ppm equivalent uranium assay values (or eU). The more
than 140 chemical assay results gave uranium values ranging from trace to
1% U3O8 (refer to news releases dated July 19, 26 and 31, 2007).

During June and July 2007 Geophysics GPR International Inc, flew an
airborne radiometric survey of the UUP using an airborne spectrometer.
Some 3,537 line kilometers were flown. This data was presented to UBR
November 2007.

Uranium Bay's autumn 2007 drilling campaign drilled 25 drill-holes
numbered USK-01 to USK-25. The drilling was initially investigating
"spot" uranium anomalies located during the field survey near helicopter
Pads 1, 7, 40 and 42. Drill-holes located adjacent to these anomalies
failed to find any continuity of high grade mineralization to depth.

Interpretation of the airborne radiometric data, after it became
available during the drilling programme, showed several areas of
significant elevated uranium levels. These were more typical of the type
of anomalies expected with Rossing style mineralization. Unfortunately,
in general, these were east of the area investigated by the field teams
and there was no ground information available to the UBR team about these
anomalies.

Careful location of the position of the drill-holes showed that several
holes were on small airborne radiometric anomalies. Down-hole-logging
demonstrated that many of these boreholes had continuity of low grade
mineralization. It is now understood that the geology of the area
consists of an early granodioritic rock cut by a later monzonite that has
in turn been intruded by late phase alaskitic pegmatites. It is some of
these pegmatites which are significantly uranium/ thorium enriched.

All boreholes have now been down-hole radiometrically logged and several
long mineralized intersections have been demonstrated.

UBR has just received the first geochemical results from ALS Chemex for
drill-hole USK-02. See the attached diagram for the location of USK-02
and a table of the results available.

As can be seen uranium levels are elevated throughout the borehole with
95 metres (1-96) at 76 ppm, and some 16 metres (77-93) at 100 ppm being
more than x25 typical granite background (between 75 ppm to 100 ppm).

These results are viewed by UBR as highly significant. They clearly
support the belief that the UUP has the potential to contain a Rossing
type deposit.

Further results will be released as they become available.

Mr. Bernard Tourillon, UBR's President and CEO comments: (...) The
drilling still supports our original working hypothesis suggesting that
the style of targets found on the Uskawanis Uranium Property may be
similar to the bulk-type uranium mineralization found in Namibia at the
Rossing Uranium Deposit (...) The Company's goal is fixed on identifying
an economic bulk mineable target within the broad region of anomalous
U3O8 at Uskawanis (...)

Mr. Vivian Stuart-Williams, (SACNASP), a Director of the Corporation and
a Qualified Person as defined by National Instrument 43-101, supervised
the preparation of the information in this news release.

About Uranium Bay Resources Inc.

Uranium Bay Resources Inc. is a Canadian based junior resource and
exploration company trading under the symbol UBR on the TSX Venture
Exchange. The Company has 67,048,642 shares outstanding (88,376,142 fully
diluted). The Company holds 100% of several U3O8 mineral exploration
properties including the 314 km2 Uskawanis Uranium property located just
south of the Opinaca reservoir, the 90 km2 Kauschiskach Uranium property
located just 100 km NE of Radisson in the Quebec James Bay area of
northern Quebec, and the five properties totalling 197 claims covering
the Lac Georges (100 claims), Lac Forget (24 claims), Ruisseau Lebrun (38
claims), Maurice (19 claims) and Bloc extension 06 (16 claims) properties
located in the Wakeham area, in eastern Quebec.

The TSX Venture Exchange (TSX-V) does not accept responsibility for the
adequacy or accuracy of this release. This news release contains
forward-looking statements reflecting Uranium Bay objectives, estimates,
expectations and the impact of acquisitions on Uranium Bay's financial
performance. These statements are identified by the use of verbs such as
"believe", "anticipate", "estimate", and "expect" as well as by the use
of future or conditional tenses. By their very nature, these types of
statements involve risks and uncertainty. Consequently, reality may
differ materially from Uranium Bay's projections or expectations.

A diagram is available at the following address:
http://media3.marketwire.com/docs/Diagram_02_14.pdf

A table is available at the following address:
http://media3.marketwire.com/docs/Table_USK_02_14.pdf

Contacts:
Uranium Bay Resources Inc.
Bernard J. Tourillon
President and CEO
514-846-3271
Toll-free 1-888-666-3431

Uranium Bay Resources Inc.
Guy Girard
VP and CFO
514-846-3271
Toll-free 1-888-666-3431

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