Discovery Group Update
July 31, 2006 - Committee Bay Resources (CBR:TSXV) has closed a brokered private placement of an aggregate of 9,090,982 units (“Units”) and 5,000,000 flow-through common shares of CBR (“FT Shares”) for gross proceeds of $7,999,490.10. Each Unit was sold at a price of $0.55 and consisted of one common share of CBR (“Common Share”) and one-half of a transferable share purchase warrant (“Warrant”).
-Committee Bay Resources - www.committeebay.com

Financings Closed from July 31 – August 4, 2006:

Total Amount Raised: C$58,266,659.00
Total Flow Through: C$9,724,970.00
Total Units: C$48,541,689.00
Total Base Metals: C$32,025,500.00 (Between 6 companies)
Total Precious Metals: C$56,416,159.00(Between 13 companies, 7 specializing in Gold)
Total Diamond: C$1,995,150.00 (Between 2 companies)

Top Brokers: Jennings Corp with C$25,000,000.00 and Pacific International with C$9,200,000.00
Top Regions: Canada (with 16 companies, 3 of which have operations in BC)
USA (with 3 companies, 2 in Alaska and 1 in Wyoming)

Financings Closed from July 24 – July 28 2006:

Total Amount Raised: C$188,558,291.00
Total Flow Through: C$4,210,487.00
Total Units: C$184,347,804.00
Total Base Metals: C$88,587,887.00 (Between 7 companies)
Total Precious Metals: C$93,295,324.00(Between 17 companies, 8 specializing in Gold)
Total Diamond: C$6,675,080.00 (1 company)

Top Brokers: Bell Lawrie with C$6,675,080.00 and Salman Partners with C$5,504,400.00
Top Regions: Canada (with 14 companies, 7 of which have operations in BC)
USA (with 2 companies, 1 in Alaska and 1 in Nevada)

-Canadian Financing Bulletin, Weekly Survey

*The Discovery Group is an alliance of five independent mining and exploration companies that have come together to take advantage of the knowledge shared by the management teams that make up the various companies. It is our goal to teach new people about our Industry through our Educational Series that provides information through regular seminars and this blog.