Pacific Bay Minerals Ltd. reported that the company has signed a Joint Venture Agreement with Dease Lake Jade Mine Ltd. ehereby Pacific Bay will advance $500,000 to fund and participate on a 50/50 basis in the 2015 proceeds of jade mining operations on claims owned by Dease Lake Jade in Northern British Columbia (JV). In connection with the JV, the company has arranged a $500,000 private placement of 10,000,000 common shares at $0.05 per share with one investor (financing). In connection with and on closing of the financing, Pacific Bay will appoint to its board of directors Mr. Alan Qiao, CEO of Dease Lake Jade.

In addition, the investors in the Financing have the right to appoint one additional director (two in total) at the next annual general meeting of the shareholders of the company.