TSXgroup

July 30, 2008

JAMES BAY RESOURCES LIMITED ("JBR")
BULLETIN TYPE: New Listing-IPO-Shares
BULLETIN DATE: July 30, 2008
TSX Venture Tier 2 Company

The Company's Initial Public Offering ("IPO") Prospectus dated July 14, 2008, has been filed with and accepted by TSX Venture Exchange, and filed with and receipted by the Ontario Securities Commission on July 14, 2008, pursuant to the provisions of the Securities Act (Ontario).

The gross proceeds received by the Company for the Offering were $9,309,812.50, consisting of 7,447,850 Units at $1.25 per Unit. Each Unit includes one Common Share and a one half Common Share purchase Warrant. Each whole Warrant entitles the holder to purchase a further Common Share at $2.00 until July 24, 2008. The Company is classified as a 'Mining' company.

Commence Date: At the opening Thursday, July 31, 2008, the common shares will commence trading on TSX Venture Exchange.

Corporate Jurisdiction: Ontario

Capitalization: Unlimited common shares with no par value of which 27,872,850 common shares are issued and outstanding.

Escrowed Shares: 10,925,000 common shares

Transfer Agent: Equity Transfer & Trust Company
Trading Symbol: JBR
CUSIP Number: 470273 10 3

Agent: IBK Capital Corp.

Agent's Warrants: 744,785 non-transferable purchase warrants. Each Warrant entitles the holder to purchase one Unit at $1.25 per Unit for a period of 24 months.

For further information, please refer to the Company's Prospectus dated July 14, 2008.

Company Contact: Stephen Shefsky, President & CEO
Company Address: 20 Victoria Street, Suite 800, Toronto, ON M5C 2N8

Company Phone Number: (416) 366-4200
Company Fax Number: (416) 366-4201