Dow Jones Description
Our name is Bay Resources Ltd. and we sometimes refer to ourselves in this
annual report as "Bay Resources", the "Company" or as "we," "our," or "us." We
are an exploration stage mining company. Our objective is to exploit our
interest in the mineral claims in Nunavut, Canada which are in the Committee Bay
Greenstone Belt and in the Slave Craton. Our principal exploration target is for
gold and we are seeking to determine whether adequate gold reserves are present
on the property covered by our claims to develop an operating mine. We are in
the initial stages of our exploration program and have not yet identified any
ore reserves.
We hold the interest in the Slave Craton and our wholly owned subsidiary named
"Golden Bull Resources Corporation" (formerly 4075251 Canada Inc.) holds the
interests in the Committee Bay Greenstone Belt. Our wholly-owned subsidiary is
referred to in this annual report as `Golden Bull."
We sometimes refer to our claims collectively in this annual report as either
the "Committee Bay Properties" or the "Slave Properties". Our claims are
registered in the Mining Recorders Office in the Mining District of Nunavut and
give us the right to explore and mine minerals from the property covered by the
claims.
