EDITOR: | January 30th, 2013

Rio Tinto Canada Uranium Corporation Commences Drilling

| January 30, 2013 | No Comments

January 30, 2013 (Source: Marketwire) Vancouver, BC — Pistol Bay Mining Inc. (TSX VENTURE:PST) reports that it has received notice from Rio Tinto Canada Uranium Corporation (“RTCUC”) that it has commenced drilling on the Company’s C-5 property, located in the Athabasca Basin, Saskatchewan.

As reported on January 9, 2012, RTCUC has proposed an 1800 meter diamond drill program and ground gravity survey for the C-5 property. Team Drilling of Saskatoon, SK has been contracted to carry out the drill program and Eastern Geophysics of West Pubnico, NS have been contracted to carry out the planned gravity survey and data collection.

Technical information in this news release has been prepared and/or revised by Mike Magrum, PEng, a qualified person as defined in NI 43-101.

About Pistol Bay Mining Inc.

(TSX VENTURE:PST) – Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on precious and base metal properties in North America.

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



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