Hornby Bay Announces Rights Offering and Commencement of Drilling Program

Hornby Bay Mineral Exploration Ltd. (TSX VENTURE:HBE) (the "Company") is pleased
to announce the terms of a rights offering to existing shareholders to raise
gross proceeds of up to $1,937,533 (the "Offering").


The Company will be offering to eligible holders of its outstanding common
shares ("Common Shares") of the Company of record as at the close of business on
August 6, 2010, rights (each, a "Right") to subscribe for up to approximately
12,109,582 flow-through common shares (each a "Flow-Through Share") of the
Company on the terms set forth in a rights offering circular (the "Circular") to
be mailed to shareholders and available under the Company's profile on SEDAR at
www.sedar.com. Each such holder will receive one Right for each Common Share
held on the Record Date. Four Rights will entitle the holder to purchase one
Flow-Through Share at a price of $0.16.


The Rights expire at 4:00 p.m. (Toronto time) on August 31, 2010 (the "Expiry
Time"), after which time unexercised Rights will be void and without value. The
Rights will be listed on the TSX Venture Exchange and cease trading at 12:00p.m.
(Toronto time) on August 31, 2010.


The Rights and underlying Flow-Through Shares are not being offered to, and the
Rights may not be exercise by, persons who are residents of any jurisdiction
other than each of the Provinces of Ontario, Alberta and British Columbia.
Reference is made to the section in the Circular entitled "Ineligible
Shareholders".


Net proceeds of the Offering will be up to $1,757,533, assuming that all of the
Rights are exercised. Proceeds of the Offering will be used to fund an
exploration program on the Company's 40 mineral leases and 16 mining claims
located in Coppermine river, Nunavut and for general working capital needs.


The Company is also pleased to announce that the 2010/11 diamond drilling and
seismic program on its Coppermine River Property in Nunavut has commenced.


This news release contains forward-looking statements. These statements are
based on information currently available to the Company and the Company provides
no assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as "anticipates",
"believes", "could", "estimates", "expects", "may", "shall", "will", or "would".
Since forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.

Hornby Bay Mineral Explo... (TSXV:HBE)
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