Pebble Creek Mining Ltd. Provides Corporate Update

TSX-V: PEB

NEW WESTMINSTER, BC and New Delhi, Nov. 1, 2011 /CNW/ - Pebble Creek Mining Ltd. ("Pebble Creek" or "the Company") is pleased to announce that its President and CEO, Dr. Andrew Nevin, will deliver a presentation on the Company's  projects at Global Mining Finance's "New Frontiers Conference" in London on November 2.

The Company's leading project is a VMS (volcanogenic massive sulphide) deposit of copper, zinc and lead, with significant silver and gold, located at Askot, Uttarakhand state, in northern India.

In view of the current financial markets, Pebble Creek is exploring strategic alternatives for the Company and its Askot project.  It is engaged in discussions with various large mining companies, including some well-established Indian companies, regarding alternatives including joint venture and off-take agreements and other financing and development alternatives.

A 30-year Mining Lease has been pre-approved by the Indian Ministry of Mines and conditionally by the Uttarakhand government. The last remaining condition, acquiring surface rights on 29 hectares of government land, is being addressed at present.

The mining plan, approved by the Indian Bureau of Mines, is for an underground mine, with tailings backfilled underground, and no discharges into the environment. The Company has obtained Environmental Clearance. More than 30 local people are employed at the site and the Company has the full support of the local community.

This news release contains forward-looking statements that address future events and conditions and are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the application of laws and regulations where the Company's operations are situated, the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in commodity prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements

Neither 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.


SOURCE Pebble Creek Mining Ltd.

For further information:

Gyan C. Singhai, PEng, Executive Chairman, Telephone: +1 604 529 9076
Mike Romanik, Vice President, Telephone: +1 204 724 0613

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Pebble Creek Mining Ltd.

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