diff --git a/CHANGELOG.md b/CHANGELOG.md
index ec1d79d..5a403a3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,16 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [0.3.1] - 2025-06-04
+### Fixed
+- Fixed posterior probability calculation with proper signal vs noise hypothesis differentiation
+- Fixed clippy warnings and formatting issues for CI compliance
+
+### Changed
+- Implemented conservative negative binomial parameter estimation for improved statistical modeling
+- Updated repository description
+- Applied code formatting improvements
+
 ## [0.3.0] - 2025-05-28
 ### Changed
 - **BREAKING**: Replaced p-values with posterior probabilities in the Bayesian model
diff --git a/Cargo.lock b/Cargo.lock
index 519e0cc..4551dda 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1278,7 +1278,7 @@ dependencies = [
 
 [[package]]
 name = "sbpc"
-version = "0.3.0"
+version = "0.3.1"
 dependencies = [
  "anyhow",
  "bio",
diff --git a/Cargo.toml b/Cargo.toml
index da9cdb0..5765f59 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "sbpc"
-version = "0.3.0"
+version = "0.3.1"
 edition = "2021"
 description = "Simple Bayesian Peak Caller for genomic data"
 authors = ["Jake VanCampen <jake.vancampen7@gmail.com>"]