North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the
"Company") is pleased to report that the crew at the Ruby Mine
tunnel rehab project has successfully breached the last remaining
air blockage in the tunnel, thereby achieving a major milestone
with the restoration of natural airflow throughout the entire
length of the Ruby tunnel system.
The restoration of natural airflow is of critical importance
before any mining operations can commence, and was one of our
highest priorities when the Ruby tunnel rehab began in November
2011. In addition to providing the full underground ventilation
that is so essential to a mining operation, the importance of this
milestone is equally significant in that the breakthrough also
facilitates access to the secondary exit at the Lawry Shaft, a
vital mine safety consideration.
We currently estimate that there remains another 150 feet or so
of the serpentinite belt that needs to be mucked and retimbered
before the crew can advance to the 4900 level to evaluate the
entrances to the Black Channel where we plan to begin mining
operations. This work is expected to take several more weeks. As
previously explained in a Company press release dated July 23,
2012, the section of the tunnel where the rehab work has been
ongoing is on the west side of the Melones Fault, the primary
controlling structure that defines the Motherlode system of
Northern California. The geological lithology of this western
section is characterized by long stretches of serpentinite, which
is a brittle rock structure prone to fracturing and cave-ins. To
help insure that mining operations are not interrupted from falling
rock from the serpentinite roof, a great deal of care has been
taken to retimber this part of the tunnel as much as is deemed
prudent, and in some areas installing new timbering to further
reinforce the roof and ribs of the tunnel. This has been a slow and
tedious process done with the utmost of caution to maximize the
safety of the miners, but we are now within sight of completing the
task.
Upon reaching the 4900 vein, we will cross over to the eastern
side of the Melones Fault and into the approach to the Black
Channel. It is worth noting that much of the gold produced from
vein deposits of the Motherlode has been mined from the eastern
side of the Melones Fault, a geological structure that runs through
the entire length of the Ruby property. The geological lithology of
the eastern side of the Melones Fault is characterized as a slate
structure, which has an inherent stability that is more
self-supporting. Whether additional timbering or other roof support
beyond that point is needed remains to be seen, but we expect any
additional rehab work that might still be required will proceed at
a much faster pace once we reach that section of the tunnel. Upon
reaching the 4900 Vein, we will have installed over 80,000 board
feet of new timbering. We will also have installed almost 5,000
feet of new ventilation duct to support the rehab work, most of
which will no longer be needed now that natural ventilation has
been established.
As always, we will continue to keep shareholders informed of our
operational progress as we proceed forward towards completion of
the tunnel rehab project and the start of production this
summer.
North Bay CEO Perry Leopold commented, "When we first began the
rehab project in 2011, we knew there was an obstruction in the
tunnel that was blocking the air flow from the secondary exit at
the Lawry Shaft. We also knew that whatever was obstructing the
natural airflow needed to be cleared before we could begin mining.
We thought it would take a minimum of 4 to 6 weeks to clear. What
we did not know was whether the first blockage was the only one, or
if there were more blockages beyond it. When we got past that first
one, there was still no air flow, and we found another obstruction
upstream, then another, and another. No one knew and no technology
exists to show what was beyond each blockage, and whether the next
one was the last one or not. As it turned out, it took almost 2
years to clear and retimber over two dozen blockages, some small
and some large, but I am extremely pleased to report that one by
one we finally got it done. I can't say enough about the
determination and professionalism of our crew who attacked each
obstacle head on and carefully cleared it from our path while
reinforcing the tunnel to provide for safe mining conditions once
we begin production. We are indeed fortunate to have a great team
of experienced miners, and we expect that shareholders will benefit
for years to come from their tireless efforts."
About The Ruby Gold Project
The Ruby Mine, a/k/a the Ruby Gold Project, is a fully-permitted
underground placer and lode mine located near Downieville in Sierra
County, California that is known to have produced over 350,000
ounces of gold since the 1850's, and which is considered to be part
of the northern extension of the historic Mother Lode system. The
Ruby Property covers approximately 1,755 acres, only a small
portion of which has been explored to date. The property consists
of the subsurface mineral rights of two patented claims totaling
approximately 435 acres and 30 unpatented claims containing
approximately 1,320 acres. The equipment, fixed assets, and
infrastructure in place include a 1,000 yard per day placer wash
plant, 50-ton per day quartz mill, 6,000 feet of tracked haulage,
and related support equipment needed for underground mining
operations. The property also features an excellent system of
roads, is accessible via paved highway from Reno or Sacramento, has
abundant water and timber available for mining purposes, and has
PG&E power available on-site. For further information on the
Ruby Mine, please visit the Ruby page on the North Bay website at
http://www.northbayresources.com/ruby/.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCQB: NBRI) is a fully-reporting
junior mining company with current operations in the US and
Canada.
In the US, the Company's 100% owned and royalty-free Ruby Mine
is a fully-permitted underground placer and lode mine located in
the northern extension of the historic Mother Lode system in Sierra
County, California. The Ruby is known to have produced over 350,000
ounces of gold since the 1850's, including some of the most
spectacular gold nuggets on record. The Ruby Property covers
approximately 1,755 acres, only a small portion of which has been
explored to date. The Company is presently rehabilitating the Ruby
Tunnel, and expects to begin mining operations upon its
completion.
In British Columbia, the Company holds 100% ownership of a
multitude of significant mining properties. These include two
gold-platinum placers, the Fraser River Project and the Monte
Cristo, and lode projects such as the advanced-stage Mount
Washington Project on Vancouver Island, the Brett West/Bouleau
Creek Gold project near Vernon BC, the Coronation Gold project in
the historic Slocan Mining district, and the Tulameen Platinum
Project near Princeton, BC. In addition to its many precious metal
projects, the Company also owns additional prospective projects
that host strategic mineral resources such as Vanadium, Crystalline
Flake Graphite, Olivine, and Rare Earth Elements (REE).
The Company's mission is to build a portfolio of viable mining
prospects throughout the world and developing them through
subsidiaries and JV partners to their full economic potential.
North Bay's business plan is based on the Generative Business
Model, which is designed to leverage its properties into near-term
revenue streams even during the earliest stages of exploration and
development. This provides shareholders with multiple opportunities
to profit from discoveries while preserving capital and minimizing
the risk involved in exploration and development.
Additional information on the Company's many properties and
ongoing projects is available at the Company website at
http://www.northbayresources.com.
SAFE HARBOR FOR FORWARD LOOKING
STATEMENTS
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities and
Exchange Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties. Although North Bay Resources Inc. believes that the
assumptions underlying the forward-looking statements contained
herein are reasonable, any assumption could be inaccurate, and
therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion should
not be regarded as a representation by North Bay Resources Inc. or
any other person that the objective and plans of North Bay
Resources Inc. will be achieved.
Cautionary Note to U.S. Investors -The
United States Securities and Exchange Commission permits U.S.
mining companies, in their filings with the SEC, to disclose only
those mineral deposits that a company can economically and legally
extract or produce. We use certain terms on our website (or press
releases), such as "measured," "indicated," and "inferred"
"resources," which the SEC guidelines strictly prohibit U.S.
registered companies from including in their filings with the SEC.
U.S. Investors are urged to consider closely the disclosure in our
Form S-1 and Form 10-K which may be secured from us, or from our
website at http://www.sec.gov/edgar.shtml
Contact: Perry Leopold CEO North Bay Resources Inc. 215-661-1100
http://www.northbayresources.com
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