North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the
"Company") is pleased to issue the following update on our Monte
Cristo project in the Lillooet River Valley near Harrison Lake,
British Columbia.
In conjunction with our JV partner, Devlin's Bench Mining Ltd
and P. Wright Contracting Ltd ("PWC"), the Company has engaged Ms.
Agathe Bernard, B.Sc., as the consulting geologist supervising the
Monte Cristo project. Ms. Bernard has a degree in Geology from
Laval University in Quebec City, Canada, and has extensive
experience in the planning, development, coordination,
implementation, and supervision of geological and environmental
programs, including exploration drilling, soil remediation, erosion
control management and soil and water quality monitoring. Ms.
Bernard has recently served as a consulting geologist for Xstrata,
Eastmain Resources, and Astral Mining, amongst others.
On February 14, 2012, the Company and PWC began an exploration
and sampling program on the Monte Cristo property, under the
supervision of Ms. Bernard. The initial goal of the work program
was to verify the presence of submicron size metals in the sand
material along the Lillooet River, which was previously indicated
by work conducted in 1970 by G.L. Kirwin, B.Sc., and J.M. Ashton,
P.Eng., as documented in BC Assessment Report 2589. Instead, the
crew unexpectedly found an abundance of visible gold, with some
particles as large as one millimeter.
In her initial report from the field, Ms. Bernard stated, "The
first round of soil sampling was exceptionally promising, showing
visible gold flakes in 10 out of 17 samples collected. Most of the
samples consisted of 60-90% fine to medium grained dark gray sand,
with 10-30% sub angular light gray fine gravel. Most of the darker
fraction correlated with high magnetite concentration, which is a
favorable indication for gold accumulation at the site and is
almost invariably present in placer gold deposits."
The Company notes that Kirwin and Ashton never reported visible
gold in their findings, and the Company therefore considers this a
new discovery. This may also indicate that they missed the primary
target, and the total resource may be much larger than they
originally estimated. In addition, the Company notes that metal
values in placer deposits often increase substantially with
increase in depth towards bedrock, which in the case of the Monte
Cristo is expected to be well over 100 feet below the surface. To
find visible gold in near-surface samples is therefore considered
quite significant.
The first seventeen samples of black sand were concentrated on
site using a Keen concentrator and reduced in volume by
approximately 200 times to concentrate the fine part of the sample.
The concentration was supervised by Ms. Bernard, and the samples
were sent to ALS Labs in Vancouver for analysis. The assay results
are expected back within a few weeks, at which time we will also
learn if submicron size metals are also present in the samples.
About Devlin's Bench Mining Ltd
Devlin's Bench Mining Ltd is based in Barkerville, BC, and
operates several placer gold mines throughout the Cariboo Mining
District of British Columbia, including Conklin Gulch, Antler
Creek, Devlin's Bench, Grouse, and Williams Creek.
About P. Wright Contracting Ltd
P. Wright Contracting Ltd is a Barkerville BC-based mining
contractor, working in the mining sector for 20 years in British
Columbia and the Yukon. PWC contracts for Ministry of Mines
reclamation projects in the Cariboo Mining District, in addition to
work for most other related government agencies. Fully insured and
with a Lowbed company in house, PWC is 100% owned by Pete Wright
and is a sister company to Devlin's Bench Mining Ltd., also owned
100% owned by Wright.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting
junior mining company with over 150 mineral and placer claims
encompassing approximately 60,000 acres throughout British
Columbia, Canada.
In the US, the Company owns the Ruby Gold Mine in Sierra County,
California, and is presently planning to acquire additional
operating mines in the western US.
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.
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 subsequent 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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