North Bay Resources Inc. (NBRI) Issues Ruby Mine Progress Report
SKIPPACK, PA--(Marketwired - May 6, 2014) - North Bay Resources
Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to
issue the following progress report of the work ongoing at the Ruby
Mine in Sierra County, California.
The Big Bend raise being constructed into the Black Channel is
nearing completion. The final leg is being installed at a more
measured pace to help insure that the raise punches through into
the Black Channel in a location where drainage will not be an
issue. Upon completion we will have driven the raise from the
Contractor's Drift into the Black Channel, just north of the Big
Bend area. Once we break through, we expect there will then be
a period of assessment in the newly-accessed areas to determine
what sections of the Black Channel can be mined in the near-term
while exploration proceeds forward in the rest of the channel.
The drilling program that began on March 27 is continuing. The
work was initiated using our own crew and in-house equipment, which
was intended to keep the cost per foot at a minimum. The size
of our long-hole drill relative to the low ceiling above the tunnel
has necessitated the drilling to be done on a much steeper angle
than would otherwise be optimal, and after several weeks it has
become clear that this inefficiency has caused the cost per foot to
be much more than planned. Accordingly, we are considering
having the work done by a drilling contractor to save the Company
money on a cost per foot basis, as well as to get the work done in
a timelier manner.
We also report that while the raise work and drilling has been
ongoing, a second bulk sample of gravels mined from the White
Channel was processed, resulting in 24.88 grams of gold recovered
from a 60 ton stockpile. This is a considerable improvement
over the results from our first bulk sample, and while not yet
economical, it is far more encouraging. After the Big Bend
raise is completed, we will consider returning to the White Channel
to see if the grade continues to improve upon further
exploration.
In other news, the Company is pleased to announce that an
additional 57 acres of placer claims has been staked adjacent to
the northern border of the Ruby property to consolidate our
ownership of the mineral rights surrounding what is believed to be
a surface outcrop and extension of the Ruby's Cincinnati
Channel. The total size of the property has thus been expanded
to 2,312 contiguous acres.
Mr. C. Gary Clifton, P.Geo., is the Company's independent
consulting geologist for the Ruby Gold Project. Mr. Clifton is
a Qualified Person as defined by National Instrument 43-101, and
has reviewed this press release for technical accuracy.
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 2,312 contiguous 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 59 unpatented claims
containing approximately 1,877 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 subsidiary, Ruby Gold, Inc., owns and
operates the Ruby Mine in Sierra County, California. The Ruby Mine
is a fully-permitted underground placer and lode mine located in
the northern extension of the historic Mother Lode system. 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 2,312 acres,
only a small portion of which has been explored to date.
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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