North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the
"Company") is pleased to report that the Company has cleared the
last remaining obstacle in the Ruby Tunnel at the 4900 vein and has
crossed the Melones Fault to gain access to the Black Channel. This
has always been one of the principle goals of the Ruby Tunnel Rehab
project, and thus represents another significant milestone in the
reopening of the Ruby Mine.
As previously explained in a Company press release dated July
23, 2012, the section of the tunnel that has been undergoing
rehabilitation since 2011 is on the west side of the Melones Fault,
the principle controlling structure that defines the Motherlode
system of Northern California. Having now reached the 4900 vein, we
have crossed 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 economic significance of the Black Channel is documented as
being that section of the mine that was in production at the time
the Ruby was closed in 1942 by order of the US government pursuant
to War Production Board Order L-208. Up to that point, the Black
Channel had already produced over 58,000 ounces of gold, including
the world-class C.L. Best Collection of Ruby Nuggets currently on
display at the Los Angeles County Museum of Natural History. The
importance of the Black Channel was highlighted in an April 1987
interview with Lewis Huelsdonk, the Ruby mine manager at the time
it was unexpectedly forced to close by the War Board. In the
interview Mr. Huelsdonk is quoted as saying, "It seemed like we no
sooner got onto the gold when the war broke out and the government
closed the mine. We were right in the middle of taking these
nuggets, so you can imagine how we felt at the time." The article
goes on to explain that after the war the cost of operating the
mine rose astronomically, the government froze the price of gold at
$35 an ounce to effectively eliminate the free market, and the mine
never reopened. A link to the entire article is available at
http://www.northbayresources.com/ruby/CA_Mining_Journal_Article.pdf.
The Company notes that additional rehab work to reinforce and
retimber the Black Channel workings will need to be done before
bulk sampling and test mining can begin in that location. In the
meantime, the Company is continuing preparations to begin test
mining at the White Channel as previously announced in a Company
press release dated August 27, 2013. The initial bulk samples from
the White Channel are expected to be extracted and delivered to the
mill for processing by the end of the month.
The Company also notes that while the most difficult part of the
tunnel rehab has been completed and test mining operations are now
beginning, additional rehab work remains to be done further
upstream from the Black Channel. There is yet another mile of
tunnel leading to the secondary exit at the Lawry Shaft that still
needs to be assessed and rehabilitated before the Lawry Shaft can
be considered to be reopened. While this continuing rehab is not
expected to be nearly as intensive as the work now completed, it is
nevertheless just as important. Putting the Lawry back into service
opens the mine from stem to stern, and allows access to several
more mining targets, including the Pilot Channel, Sally's Alley,
and the Mt. Vernon Channel.
As always, the Company will continue to keep shareholders
updated as the work continues and our initial mining operations
begin to bear fruit.
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 completing the
rehabilitation of the Ruby Tunnel and commencing test mining
operations at the mining targets currently accessible.
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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