SOURCE: North Bay Resources Inc.

January 04, 2010 08:31 ET

North Bay Resources Inc. (NBRI) Stakes Major Position in Zeballos Gold Camp

SKIPPACK, PA--(Marketwire - January 4, 2010) - North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has acquired a major position in the historic Zeballos Gold Camp by staking claims to 2,001 contiguous acres containing several high-grade gold deposits, with documented assays as high as 10.34 ounces (321.7 grams) of gold per tonne.

The Zeballos Gold Property is located approximately three kilometers north of the village of Zeballos on the west coast of Vancouver Island in southwestern British Columbia. The property encompasses eight past-producing gold mines with high-grade assays of gold mineralization. Three of these, the Golden Gate, Tagore, and Beano mines, are on open ground unencumbered by crown grants, and will be the primary focus initially.

The Golden Gate mine (MINFILE 092L 005) features a sulphide-rich vein system that is known to be over 168 metres in length. A 0.9 metre channel sample returned 25.4 grams (0.81 ounces) per tonne, and diamond drilling has encountered a 9.8 metre intercept of 9.6 grams per tonne gold, including a 1.5 metre section assaying 135.7 grams (4.36 ounces) per tonne gold and 44.2 grams per tonne silver.

The Tagore mine (MINFILE 092L 006) is situated approximately 1 kilometer due west of the Golden Gate. Limited mining in the past is documented to have averaged 2.86 ounces per tonne gold and 4.64 ounces per tonne silver.

The Beano mine (MINFILE 092E 002) is situated 1.5 kilometers southeast of the Golden Gate mine. Samples of massive pyrrhotite in the area have assayed up to 321.7 grams (10.34 ounces) per tonne gold and 6.8 grams per tonne silver over narrow widths.

The other mines within the claim group are the Roper (MINFILE 092L 013), North Star Gold (MINFILE 092L 017), Lone Star (MINFILE 092L 015), Rimy (MINFILE 092L 016), and Mount Zeballos (MINFILE 092L 012) mines, with documented assays as high as 3566 grams (114.66 ounces) per tonne gold. These mines are located in a cluster of crown grants approximately 2 km northeast of the Golden Gate mine. While it is known that several of the crown grants have been forfeited, further due diligence will be required to determine if the new claims include the rights to these resources as well.

A 2003 report by the British Columbia Ministry of Mining (MEMPR) entitled "Gold Opportunities in Southwest BC" states that "9.15 million grams Au were produced from 18 underground Au-quartz deposits in the Zeballos District on northwest Vancouver Island. Three deposits host resources totaling 395,000 tonnes @ 12.83 g/t Au containing 5 million grams Au. The district has potential for very high grade (150 g/t ) Au-skarn deposits evidenced by production grades from Beano (092E002) & Tagore (092L006)." As has been noted above, North Bay now holds a 100% ownership position in both the Beano and Tagore deposits.

In 2004, a report published by the British Columbia Geological Survey states in its introduction that the Zeballos mining camp was an important gold producer in the 1930's and 1940's, and remains "in all likelihood significantly underexplored" (Source: Geological Fieldwork 2004, Paper 2005-1; Marshall, D., Close, S., Podstawskyj, N. and Aichmeier, A.; Gold Mineralization and Geology in the Zeballos Area, Nootka Sound, Southwestern British Columbia).

From 1998 to 2007, most of the Zeballos property was owned and operated by Newmex Minerals Inc., with the primary focus on the areas surrounding the crown-granted Privateer mine. Despite the results of a 2005 NI 43-101 report that recommended continued work on the property, Newmex decided to shift its focus from precious metals to oil and gas production (Source: Newmex Minerals press release August 10, 2005). Newmex subsequently changed its name to BlackPearl Resources Inc. in 2006, and in 2007 elected to let the Zeballos property lapse. It has since changed hands between several vendors, and a recent forfeiture allowed North Bay to claim the majority of it.

Links to all of the documents referenced in this press release are available on the Zeballos Gold page at the Company website, at http://www.northbayresources.com/zeballos.html.

About North Bay Resources Inc.

North Bay Resources Inc. (PINKSHEETS: NBRI) is a junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada. 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.

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