SOURCE: North Bay Resources Inc.

March 31, 2010 11:34 ET

North Bay Resources Inc.: Silver Quest Budgets $2.2M for Capoose Project

SKIPPACK, PA--(Marketwire - March 31, 2010) - North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to report that Silver Quest Resources Ltd. ("Silver Quest"), the Company's joint-venture ("JV") partner on the Fawn-Buck property, recently announced that its Board of Directors has approved a $2.2 million budget for the Capoose Project ("Capoose"). The Capoose Project is located on the Nechako Plateau, 185 km southwest of Prince George, British Columbia, and encompasses the Fawn-Buck JV area within the southern portion of the project area.

According to the announcement made by Silver Quest on March 30, 2010, "Silver Quest is planning extensive diamond drilling at Capoose to enhance and further define the NI 43-101 inferred resource of 1.32 million ounces of gold equivalent or 53 million tonnes at a grade of 0.77 g/t gold equivalent. This season's program will include over 10,000 metres of resource definition drilling, consisting of approximately 35 drill holes with depths ranging between 250 and 300 metres. Drilling will be completed in a grid pattern across the south end of the deposit to infill the central portion of the deposit area and test for extensions of the deposit to the south. Silver Quest also plans on drill testing several geophysical and geochemical targets in other areas on the property."

Shareholders are encouraged to monitor Silver Quest's news releases at www.silverquest.ca for further details and updates on the Capoose Project, including the upcoming Fawn-Buck work program.

About the Capoose Project

The Capoose property, located 185 km southwest of Prince George on the Nechako Plateau, has been actively explored and drilled since the 1970s. Silver Quest completed 24 drill holes (3,212 m) in 2008 and 2009. The property has also received extensive soil geochemistry and various geophysical surveys. As a result of recent staking by Silver Quest of 15,754 hectares of mineral claims, the optioning of additional mineral claims, and the joint-venture with North Bay on the Fawn-Buck claims, the Capoose Project currently forms one contiguous block consisting of 70 claims and totaling more than 30,000 hectares (74,100 acres).

About Silver Quest Resources Ltd.

Silver Quest Resources Ltd. is a mineral exploration company listed on the TSX Venture Exchange. With current projects located across Canada, and a portfolio of projects that range from early stage grassroots exploration to advanced-stage resource expansion, the Company is positioned to add shareholder value through systematic project advancement. Silver Quest is currently focused on silver and gold exploration in the Yukon and on the Nechako Plateau of central British Columbia, with its primary assets being the Capoose, Davidson and 3 T's projects.

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.

The Company has recently filed registration documents with the SEC to become a fully-reporting company. Once the registration is effective, the Company will then be eligible to have its stock listed on the OTCBB.

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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