SOURCE: North Bay Resources Inc.

February 12, 2010 14:09 ET

North Bay Issues Update on Bouleau Creek Gold Property

SKIPPACK, PA--(Marketwire - February 12, 2010) -  North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") announced today that the Company has terminated its Bouleau Creek Gold joint-venture with Natco Mining Corp. ("Natco") for failure by Natco to comply with the terms of the joint-venture agreement signed on Oct 29, 2009 and announced on Nov 2, 2009. The terms of the agreement specified that the transaction was to be finalized within 30 days of signing, with an initial payment by Natco to North Bay of $50,000. Despite several extensions of the closing date, the Company has never received this payment, and the Company has elected to exercise its right to terminate the JV and seek a new joint-venture partner.

The Company has also announced that it will be attending PDAC 2010 in Toronto on March 7-10, at which time it expects to include Bouleau Creek Gold in its meetings with potential JV partners. Other Company properties already slated for presentation include New Eskay Creek, Truax Mountain, Argo Gold, Connie Hill, North Star Silver, Zeballos Gold, Tulameen Platinum, and Pine River Vanadium. PDAC 2010 is an international trade show for the mining industry, sponsored by the Prospectors & Developers Association of Canada (PDAC), and is one of the premier industry events of the year.

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.


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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