SOURCE: North Bay Resources Inc.

June 12, 2009 11:38 ET

North Bay Issues Update on Fraser River Platinum Property

SKIPPACK, PA--(Marketwire - June 12, 2009) - North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") announced today that its joint-venture partner ("JVP") in the Fraser River Platinum Property has unexpectedly withdrawn from the project due to an unforeseen conflict of interest with an independent 3rd party unrelated to North Bay. As a result, JVP has relinquished its 50% interest, and North Bay has regained 100% ownership of the Fraser River Platinum property. As well, since JVP was also the project manager, the Company has temporarily suspended the Phase II work program at the site until a new project manager with comparable qualifications can be recruited.

JVP is a private party based in Canada with extensive experience in all phases of excavation, development, extraction, recovery, and reclamation of placer resources. The present situation arose when the Company was notified by JVP of conflicts relating to other environmental and reclamation contracts they had with another party in the vicinity of the Fraser River Platinum project to which JVP has previously committed, and on which JVP has been served with objections as to their concurrent participation in the North Bay joint-venture. Attempts by the Company at mediation with the other party have been unsuccessful, and JVP has made the final decision that it has no other alternative but to withdraw.

North Bay CEO Perry Leopold commented, "I would like to personally thank Bill Morgan and his entire team for the excellent work and dedication they have provided in advancing the Fraser River Platinum project to this point. Replacing someone of Bill's caliber will be quite a challenge, but we will press forward, either on our own, or with another joint-venture partner. We will of course keep shareholders apprised of when the Phase II work program resumes, and of any other developments as they unfold."

About North Bay Resources Inc.

North Bay Resources Inc. (PINKSHEETS: NBRI) is a junior mining company with over 100 mineral and placer claims encompassing approximately 40,000 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.


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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