SOURCE: North Bay Resources Inc.

March 18, 2014 08:15 ET

North Bay Resources Inc. (NBRI) Provides Fraser River Project Update

SKIPPACK, PA--(Marketwired - Mar 18, 2014) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to announce that the Company has engaged the firm of Golder Associates Ltd. to conduct a Heritage Impact Assessment ("HIA") on our Fraser River Project near Lytton, British Columbia. The survey work is scheduled to begin within the next few weeks.

As previously reported in a Company press release dated December 18, 2013, the Heritage Branch of British Columbia's Ministry of Forests, Lands and Natural Resource Operations (the "Branch") has asked the Company to conduct a HIA survey of our permitted mining site prior to the start of mining operations. The purpose of the survey is to satisfy the Branch that our mining project will not disturb any sites within our work area that might potentially be deemed to have any historical significance. 

The scope of the survey initially requested by the Branch was, in the Company's view, exceptionally wide ranging and covered an area much larger than the Company's mining claims actually encompass. The time and expense to complete such a survey was seen by the Company as excessive, and after an extended period of discussion, the Branch has recently submitted a more focused proposal on the Van Winkle Flats area where our mining claims are located, and which the Company has accepted. On March 14, 2014, the Branch issued a Heritage Inspection Permit for the Fraser River Project (the "Project Area"), and the survey work will now proceed forward. 

To complete the survey, the Company has selected Golder Associates Ltd. to conduct the HIA and report its findings to the Branch. The objectives of the HIA will be to:

  • prepare a detailed land use history of the Van Winkle Flats (the "Study Area") using existing records;

  • prepare the required Statement of Significance ("SOS") for the historic resources of the Study Area;

  • identify, record, and assess the heritage features, with a particular focus the Project Area;

  • identify and evaluate possible impacts to identified character-defining elements in the Project Area; and

  • recommend appropriate impact management actions specific to the Project Area.

The Golder team will be led by Dr. Christopher Andreae, Ph.D., CAHP. Dr. Andreae has a Ph.D. in Historical Geography from the University of Western Ontario (2006), a Master's Degree in Industrial Archaeology, University of Birmingham, England (1992), and a Masters in Museum Studies (University of Toronto, 1981). He is a founding member of the Canadian Association of Heritage Professionals (CAHP), and its past-president (1988-1989). He has also served as president of the Society for Industrial Archeology (2004-2006) and as a Director of the Ontario Historical Society (1992-1994). With over 30 years of experience in providing services to all sectors of built-heritage assessments, Dr. Andreae has undertaken heritage impact assessments on a wide range of heritage buildings, structures, and landscapes in Canada and the United States, and has a well-established reputation for his work in industrial archaeology. Dr. Andreae will direct the recording, documentation, and assessment of heritage resources for the Project, and will be supported by a local team of skilled heritage resource management professionals familiar with BC's heritage and the Project location.

The survey work is scheduled to begin in early to mid-April, and is expected to take 6-8 weeks to complete and deliver a report to the Branch.

About The Fraser River Project

The Fraser River Project is located near the village of Lytton in south-central British Columbia, Canada, and covers approximately 4.5 kilometers of placer claims along the Fraser River. Recent assessments indicate assays up to 5.68 grams per tonne gold and 0.427 grams per tonne platinum. 

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 subsidiary, Ruby Gold, Inc., owns and operates the Ruby Mine in Sierra County, California. The Ruby Mine is a fully-permitted underground placer and lode mine located in the northern extension of the historic Mother Lode system. 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. 

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

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