SOURCE: North Bay Resources Inc.
SKIPPACK, PA--(Marketwire - Jun 27, 2011) - North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce the release of a NI 43-101 Technical Report (the "Report") on its 100%-owned Zeballos Gold Project on Vancouver Island, British Columbia.
The Zeballos Gold Project covers 3,025 contiguous acres (1,225 hectares), and 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 several past-producing gold mines with high-grade assays of gold mineralization documented in the BC MINFILE database to be as high as 10.34 ounces (321.7 grams) of gold per tonne. Three of these, the Golden Gate, Tagore, and Beano mines, are on open ground unencumbered by crown grants, and were the primary focus of the Report.
The Report was authored by Mr. Brian Simmons, P. Eng., following a three day site visit and evaluation of the Zeballos Gold claim group. Mr. Simmons holds a B.S. degree in Mining Engineering from the Colorado School of Mines, and has been employed in various capacities as a mining engineer and consultant throughout British Columbia for the past 30 years. Mr. Simmons is currently President of Rodell Enterprises Ltd., and is a Qualified Person as defined by National Instrument 43-101.
The Report provides a consolidated and detailed summary of the geology, history, and exploration of the Zeballos Gold Project claim area. Among the conclusions reached by Mr. Simmons, the character of the Zeballos Gold Project is deemed sufficient to merit further exploration, and he recommends a Phase I work program to focus on trenching and geological mapping of two gold anomalous areas in particular: a gold soil anomaly around the existing Beano workings, and a gold anomaly found at the headwaters of the Golden Gate and Hidden Valley creeks. Of this second occurrence, the Report states, "A second gold anomaly was found at the headwaters of the Golden Gate and Hidden Valley creeks. Three soil sampling programs confirm these results. A VLF-EM survey conducted in the same anomalous area shows a strong conductor with a northwest strike." The Report goes on to state, "A band of limestone/volcanic rock from the Beano showings strike northwesterly towards this anomalous area. Stevenson maps this limestone/volcanic structure again just north of the Golden Portal. It is possible that the band of auriferous limestone extends northwest from the Beano workings through this area. It is also possible that this is an epithermal gold quartz structure similar to the Zeballos gold camp."
A copy of the complete Report is available on the Zeballos Gold page at the North Bay website, at http://www.northbayresources.com/zeballos.html.
Mr. Brian Simmons, P. Eng., is the Qualified Person as defined by National Instrument 43-101 for the evaluation of the Zeballos Gold Project and has reviewed this news release for technical accuracy.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.
In the US, the Company is acquiring the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
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.
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 subsequent Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml