SOURCE: North Bay Resources Inc.

February 19, 2009 08:31 ET

North Bay Resources (NBRI) Discovers Gold on Fraser River Platinum Property

SKIPPACK, PA--(Marketwire - February 19, 2009) - North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") announced today that gold has been discovered on its Fraser River Platinum property in south-central British Columbia, Canada.

The Fraser River Platinum Property is a placer resource located 3 kilometres northwest of Lytton, BC. It encompasses a PGE occurrence referred to as the Van Winkle Bar, which is known to contain high values of platinum and iridium. According to government records documented in BC MINFILE 092ISW078 and BC Open File 1986-7, the sands of the Van Winkle Bar assay up to 5681.1 grams (182.67 ounces) per tonne platinum. Until now, the Company had no indications that the mineralization also included gold.

As previously announced, the Company has initiated a joint-venture with a private party based in Canada ("the JV Partner") intended to develop the Company's Fraser River Platinum property. The JV partner has subsequently filed the requisite Notice of Work with the Province of British Columbia, and has recently begun the first phase of test excavations 400 metres northwest of the Van Winkle Bar along an old river channel situated 75 metres higher than the existing Fraser River channel.

Initial reports from the field indicate that the first two test pits revealed visible gold in the black sands within two feet of the surface. No estimation is available yet as to the grade, but a set of samples is expected to be delivered to the assay lab shortly for analysis. While no visible platinum has been detected at this early stage, lab analysis should show the extent to which platinum and other PGE metals are also present.

As described in the report, the general matrix of the bench placer has fine gold disbursed throughout the deposit, but at low concentrations. However, pay streaks within the general deposit are distributed in bands throughout the orebody, and are much more concentrated, especially closer to the original erosion channel. The orebody has been termed a "low velocity deposit," and a textbook example for carrying pay streaks at several depths and not just near the erosion channel. Upon issuance of additional work permits the test pits will be further excavated to a depth of at least 25 to 30 feet so that samples can be taken at every foot vertically from the test pit wall in an attempt to intersect the pay streaks.

North Bay CEO Perry Leopold stated, "While we are naturally very excited by the unexpected news of gold being found, these results are extremely preliminary, and there is still much work to be done to determine whether the size and grade of the mineralization represents an economic resource. We will of course keep shareholders informed of our progress as this phase of the work program continues."

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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