SOURCE: North Bay Resources Inc.

June 04, 2009 07:30 ET

North Bay Resources (NBRI) Increases Holdings in Slocan Silver District

SKIPPACK, PA--(Marketwire - June 4, 2009) - North Bay Resources Inc. (PINKSHEETS: NBRI) ("North Bay" or the "Company") is pleased to announce that it has increased its holdings in the Slocan Silver District in southeastern British Columbia with a number of strategic acquisitions.

The North Star Silver Property, previously announced and described on January 5, 2009, has been increased in size from 1,028 acres to 1,849 acres through the staking of additional claims adjacent to the property. These include the continuation of a key reverted crown grant on which the past-producing Noonday Mine is located. Past-production from the Noonday yielded an average of 2655 grams (85.3 ounces) per tonne silver, 0.16 gram per tonne gold, 18% lead, and 2.4% zinc.

Two kilometers north of the North Star the Company has also acquired the Bosun Mine and eleven reverted crown grants through the staking of approximately 1,500 acres above the village of Silverton. Past-production from the Bosun Mine between 1898 and 1976 yielded about 60 tonnes of silver, 4906 tonnes of lead, and 3145 tonnes of zinc.

The Company has also staked a claim to the Capello Property, which covers 756 acres approximately 2 kilometers northeast of the Bosun Mine. The new claims surround the past-producing Capello Mine, from which intermittent production of only 177 tonnes resulted in 2,464,602 grams of silver and 1337 grams of gold. This equates to an average yield of 13,924 grams (448 ounces) per tonne silver and 7.5 grams per tonne gold. More recently, an extension to the Capello vein has been traced onto the Florence reverted crown grant, which is also part of the new claims.

It should be noted that both the North Star Silver and the Bosun properties are adjacent to newly-acquired claims by Klondike Silver Corp., who has also been undertaking an expansion of its holdings into the same area as North Bay. These properties are along the Main Lode structure of the Silver Ridge. The Main Lode was described recently by Klondike as "the principal source of the Slocan Camp's silver-lead-zinc production ... is more than 5 miles (8 km) long, extending from Silverton on Slocan Lake in the west to Sandon in the east through the 'Silver Ridge' of the Selkirk Mountains, 30 miles (50 km) north of Nelson, BC."

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.

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.

Contact Information