SKIPPACK, PA., July 8, 2009 – North Bay Resources Inc. (OTC: NBRI) (“North Bay” or the “Company”) is pleased to announce that it has acquired a 100% interest in the Cherry Gold Property in southeastern British Columbia, Canada.
Cherry Gold is a road-accessible property that covers 1,788 acres located 9 kilometres east of Cherryville BC and 50 kilomtres east of Vernon BC. The property is within the Monashee Gold Camp, and was previously known as the Hilton Claim Group.
The primary target area is known as the Bulldozer Trench. According to MINFILE 082LSE063, there are 2 mineralized shear zones in the Bulldozer Trench; the Cherry and the Hilton shears. BC Assessment Report 11892 documents that samples from this area have assayed up to 158 grams (5.08 ounces) per tonne gold and 1251 grams (40.22 ounces) per tonne silver. Samples of the Cherry shear where no quartz veining is present assayed up to 20 grams per tonne gold, 1.05 per cent lead and 76 grams per tonne silver over 90 metres. These samples are confirmed in Assessment Report 18706, which concludes that the property “has good potential for hosting an economic gold deposit”. As well, both of these mineralized shear zones are open along strike and down dip.
A second target zone has been identified near the northwestern border of the property, and which is within 250 metres of the past-producing True Blue mine. As documented in MINFILE 082LSE035, assays from the True Blue were reportedly as high as 100,000 grams (3,215 ounces) per tonne silver. The Company believes that the True Blue vein system may extend further to intersect the northwest quadrant of the Cherry Shear, the potential of which warrants further investigation.
About North Bay Resources Inc.
North Bay Resources Inc. (OTC: 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.
Perry Leopold, CEO
North Bay Resources Inc.