North Bay Resources Announces 0.5 Oz per Ton Gold Massive Sulphide; Commences Test Mining, Fran Gold Project, British Columbia

Rhea-AI Summary

North Bay Resources (OTC:NBRI) has announced significant gold discoveries at its Fran Gold Project in British Columbia, including a massive sulphide outcrop assaying 0.5 oz/ton (14 g/t) gold. The newly identified gold zone spans 30x40 meters with a depth exceeding 4 meters, potentially containing 15,000 tons.

The company has initiated test mining operations and will process the ore at its Bishop Gold Mill. Recent mill operations demonstrated 80% gold recovery rates using gravity separation. Additionally, NBRI discovered a new mineralized area in the Hilltop Zone, showing assays of 0.1 oz/ton across 55 feet, expanding the project's potential.

The company's bulk tonnage deposit is estimated at 20Mt grading 0.5 g/t Au and 44Mt grading 0.3 g/t Au. The Fran Gold Project is strategically located near Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine.

Positive

• Discovery of high-grade gold zone with 0.5 oz/ton (14 g/t) gold assays
• Efficient 80% gold recovery rate at Bishop Gold Mill
• Significant bulk tonnage resource: 20Mt at 0.5 g/t Au and 44Mt at 0.3 g/t Au
• New Hilltop Zone discovery expanding mineralization potential
• Strategic location near major producing mines

Negative

• Historic stockpile shows decreased grade at depth from 0.34 opt to 0.03 opt Au
• Lower than expected gold output per ton from stockpile material
• Non-compliant resource estimate (non-NI 43-101)

BISHOP, Calif., July 16, 2025 (GLOBE NEWSWIRE) -- North Bay Resources, Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce assays of 0.5 opt (14 g/t) from a massive sulphide outcrop proximate to Trench B at the Company’s Fran Gold Project, British Columbia. This gold zone is located between Trenches B + C and is 30 meters N-S by 40 meters E-W with a depth of greater than 4 meters (representing 15,000 tons). The 5 lbs. sample (164992) was assayed by fire assay with atomic absorption, conducted at ALS Global, North Vancouver, BC. Previous surface sampling from Summer 2024 are as follows:

	Sample ID	Zone Name	Au Oz/Ton	Ag Oz/ Ton
	3621	B Zone	0.31	0.07
	3623	B Zone	2.27	0.31
	3624	B Zone	0.31	0.03
	3625	B Zone	1.23	0.1
	3626	C Zone	1.84	2.45
	3628	C Zone	1.62	0.24
	3629	C Zone	0.55	0.08

The Company has mobilized for test mining and expects to have crews on site in 5 days with ramp-up, and shipment of gold ore to its Bishop Gold Mill for processing.

Fran Stockpile

Extensive grid assays of the Fran Gold historic stockpile in June 2025, have shown a decrease in grade at depth resulting in a transition from an original surface grade of 0.34 opt (10 g/t) Au to 0.03 opt (1 g/t) Au at depth. This has resulted in lower than expected gold output on a per ton basis at the Bishop Gold Mill but a much higher re-calculated overall recovery of approximately 80% utilizing gravity only. As a result, the Company has targeted the 0.5 opt Au massive sulphide zone between Trenches B + C for immediate test mining, development and as the primary source of feedstock for the Mill. The Company will pre-concentrate the historic stockpile on-site, prior to shipment to the Mill, at a later date. The historic stockpile is now estimated at 4,200 tons with a grade of 0.03 opt. (1 g/t) gold and a value of $420,000 at $3,300 per ounce gold. The Mill is deemed to be operating at a high rate of efficiency and recovery with high amenability to Fran Gold ore and gravity separation utilizing centrifuge with grind to -150 mesh.

Refinery Settlement

The Company has received preliminary settlement from a shipment of 518 lbs. of gold concentrate from the Bishop Gold Mill to the Company’s refinery partner Just Refiners Reno, NV. Recovery rate was approximately 80% based on 28 tons processed with approximate head grade of 0.03 opt (1 g/t) Au.

	Exchange Date	Material	CN	Net Wet Lbs.		Net Wet Short Tons	Sample -80 Wt. Grams	Sample +80 Wt. Grams
	14-Jul-25	Concentrate	6399	518		0.259	226.3	0.013
	Element	Settlement	Weighted Average
	Au Oz/Ton	2.573	2.573
	Ag Oz/Ton	1.228	1.228
	H2O%	3.17
	Total Au Oz.	0.646
	Total Ag Oz.	0.308

Hilltop Zone

Recent assays from the largely unexplored Hilltop Zone to the South of the Main Zone have resulted in discovery of a large outcrop with assays of 0.1 opt (2.9 g/t) gold and 0.1 opt (2.6 g/t) gold across 55 feet (18m). This has further expanded the mineralized area at Fran and confirmed historical assays up to 30 g/t. (1 opt) in this zone. This area reflects a further extension of the main N-S fault where the richest area of the deposit is found. The newly re-established Hill Top Zone is a significant distance, approximately 300m, South of the Main Zone. In addition to the deposit being open at depth and in the East Zone, the main gold bearing fault and related cross faults appear to extend to the South.

Fran Gold Project

As a result of the recently discovered bulk tonnage deposit and associated resource estimate the Company has implemented a two-pronged approach to the Fran Gold Project. In addition to providing feedstock to the Company’s Bishop Gold Mill from the high grade surface oxide zone, exploration is now occurring in the infill area between the Main Bullion Alley Zone, East Zone and newly re-established Hilltop (South) Zone.

The Company is proceeding with the development of the bulk tonnage deposit and has begun consultation with a Mine Engineering firm regarding detailed economics, mine plan, and construction. Mining costs at the nearby Blackwater Gold Mine are $9 per tonne processed as compared with the current bulk tonnage resource at Fran (2025, non-NI 43-101) of approximately 20Mt grading 0.5 g/t Au ($54 per tonne) and 44Mt grading 0.3 g/t Au ($32 per tonne).

Past exploration and development, including over 18,000m (55,000ft.) of diamond drilling, has shown large intercepts of mixed vein and disseminated gold. The deposit area has been identified to be in excess of 1,000m x 100m x 300m within a known strike length of 1,700m. The Fran Gold Project is next to Centerra Gold’s Mt. Milligan Project, with Reserves of 264Mt grading 0.3 gram per tonne gold and 0.2% copper and proximate to Artemis Gold’s Blackwater Mine, with Proven and Probable Reserves of 334Mt grading 0.8 grams per tonne gold. Both Mt. Milligan and the Blackwater Mine are two of the largest new copper/gold and gold mines respectively, in North America.

On behalf of the Board of Directors of

NORTH BAY RESOURCES INC.

Jared Lazerson
CEO

info@northbay-resources.com

northbay-resources.com

X: @NorthBayRes

YouTube: North Bay Resources - YouTube

LinkedIn: North Bay Resources Inc | LinkedIn

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.

FAQ

What gold grades did North Bay Resources (NBRI) discover at the Fran Gold Project?

NBRI discovered a massive sulphide outcrop assaying 0.5 oz/ton (14 g/t) gold between Trenches B + C, with the zone measuring 30x40 meters and over 4 meters deep.

What is the current resource estimate for NBRI's Fran Gold Project?

The project has a non-NI 43-101 compliant resource of approximately 20Mt grading 0.5 g/t Au and 44Mt grading 0.3 g/t Au.

What is the gold recovery rate at NBRI's Bishop Gold Mill?

The Bishop Gold Mill achieves approximately 80% gold recovery utilizing gravity separation with centrifuge and grinding to -150 mesh.

How does NBRI's Fran Gold Project compare to nearby mines?

The Fran Gold Project is located near two major mines: Centerra Gold's Mt. Milligan (264Mt at 0.3 g/t Au) and Artemis Gold's Blackwater Mine (334Mt at 0.8 g/t Au).

What are the mining costs for NBRI's Fran Gold Project compared to nearby operations?

While NBRI's mining costs are not yet determined, the nearby Blackwater Gold Mine operates at $9 per tonne processed, providing a regional cost benchmark.