North Bay Resources Announces Acquisition of Bendito Resources

Rhea-AI Summary

North Bay Resources (OTCID:NBRI) announced a binding Letter of Intent to acquire 100% of Bendito Resources for a one-time cash payment of $25,000,000, debt free, announced March 26, 2026.

The portfolio includes the fully permitted Oposura 1,683 kt M+I zinc project (total M+I contained ~83 kt Zn, 1,089 koz Ag), the advanced Alacran silver-gold project (Grand Total M+I 10.46 Mt with ~27.4 Moz Ag), the Promontorio copper project (2.9 Mt at 1.4% Cu, containing ~39,600 t Cu), and five additional properties. Bishop mill operations restarted in March with a test shipment from Fran Gold.

Positive

• Acquisition price: $25,000,000 for 100% of Bendito
• Oposura M+I: 1,683 kt ore containing 83 kt Zn
• Alacran M+I: 10.46 Mt with 27.4 Moz Ag
• Promontorio resources: 2.9 Mt at 1.4% Cu
• Includes fully permitted 1,000 tpd Oposura project and equipment

Negative

• Cash consideration of $25M may pressure liquidity until financing
• Closing subject to definitive agreements; LOI not a guaranteed closing
• Sara Alicia project excluded from the Agreement pending separate discussions

BISHOP, CA / ACCESS Newswire / March 26, 2026 / North Bay Resources, Inc. (the "Company" or "North Bay") (OTCID:NBRI) is pleased to announce it has entered a binding Letter of Intent (the "Agreement") to acquire a 100% interest in Bendito Resources, Inc. ("Bendito"). Bendito is a privately held corporation with a portfolio of assets located primarily in the State of Sonora, Mexico, proximate to Hermasillo and within driving distance of Tucson, AZ.

The Agreement covers a portfolio of assets as follows:

OPOSURA Zn-Ag-Pb

Oposura is a fully permitted 1000tpd, construction ready 908 hectare project. There have been 308 holes drilled to date and 500tpd capacity of mining and milling equipment, having been previously acquired, are inclusive in the Agreement. A NI 43-101 compliant Preliminary Economic Assessment completed by mine engineering company Forte Dynamics in 2024 reports the following:

Measured + Indicated

	Ore Tonnes (kt)	Zn Grade (%)	Pb Grade (%)	Ag Grade (g/t)	Zn Tonnes (kt)	Pb Tonnes (kt)	Ag (koz)
East	965	3.15	2.09	13.64	30	20	423
West	497	4.43	1.74	13.84	22	9	221
Underground	221	13.72	3.87	62.59	30	9	445
Total	1,683	4.92	2.22	20.13	83	37	1,089

Inferred

	Ore Tonnes (kt)	Zn Grade (%)	Pb Grade (%)	Ag Grade (g/t)	Zn Tonnes (kt)	Pb Tonnes (kt)	Ag (koz)
East	145	5.62	3.58	33.80	8	5	158
West	441	4.91	1.31	13.01	22	6	184
Underground	54	9.92	2.82	57.66	5	2	101
Total	640	5.18	2.04	19.55	35	12	443

ALACRAN Ag-Au-Cu

The Alacran Project is an advanced exploration phase project of 5,433 hectares with 48,903 meters of drilling in 306 holes to date. Alacran is located 17km South of the Buenavista Cu-Zn-Ag Mine, operated by Grupo Mexico; one of the largest copper mines in the world with 9Bt in reserves. A JORC compliant Mineral Resource Estimate completed by Amec Foster Wheeler (2017) and subsequently reviewed and reported in a NI 43-101 compliant Technical Report by Mine Technical Services (2022) provides the following:

Mesa de Plata Deposit

Category	Zone	Tonnes	Silver
			Ag Grade (g/t)	Contained Ag (Moz)
Measured	High-grade (90)	1.21	307.4	12.0
	Mid-grade (20)	8.43	43.0	11.7
	Subtotal	9.64	76.2	23.6
Indicated	High-grade (90)	0.54	201.7	3.5
	Mid-grade (20)	0.28	36.2	0.3
	Subtotal	0.82	145.4	3.8
Total M+I	High-grade (90)	1.75	274.7	15.5
	Mid-grade (20)	8.71	42.8	12.0
	Grand Total	10.46	81.6	27.4

Loma Bonita Deposit

Category	Tonnes	Gold		Silver
		Au Grade (g/t)	Contained Au (koz)	Ag Grade (g/t)	Contained Ag (Moz)
Indicated	4.20	0.95	128.5	30.1	4.07
Inferred	1.20	0.60	22.0	18.0	0.7

In addition to the above advanced deposits, a number of additional deposits exist on the property including the Cerro Alacran Porphyry.

PROMONTORIO Cu-Au

The Promontorio Project is located in Chihuahua State. Promontorio is an advanced exploration phase project totalling 10,699 hectares. A JORC compliant Mineral Resource Estimate was completed by AGP Mining Consultants (2015) adding the Cascada Deposit to their previous Mineral Resource Estimate for the Promontorio Deposit (2013) as follows:

Promontorio and Cascada Deposit

Deposit	Tonnes	Cu Grade (%)	Au Grade (g/t)	Ag Grade (g/t)	Cu Tonnes	Au Ounces	Ag Ounces
Promontorio	840,000	2.5	1.6	56	20,800	43,800	1,500,000
Cascada	2,060,000	0.9	1.6	27	18,800	107,200	1,760,000
Total	2,900,000	1.4	1.6	35	39,600	151,000	3,260,000

Additional Projects

There are five additional properties in the portfolio:

• Tecolote - Cu-Zn-Ag-Au

• San Agustin - Au-Ag

• Panchita - Au

• Telix - Graphite

• Sara Alicia - Au

The Sara Alicia project is currently excluded from the Agreement due to a prior exploration agreement, discussions remain ongoing at this time.

Acquisition

Terms of the Acquisition are as follows:

One time cash payment of $25,000,000 for a 100% interest in Bendito, debt free.

Corporate Update

Operations at the Company's Bishop Gold Mill recommenced in March with the processing of a test shipment of ore grading 3.38opt Au from the Company's Fran Gold Project. A concentrate delivery was completed March 25^th at Reno, NV with settlement pending.

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.

SOURCE: North Bay Resources, Inc

View the original press release on ACCESS Newswire

FAQ

How much is North Bay Resources (NBRI) paying to acquire Bendito Resources on March 26, 2026?

North Bay is paying a one-time cash consideration of $25,000,000 for 100% of Bendito Resources. According to the company, the purchase is for a debt-free acquisition and is structured under a binding Letter of Intent announced March 26, 2026.

What key assets does North Bay (NBRI) acquire from Bendito, and what are their resource sizes?

The deal includes Oposura, Alacran, Promontorio, and five additional properties including Tecolote and Panchita. According to the company, Oposura M+I totals 1,683 kt, Alacran M+I 10.46 Mt (≈27.4 Moz Ag), Promontorio 2.9 Mt.

What is the status of the Oposura project included in North Bay's (NBRI) acquisition of Bendito?

Oposura is described as a fully permitted, construction-ready project with 1,000 tpd capacity and 500 tpd equipment included. According to the company, 308 drill holes exist and a 2024 NI 43-101 PEA supports the resource metrics provided.

Will the Bendito acquisition affect North Bay Resources' (NBRI) mill operations and immediate cash flow?

North Bay has restarted operations at its Bishop Gold Mill and processed a test shipment in March. According to the company, a concentrate delivery occurred March 25 with settlement pending, while the acquisition requires the $25M cash payment.

Is the Sara Alicia project part of North Bay's (NBRI) Bendito acquisition announced March 26, 2026?

Sara Alicia is currently excluded from the Agreement and not part of the transaction. According to the company, discussions about Sara Alicia remain ongoing due to a prior exploration agreement.

What due diligence or technical reports support the resource claims in North Bay's (NBRI) Bendito acquisition?

Resources are supported by NI 43-101 and JORC technical work, including a 2024 PEA for Oposura and reports by Mine Technical Services and AGP. According to the company, these reports underpin the stated M+I and inferred figures.