North Bay Resources Announces Physical Gold + Shares Unit Financing

Rhea-AI Summary

North Bay Resources (OTC:NBRI) has announced a private placement offering targeting verified accredited investors. The offering consists of units priced at $0.001 USD per unit, comprising 60% common shares and 40% physical gold from company production, aiming to raise up to $1,000,000 USD.

For every $10,000 investment, investors receive 10,000,000 shares and 1.3 ounces of gold. The post-closing valuation is expected to be approximately $5.5 million USD. The company plans to use proceeds primarily for working capital and gold production at their 96-ton-per-day Bishop Gold Mill and various mining projects, including the Fran Gold Project which has a non-NI 43-101 resource estimate of 474,001 ounces of gold.

Positive

• Unique offering combining physical gold and shares provides direct exposure to gold production
• Company owns multiple mining assets including 70% of Bishop Gold Mill and stakes in various gold projects
• Fran Gold Project shows significant resource potential with 474,001 oz gold estimate
• Strategic location near major mines including Centerra Gold's Mt. Milligan and Artemis Gold's Blackwater

Negative

• Resource estimate is non-NI 43-101 compliant, indicating lower reliability
• Significant dilution for existing shareholders with units priced at $0.001
• Company is not a reporting issuer in Canada and trades on OTC markets, suggesting higher risk
• Post-money valuation of only $5.5M indicates early-stage development status

BISHOP, Calif., June 27, 2025 (GLOBE NEWSWIRE) -- North Bay Resources, Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce a private placement offering to residents of the United States (and globally as Canadian and non – United States Accredited Investors) who qualify as verified accredited investors pursuant to Rule 506(c) and Regulation D under the United States Securities Act of 1933. All US subscribers must complete and return the accreditation form and sufficient supporting information in order to satisfy Rule 506(c) under Regulation D.

The offering is for a Unit consisting of 60% Common Shares of North Bay and 40% physical gold from production by North Bay. Each Unit will be issued at a price of $0.001 USD per Unit for gross proceeds of up to $1,000,000 USD (the “Offering”). This equates to 10,000,000 shares and 1.3 ounces of gold per $10,000 investment. Assuming the Offering is fully subscribed, the post-closing valuation of the Company will be approximately $5,500,000 USD. The net proceeds from the Offering will be used primarily for working capital, specifically for gold production.

The Offering is expected to close on or before July 31, 2025. No commissions or agent fees will be paid as part of the financing. The Company has contracted the services of Issuance.com to provide the online platform including 506c accreditation verification for US subscribers.

The securities being offered by the Company have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

The Company is not a reporting issuer in any province or territory in Canada and its securities are not listed on any stock exchange in Canada.

For further information please go to https://invest.northbay-resources.com/ or contact the Company at invest@northbay-resources.com.

North Bay Resources

The Company owns and operates the 96 ton per day Bishop Gold Mill (70%) located in Bishop, California and the Fran Gold (50%), Murex Copper-Gold (100%), Copper Island (100%), and Tulameen Platinum (100%) Projects. The Fran Gold Project includes a recently discovered bulk tonnage deposit and associated resource estimate. As a result, 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 existing stockpiles and the high grade surface oxide zone with consistent grades of 0.5 ounce per ton, exploration will now occur to further expand the known mineralized zone with current resource estimate (non-NI 43-101) as follows:

Bullion Alley - Main Zone
Mass (tonnes)	Average (g/t)	Total (grams)	Total (tr. ounces)
20,035,146	0.50	10,051,730	323,170

Bullion Alley - Main Zone + East Extension
Mass (tonnes)	Average (g/t)	Total (grams)	Total (tr. ounces)
43,797,234	0.34	14,743,070	474,001

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 1000m x 100m x 300m within a known strike length of 1700m. 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

Cautionary Statement: This news release contains “forward-looking information” within the meaning of the applicable securities regulations that is based on expectations, estimates, projections, and interpretations as of the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the size and use of proceeds of the Offering, the timing and ability of the Company to close the Offering, if at all, and the potential for the Company to achieve its stated objectives and/or meet expectations are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of the management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking information.

Although the forward-looking information contained in this news release is based upon what the Company’s management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure prospective purchasers of the offered securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person associated with the Company assumes responsibility for the accuracy and completeness of any such forward-looking information.

The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

FAQ

What are the terms of North Bay Resources (NBRI) private placement offering in 2025?

The offering consists of units priced at $0.001 USD, comprising 60% common shares and 40% physical gold, aiming to raise up to $1 million USD. Each $10,000 investment yields 10,000,000 shares and 1.3 ounces of gold.

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

The Fran Gold Project has a non-NI 43-101 compliant resource estimate of 474,001 troy ounces of gold at an average grade of 0.34 g/t in the Main Zone plus East Extension.

How will North Bay Resources use the proceeds from the 2025 offering?

The net proceeds will be used primarily for working capital, specifically focused on gold production at their operations.

What assets does North Bay Resources (NBRI) own?

NBRI owns 70% of the Bishop Gold Mill (96 ton/day capacity), 50% of Fran Gold Project, 100% of Murex Copper-Gold, 100% of Copper Island, and 100% of Tulameen Platinum Projects.

When does the NBRI private placement offering close?

The offering is expected to close on or before July 31, 2025.