North Bay Resources Announces X-Ray Silver Mine 50/50 JV with Past Production Grading 1,072 Ounces per Ton Silver, Lander County, Nevada
North Bay Resources (OTC: NBRI) has entered into a significant 50/50 joint venture agreement with Toiyabe Kona Exploration for the Silver Strike Concessions in Lander County, Nevada. The property includes the historic X-Ray Mine, which reported exceptional silver grades of 1,072 ounces per ton during past production.
The joint venture terms require NBRI to process 20,000 ounces of silver or 7,500 tons of material within specified timeframes, or invest $300,000 in development to earn their 50% interest. The company will serve as the operator and plans immediate exploration activities.
Additionally, NBRI announced plans to begin ore shipments from its Fran Gold Project to its Bishop, California mill, with the project containing an estimated 474,000 ounces of gold. The company is also implementing a 1:100 reverse share split as part of its OTCQB uplisting strategy.
North Bay Resources (OTC: NBRI) ha stipulato un importante accordo in joint venture 50/50 con Toiyabe Kona Exploration per le concessioni Silver Strike nella contea di Lander, Nevada. La proprietà comprende la storica X-Ray Mine, che in passato ha registrato eccezionali tenori d'argento di 1.072 once per tonnellata durante la produzione.
I termini della joint venture impongono a NBRI di trattare 20.000 once di argento o 7.500 tonnellate di materiale entro scadenze prestabilite, oppure di investire 300.000 $ in sviluppo per acquisire il 50% della partecipazione. La società sarà l'operatore e prevede attività esplorative immediate.
Inoltre, NBRI ha annunciato l'avvio delle spedizioni di minerale dal Fran Gold Project al suo impianto di Bishop, California; il progetto contiene una stima di 474.000 once d'oro. La società attuerà anche un raggruppamento azionario 1:100 come parte della strategia per la quotazione su OTCQB.
North Bay Resources (OTC: NBRI) ha firmado un importante acuerdo de joint venture 50/50 con Toiyabe Kona Exploration para las concesiones Silver Strike en el condado de Lander, Nevada. La propiedad incluye la histórica X-Ray Mine, que en producción pasada reportó excepcionales leyes de plata de 1.072 onzas por tonelada.
Los términos de la joint venture exigen que NBRI procese 20.000 onzas de plata o 7.500 toneladas de material en plazos específicos, o que invierta 300.000 $ en desarrollo para ganar su 50% de interés. La compañía será la operadora y planea actividades de exploración inmediatas.
Además, NBRI anunció el inicio de envíos de mineral desde su Fran Gold Project a su planta en Bishop, California; el proyecto contiene un estimado de 474.000 onzas de oro. La compañía también implementará una consolidación de acciones 1:100 como parte de su estrategia de ascenso a OTCQB.
North Bay Resources (OTC: NBRI)는 Toiyabe Kona Exploration과 네바다 주 랜더 카운티의 Silver Strike 광구에 대해 50/50 합작 투자 계약을 체결했습니다. 이 광구에는 과거 생산 시 1,072온스/톤이라는 뛰어난 은 함량이 보고된 역사적인 X-Ray Mine이 포함되어 있습니다.
합작 조건에 따라 NBRI는 정해진 기한 내에 은 20,000온스 또는 물질 7,500톤을 처리하거나, 50% 지분을 얻기 위해 30만 달러를 개발에 투자해야 합니다. 회사는 운영사를 맡고 즉시 탐사 활동을 계획하고 있습니다.
또한 NBRI는 Fran Gold Project에서 캘리포니아 비숍에 있는 자사 공장으로 광석 반출을 시작할 계획이라고 발표했으며, 해당 프로젝트에는 약 474,000온스의 금이 추정되어 있습니다. 회사는 OTCQB 상장 전략의 일환으로 1:100 주식 액면병합도 시행할 예정입니다.
North Bay Resources (OTC: NBRI) a conclu un accord majeur de coentreprise 50/50 avec Toiyabe Kona Exploration pour les concessions Silver Strike dans le comté de Lander, Nevada. La propriété inclut la historique X-Ray Mine, qui avait déclaré des teneurs en argent exceptionnelles de 1 072 onces par tonne lors de productions antérieures.
Les termes de la coentreprise exigent que NBRI traite 20 000 onces d'argent ou 7 500 tonnes de matériau dans des délais spécifiés, ou investisse 300 000 $ en développement pour obtenir sa participation de 50 %. La société sera l'opérateur et prévoit des activités d'exploration immédiates.
De plus, NBRI a annoncé le début des expéditions de minerai depuis son Fran Gold Project vers son moulin de Bishop, Californie ; le projet contient environ 474 000 onces d'or estimées. La société mettra également en place une division d'actions 1:100 dans le cadre de sa stratégie de montée sur l'OTCQB.
North Bay Resources (OTC: NBRI) hat eine bedeutende 50/50-Joint-Venture-Vereinbarung mit Toiyabe Kona Exploration für die Silver Strike Konzessionen im Lander County, Nevada, abgeschlossen. Zum Gebiet gehört die historische X-Ray Mine, die in früherer Produktion außergewöhnliche Silbergehalte von 1.072 Unzen pro Tonne meldete.
Die Joint-Venture-Bedingungen verlangen von NBRI, innerhalb festgelegter Fristen 20.000 Unzen Silber oder 7.500 Tonnen Material zu verarbeiten, oder 300.000 $ in die Erschließung zu investieren, um den 50%-Anteil zu erwerben. Das Unternehmen wird Betreiber sein und plant sofortige Erkundungsaktivitäten.
Zusätzlich kündigte NBRI an, Erzmengen aus dem Fran Gold Project zu seiner Aufbereitungsanlage in Bishop, Kalifornien, zu versenden; das Projekt enthält schätzungsweise 474.000 Unzen Gold. Das Unternehmen führt außerdem im Rahmen der OTCQB-Aufstiegsstrategie eine Aktienzusammenlegung 1:100 durch.
- Exceptional historical silver grades of 1,072 oz/ton at X-Ray Mine
- Fran Gold Project contains estimated 474,000 ounces of gold
- Strategic 50/50 JV structure with flexible earn-in terms
- Secured favorable rail rate of $220/tonne for ore transportation
- Progress toward OTCQB uplisting with PCAOB audit underway
- Significant 1:100 reverse stock split planned, affecting share structure
- Non-compliant resource estimate (non-NI-43-101) for Fran Gold Project
- High capital requirements with $300,000 development commitment
- No modern systematic exploration completed on the Nevada properties
BISHOP, Calif., Sept. 08, 2025 (GLOBE NEWSWIRE) -- North Bay Resources, Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has entered into a 50/50 Joint Venture (the “Joint Venture”) earn-in agreement with Toiyabe Kona Exploration, LLC. (the “JV Partner”), regarding the Silver Strike Concessions (the “Concessions” or “Property”), located in Lander County, Nevada. The Concessions include the past producing X-Ray Mine, OK Mine, Dudley-B Shaft and nearby workings with reported grades from production as follows (USGS Bulletin 997):
| Mine | Au Opt | Ag Opt |
| X-Ray Mine | - | 1,072 |
| OK Mine | 0.13 | 750 |
| Dudley-B Shaft | 2.17 | 500 |
Reese River District History
Historical production of the Reese River District during its initial years of operation 1865-1891 are reported as 1,527,994 tons valued at
It is reported in official reports that mines in the area were not abandoned as a result of depletion but that lower grade material of less than 100 ounces per ton silver was left at the lower levels in favor of high-grade material both locally and subsequently in other districts as discoveries occurred. A drop in the price of silver in the 1890’s led to large scale production stoppage, while a later significant return to production occurred, with recovery in the price of silver, the area had fallen out of favor and limited new exploration and development occurred. At the Lander Hill area proximate to Austin, Nevada, grades greater than 500 ounces per ton silver were common and 1000-5000 ounces per ton not unusual. The area has received little attention in the modern era beyond evaluation of mine dumps and stockpiles which received attention during the 1970’s. There is over a hundred thousand tons of material at the X-Ray Mine and multiple other dump piles on the Concessions which will be evaluated as part of the overall development effort both for ore grade potential as well as an indicator of previous silver production values and grade in the associated mines. There has been no systematic exploration or development of the mines or area in the modern era.
X-Ray Mine
Drifts and crosscuts at the X-Ray Mine are reported to total several thousand feet in length, driven at different levels from a shaft 400 feet deep. These workings followed two distinct veins North and North-east along a dyke that is conspicuous at surface and was followed 1000 feet on the 200 level. Ore is reported (1918) to have contained 1,072 ounces of silver with ore shipments reportedly valued at
OK Mine
At the OK Mine a 300 foot incline is reported to have been driven along a vein that can be traced on surface for 600 feet. The vein is reported to be oxidized down to the 200 foot level and assay from the hanging wall at the 300 foot level is reported (1915) as 750 ounces of silver per ton and 0.13 ounces of gold. (USGS Bulletin 997)
Dudley B Shaft
The Dudley B Shaft is reported to be 90 feet deep with limited production from a quartz vein grading 500 ounces per ton silver and 2.17 ounces per ton gold (1908). As with the other mines, the mineralized veins are associated with lamprophyre dykes that generally trend North and are steeply dipping. (USGS Bulletin 997)
Exploration and Development
The immediate focus is the identification of remaining mid and high-grade material in surface dykes, extensions and at depth of known veins, discovery of new veins due to the prolific nature of the area, as well as bulk tonnage low grade material through-out the area and in the existing mines and adits. Any available ore will be shipped to the Company’s Bishop, California Mill for processing. The Company will have crews on site as soon as next week for geochemical sampling of dumps, outcrops, and tunnels, geological mapping, and infrastructure assessment of existing portals, tunnels and shafts. The Company expects to commence a property wide geophysical survey shortly and continues to actively acquire mineral claims in the area.
Joint Venture Agreement
Terms of the Joint Venture are as follows:
a. Phase I: Complete the mining, milling, and processing of ten thousand (10,000) ounces of silver or silver equivalent, or two thousand five hundred (2,500) tons of material, within twelve (12) months of the commencement of this phase.
b. Phase II: Complete the mining, milling, and processing of an additional ten thousand (10,000) ounces of silver or silver equivalent, or an additional five thousand (5,000) tons of material, within twenty-four (24) months of the commencement of this phase.
The fifty percent (
Fran Gold Ore Shipments
The Company has begun mobilization to its Fran Gold Project and will have crews on-site on or about September 15th for ore shipments to its Bishop, California Gold Mill. Development will continue in the area of successful test mining in July 2025 (see Press Release dated August 8, 2025). The Company has received a recent quotation for a long-term rail rate from its logistics agent of
The Fran Gold Project, with over 18,000m (55,000ft.) of drilling in 104 holes, is currently estimated (non-NI-43-101) to contain 474,000 ounces of mixed high grade surface oxide and vein gold and disseminated low grade bulk tonnage gold. The Fran Gold Project is proximate to Centerra Gold’s Mt. Milligan Project, with Reserves of 264Mt grading 0.3 gram per tonne gold and
Corporate Update
The Company advises shareholders that the previously approved and announced reverse share split is being implemented as part of meeting OTCQB, or an equivalent exchange, uplisting requirements, and to better position the Company in the retail and institutional investment markets. The Company has instructed its transfer agent to begin the process of consolidating its outstanding shares on a 1:100 basis and will continue to advise shareholders on milestones and timing prior to final implementation. With the exception of a single
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
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 are the historical silver grades reported at North Bay Resources' X-Ray Mine (NBRI)?
What are the terms of NBRI's joint venture agreement for the Silver Strike Concessions?
How many ounces of gold are estimated at North Bay Resources' Fran Gold Project?
What is the planned reverse stock split ratio for NBRI stock?
What is the rail transportation cost for NBRI's ore shipments?
