SKIPPACK, PA -- (
Marketwire - Dec 22, 2011) -
North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that Ruby Gold, Inc., a wholly-owned subsidiary of North Bay, has received notice that its revised Ruby Mine Reclamation Plan has been formally approved by the Sierra County Planning Department ("SCPD"), and has satisfied all Conditions of Approval ("COA's"), as amended, previously issued by SCPD as well as the California Department of Conservation Office of Mining Reclamation ("OMR").
As previously announced in a Ruby Mine progress report on October 3, 2011, an updated and revised Reclamation Plan was completed in late September and subsequently submitted to SCPD and OMR for review and approval.
In a letter dated December 21, 2011, SCPD states "you have satisfied your requirements under the Surface Mining and Reclamation Act (SMARA) and Part 33 of the Sierra County Code on Surface Mining and Reclamation, and are hereby authorized to proceed with mining operations under the approved Reclamation Plan, subject to the requirements and conditions of the USFS's approved Plan of Operations and all other applicable federal, state and local permits and regulations."
The Company notes that the United States Forest Service ("USFS") previously approved the updated Plan of Operations for the Ruby Mine on February 16, 2011, and has authorized its renewal through December 31, 2018. In addition, the mine has an order of Waste Discharge Requirements in place with the State Water Resources Control Board. These three permits combined are the primary regulatory authorizations that will allow the Ruby Mine to begin mining operations.
The revised Reclamation Plan includes an expansion of the tailings area, which is expected to provide enough capacity to support mining operations for at least another 5 to 7 years before another expansion will need to be considered. The revised Reclamation Plan is effective through April 16, 2018.
North Bay CEO Perry Leopold commented, "I would like to thank the Sierra County Planning Department and OMR for expediting their review of our revised reclamation plan in a timely fashion. I would also like to especially thank Tom Knoch and GeoSolutions for their excellent work in preparing the revised reclamation plan in a comprehensive and professional presentation that satisfied all regulatory requirements as set forth in the California SMARA statutes, and which laid the firm foundation for this regulatory approval."
About GeoSolutions
GeoSolutions offers professional consulting services in the technical fields of geology, geological engineering, hydrogeology, and environmental engineering. All available services are performed under direct supervision of Thomas J. Knoch, a California State Registered Professional Geologist, Certified Engineering Geologist, Certified Hydrogeologist, and Registered Environmental Assessor. Mr. Knoch is also registered as a geologist in the states of Arizona, Missouri, and Kansas. The company clientele has included government agencies and research institutes, and firms in the agricultural, construction, logging, mining, petroleum and recreational industries.
About The Ruby Gold Project
The Ruby Mine, a/k/a the Ruby Gold Project, is a fully-permitted underground placer and lode mine located near Downieville in Sierra County, California that is known to have produced over 250,000 ounces of gold since the 1850's, and which is considered to be part of the northern extension of the historic Mother Lode system. The Ruby Property covers approximately 1,755 acres, consisting of the subsurface mineral rights of two patented claims totaling approximately 435 acres and 30 unpatented claims containing approximately 1,320 acres. The equipment, fixed assets, and infrastructure in place include a 1,000 yard per day placer wash plant, 50-ton per day quartz mill, 6,000 feet of tracked haulage, and related support equipment needed for underground mining operations. The property also features an excellent system of roads, is accessible via paved highway from Reno or Sacramento, has abundant water and timber available for mining purposes, and has PG&E power available on-site. For further information about the Ruby Mine, please visit the Ruby page on the North Bay website at
www.northbayresources.com/ruby/.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.
In the US, the Company has acquired the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
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.
Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at www.sec.gov/edgar.shtml
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
www.northbayresources.com
