SKIPPACK, PA -- (
Marketwire - March 11, 2011) -
North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that it has engaged Mr. Theodore A. DeMatties, P.Geo, as a consulting geologist.
Mr. DeMatties will be assisting the Company in the ongoing evaluation and appraisal of prospective production-ready mining projects in the western United States, with a particular focus on properties in Nevada that can be acquired and brought into production in the near-term. Mr. DeMatties will also be assisting the Company in identifying and facilitating additional joint-venture partners for the Company's projects in British Columbia.
Mr. DeMatties holds B.S. and M.A. degrees in Geology from the State University of New York in Oneonta, and has also done graduate work in Geology at Oregon State University. As a Registered Professional Geologist, Mr. DeMatties is a seasoned exploration geologist with over 34 years of experience in the US and Canada, and is a Qualified Person as defined by National Instrument 43-101. Recent projects include managing an advanced multimillion dollar copper-nickel-PGM project in northeastern Minnesota, consulting on several gold, iron-oxide-copper-gold (IOCG) properties in Nevada, and on volcanogenic massive sulfide (VMS) properties in North America. Prior to these engagements, he was a consultant to WMC Exploration and Falconbridge U.S. on copper-nickel-PGM exploration programs in the upper Midwest, and INCO for an iron oxide-copper-gold (IOCG) project in the western U.S.
A full recitation of Mr. DeMatties' professional experience and credentials, including the terms of the engagement with North Bay, is set forth in the exhibit to the Company's Current Report on Form 8-K filed with the United States Securities and Exchange Commission ("SEC") on March 10, 2011.
"We are extremely pleased to have someone of Ted's experience and caliber assisting our efforts to acquire additional operating mines in the US," states Perry Leopold, CEO of North Bay. "Ted's extensive experience and knowledge of the western US in particular will be of enormous value to us as we continue to conduct due diligence and move forward in our project evaluations."
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 holds an option to acquire 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 http://www.sec.gov/edgar.shtml
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
