North Bay Resources Acquires 70% Interest in the Bishop Gold Mill, Inyo County, California

Core Viewpoint - North Bay Resources Inc. has entered into a share purchase agreement to acquire an additional 14.5% of the Bishop Gold Mill, increasing its total ownership to 70% [1][2]. Acquisition Details - The acquisition involves North Bay acquiring a total interest of 70% in 0877887 BC Ltd., which owns the Bishop Gold Mill, through an agreement with CMC Metals Ltd. and 1436132 BC Ltd. [2] - The Bishop Gold Mill has a processing capacity of 96 tons per day and is located north of Bishop, California [1]. Financial Terms - Cash payments for the acquisition include $12,500 payable on signing, $12,500 on February 15, 2025, $12,500 on April 1, 2025, $50,000 on July 7, 2025, $25,000 on August 15, 2025, and $50,000 on September 25, 2025 [5]. - Share payments consist of $200,000 CAD in common shares of North Bay, totaling 155,555,556 restricted shares, subject to a minimum hold period of 1 year [3]. Operational Updates - North Bay has recently installed additional gold extraction equipment, including a centrifuge, based on a metallurgical study showing a 97% recovery of gold with a head grade of 0.9 ounces per ton from its Fran Gold Project [1]. - The company will remain the operator of the Bishop Gold Mill following the completion of the acquisition [3]. Media Agreements - North Bay has entered into a media services agreement with Investing News Network at a rate of $2,500 CAD per month for one year starting March 1, 2025 [4]. - The company has amended its agreement with the Sabean Group for media services, reducing the rate from $20,000 per month to $10,000 per month effective January 1, 2025 [4].