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

Core Viewpoint - CMC Metals Ltd. has entered into a share purchase agreement with North Bay Resources Inc. to acquire an additional 14.5% of the Bishop Gold Mill, increasing NBRI's total ownership to 70% [1][3]. Group 1: Acquisition Details - The Bishop Gold Mill, located north of Bishop, California, has a processing capacity of 96 tons per day [2]. - NBRI has recently installed additional gold extraction equipment, including a centrifuge, which is expected to enhance gold recovery [2]. - A December 2024 metallurgical study indicates a 97% recovery rate of gold from the Fran Gold Project at the Bishop mill, with an estimated head grade of 0.9 ounces of gold per ton [2]. Group 2: Financial Terms - The agreement includes cash payments totaling $200,000 CAD in common shares of North Bay, with a foreign exchange rate of CAD/USD at $0.70, resulting in 155,555,556 restricted common shares of NBRI [5]. - Additional cash payments are scheduled as follows: $12,500 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 [7]. Group 3: Company Overview - CMC Metals Ltd. is focused on the exploration of high-grade silver-lead-zinc critical mineral deposits in Northern British Columbia and Yukon, with key projects including the Silverknife project adjacent to Coeur Mining's Silvertip deposit [8].