North Bay Resources Announces April Gold Concentrate Sales and Mobilization at Fran Gold Project, British Columbia

Core Viewpoint - North Bay Resources, Inc. has successfully completed the final acceptance and settlement of its gold concentrate test shipments from the Fran Gold Project, indicating progress in its operations and potential for increased production capacity [1]. Shipment Results - The total weight of gold concentrate shipments in April 2025 was 667 wet pounds, with shipments 2 and 3 processed at the Bishop Gold Mill [5]. - Shipment 2 had a dry weight of 222 pounds, with an average recovered grade of 0.08 ounces per ton, resulting in a per ton value of $260 [6]. - Shipment 3 had a dry weight of 318 pounds, with an average recovered grade of 0.11 ounces per ton, resulting in a per ton value of $360 [6]. Operational Improvements - Upgrades to the raker/classifier during April improved consistency and reduced material size, leading to better recovery rates in shipment 3, which was within 10% of shipment 1 [6]. - The implementation of a drying circuit reduced moisture content by 60% from 16.20% in shipment 2 to 7.15% in shipment 3 [6]. Future Production Plans - The company aims to ramp up production to 100 tons per week in the short term and achieve full commercial production of 100 tons per day thereafter [6]. - A finalized flotation circuit design includes an additional mixing tank to enhance gold recovery through improved reagent addition [7]. Fran Gold Project Development - Mobilization for further development at the Fran Gold Project is set to begin in early June, focusing on exploration and preparation for additional ore shipments [8]. - The company plans to implement grade control on stockpiles to maximize head grade at the mill and ensure continuous throughput [8]. Resource Estimates - The current resource estimate for the Bullion Alley - Main Zone is approximately 20,035,146 tonnes at an average grade of 0.50 grams per tonne, totaling 323,170 troy ounces [10]. - The Bullion Alley - Main Zone combined with the East Extension has a total resource of 43,797,234 tonnes at an average grade of 0.34 grams per tonne, totaling 474,001 troy ounces [11]. Economic Considerations - Using a gold price of $3,100 per ounce, the gross value in the Main Zone is estimated at $50 per tonne, with mining costs at the nearby Blackwater Gold Mine at $9 per tonne processed [12]. - The company is consulting with mine engineering firms regarding detailed economics and mine planning for the bulk tonnage deposit [12]. Geological Insights - Past exploration has revealed large intercepts of mixed vein and disseminated gold, with the deposit area identified to exceed 1000m x 100m x 300m [13]. - The Fran Gold Project is strategically located near significant mining operations, including Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine, which enhances its potential for resource development [13].