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Nov. 14, 2012 /PRNewswire/ -- North Bay Resources, Inc. (OTCQB: NBRI), a fully reporting junior mining company with more than 150 mineral and placer claims on some 60,000 acres throughout
British Columbia, Canada, said today its President & CEO,
Perry Leopold, was interviewed by analyst
Francis Gaskins about the Company's business strategies, accomplishments and future plans.
The entire interview is available at:
http://gaskinsco.com/nbri.mp3 In the interview, the President and CEO discusses the near-term and the longer term strategy, including receiving significant royalties based on the production at these mines. "The ultimate idea is to try to have as many properties under contract as possible, each one with a near-term revenue stream that amounts to a virtual annuity with a steady cash flow," Mr. Leopold said.
Additional information on these properties and their status is available at the Company's web site:
www.northbayresources.com . Mr. Leopold explained that the Company's business strategy, also explained in detail at the web site, is to achieve both short and long term revenues without massive dilution of its shareholders.
In the interview,
North Bay's CEO also discussed the tremendous potential of the Ruby Gold Mine in
California, which the Company purchased and where tunnel rehabilitation is currently occurring. Mr. Leopold explained that the well-known mine was producing gold up until World War II, when the Federal government shut down production. "Once the price of gold topped
$600 an ounce, this mine became profitable again. Our geologist believes there are 135,000 ounces of gold available to North Bay Resources within the current infrastructure and perhaps 500,000 ounces of gold within the five miles of unmined channels at the mine. Further there is significant acreage at this
California mine which has not been explored. The upside is tremendous," Mr. Leopold concluded.
About North Bay Resources Inc.
The mission of North Bay Resources Inc. is to build a portfolio of viable mining prospects throughout the world and develop 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.