North Bay Resources, Inc. (OTC: NBRI) is pleased to announce a test shipment of 327 lbs. of gold concentrate grading 14.2 ounces per ton has been made from the Bishop Gold Mill to Just Refiners, Reno, NV. The shipment was the result of ongoing optimization of the Mill in February processing ore from its Fran Gold Property. Recent ore runs produced an estimated 2.44 troy ounces of contained gold from approximately 10 tons of ore. This reflects a recovered gold grade of 0.24 ounces per ton. An additional 0.1 ounce of contained gold in low-grade concentrate remained at the Mill. Recovery is currently estimated at approximately 50% overall or 70% of gravity recoverable gold. Metallurgical testing has shown gravity recovery of up to 67% may be achieved with an additional 30% recoverable by flotation. Head grade is estimated at 0.5 ounces per ton but varies considerably at the centrifuge due to gold charging of the ball mill and overflow container due to the inherent density of gold. The gravity circuit is now efficiently processing material and optimization of the jaw crusher, ball mill, centrifuge, and shaker table are now largely complete. The Company is now implementing the flotation circuit and increasing gravity circuit throughput.

The Company reports the following Mill optimization progress:

• Centrifuge grade has been optimized from initial results of 0.5 ounce per ton to 19 ounces per ton, with a weighted average of 13 ounces per ton.
• Double pass centrifuge grade of 45 ounces per ton has been achieved.
• Optimization of gravity circuit has been successful with targeted results achieved in grind size and classification involving residence time in the ball mill, water flow, and residence time in the centrifuge. Final optimization of the gravity circuit is expected to increase overall recovery by up to 17%.
• The flotation circuit is currently being brought on-line to target very fine gold (-200 mesh) and gold in quartz not otherwise recovered by centrifuge or scavenger recovery at the shaker table. Implementation of flotation is expected to increase overall recovery by up to 30%.
• Scavenger recovery at the Diester Table was increased from initial grade of 0.2 ounce per ton to 5.2 ounces per ton, with a weighted average of 2 ounces per ton reflecting approximately 15% of current recovery. The shaker table concentrate is amenable to centrifuge concentration and has been upgraded by up to 10x utilizing secondary upgrading.

Composite shipment assays:

Samples were assayed by fire assay at Just Refiners, Reno, Nevada, (Centrifuge #1 and Table #1) with additional assays completed at ALS Geochemistry Reno, Nevada, utilizing ALS Analytical Procedure Au-GRA22 (Centrifuge #2, Centrifuge #3, and Table #3).

Fran Gold Project 

The Property is 34,360 acres and is located 20 miles from Centerra Gold’s 60,000 tonne per day Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. In addition, samples have assayed up to 1.68% copper and 5.1 troy ounces per ton silver. There is property wide potential for additional discoveries of gold and copper with numerous showings outside of the Bullion Alley Zone. Shipping costs are currently $280 per ton and are expected to significantly decrease starting in April, 2025 with the opening of a new railway siding approximately 30 miles from the mine and designed for loading of ore from nearby mines. Due to the low value of raw ore the Company does not foresee significant impact from tariffs. There is approximately 5,000 tons of surface material available for shipment.