North Bay Resources Acquires 70% Interest in the Bishop Gold Mill, Inyo County, California
North Bay Resources (OTC: NBRI) has announced the acquisition of an additional 14.5% interest in the Bishop Gold Mill in California, increasing its total ownership to 70%. The 96-ton per day mill recently received upgraded gold extraction equipment, including a centrifuge, following a December 2024 metallurgical study showing 97% gold recovery with 0.9 ounces per ton head grade from its Fran Gold Project.
The acquisition involves payments to CMC Metals and 1436132 BC , including staged cash payments totaling $162,500 and a share payment of $200,000 CAD (155,555,556 restricted shares). The shares are subject to a one-year hold period and represent approximately 2% of outstanding shares. Upon completion, CMC will no longer hold security interest in the mill, with North Bay remaining as operator.
North Bay Resources (OTC: NBRI) ha annunciato l'acquisizione di un ulteriore 14,5% di interesse nel Bishop Gold Mill in California, aumentando la sua proprietà totale al 70%. Il mulino, che ha una capacità di 96 tonnellate al giorno, ha recentemente ricevuto attrezzature per l'estrazione dell'oro aggiornate, inclusa una centrifuga, a seguito di uno studio metallurgico condotto a dicembre 2024 che ha mostrato una percentuale di recupero dell'oro del 97% con un grado di testa di 0,9 once per tonnellata dal suo Fran Gold Project.
L'acquisizione prevede pagamenti a CMC Metals e 1436132 BC, compresi pagamenti in contante a fasi per un totale di $162,500 e un pagamento in azioni di $200,000 CAD (155,555,556 azioni in circolazione soggette a restrizioni). Le azioni sono soggette a un periodo di blocco di un anno e rappresentano circa il 2% delle azioni in circolazione. Al termine dell'operazione, CMC non detiene più alcun diritto di sicurezza sul mulino, con North Bay che rimane l'operatore.
North Bay Resources (OTC: NBRI) ha anunciado la adquisición de un 14,5% adicional de interés en el Bishop Gold Mill en California, aumentando su propiedad total al 70%. El molino, con una capacidad de 96 toneladas por día, recientemente recibió equipo de extracción de oro actualizado, incluyendo una centrífuga, tras un estudio metalúrgico realizado en diciembre de 2024 que mostró una recuperación del oro del 97% con un grado de cabeza de 0,9 onzas por tonelada de su Fran Gold Project.
La adquisición implica pagos a CMC Metals y 1436132 BC, incluyendo pagos en efectivo escalonados que totalizan $162,500 y un pago en acciones de $200,000 CAD (155,555,556 acciones restringidas). Las acciones están sujetas a un período de retención de un año y representan aproximadamente el 2% de las acciones en circulación. Al finalizar, CMC ya no tendrá ningún interés de seguridad en el molino, y North Bay seguirá siendo el operador.
North Bay Resources (OTC: NBRI)는 캘리포니아의 Bishop Gold Mill에서 14.5%의 추가 지분을 인수했다고 발표했습니다. 이에 따라 총 소유 비율은 70%로 증가했습니다. 하루 96톤 운영되는 이 밀은 최근 2024년 12월에 실시한 금속학적 연구에 따라 0.9온스의 헤드 그레이드로 97%의 금 회수를 보여주는 민감한 장비, 제트기의 설치를 완료했습니다.
이번 인수는 CMC Metals와 1436132 BC에 대한 지급을 포함하며, 이에는 총 $162,500에 달하는 단계적 현금 지급과 $200,000 CAD(155,555,556주 제한적 주식)에 대한 주식 지급이 포함됩니다. 이 주식은 1년의 보유 기간이 있으며, 전체 주식의 약 2%를 차지합니다. 인수가 완료되면 CMC는 밀에 대한 보안 이익을 더 이상 보유하지 않으며, North Bay가 운영자로 남게 됩니다.
North Bay Resources (OTC: NBRI) a annoncé l'acquisition de 14,5% supplémentaires d'intérêt dans le Bishop Gold Mill en Californie, augmentant ainsi sa propriété totale à 70%. Le moulin, qui a une capacité de 96 tonnes par jour, a récemment bénéficié d'un équipement d'extraction d'or amélioré, y compris une centrifugeuse, suite à une étude métallurgique de décembre 2024 montrant un taux de récupération d'or de 97% avec une teneur de 0,9 once par tonne de son Fran Gold Project.
L'acquisition implique des paiements à CMC Metals et 1436132 BC, y compris des paiements en espèces échelonnés d'un total de 162 500 $ et un paiement en actions de 200 000 CAD (155 555 556 actions restreintes). Les actions sont soumises à une période de blocage d'un an et représentent environ 2% des actions en circulation. À la fin de l'opération, CMC ne conservera plus d'intérêt de garantie dans le moulin, North Bay restant l'opérateur.
North Bay Resources (OTC: NBRI) hat die Übernahme eines weiteren 14,5% Anteils an der Bishop Gold Mill in Kalifornien angekündigt, wodurch der gesamte Anteil auf 70% steigt. Die Mühle mit einer Kapazität von 96 Tonnen pro Tag hat kürzlich verbesserte Goldgewinnungsanlagen, einschließlich einer Zentrifuge, erhalten, nachdem eine metallurgische Studie im Dezember 2024 eine Goldrückgewinnung von 97% bei einem Kopfgrad von 0,9 Unzen pro Tonne aus dem Fran Gold Project gezeigt hat.
Die Übernahme beinhaltet Zahlungen an CMC Metals und 1436132 BC, einschließlich gestaffelter Barzahlungen in Höhe von insgesamt 162.500 $ und einer Aktienzahlung von 200.000 CAD (155.555.556 beschränkten Aktien). Die Aktien unterliegen einer einjährigen Haltefrist und machen etwa 2% der ausstehenden Aktien aus. Nach Abschluss wird CMC kein Sicherungsinteresse mehr an der Mühle halten, während North Bay weiterhin als Betreiber fungiert.
- Increased ownership stake in Bishop Gold Mill to 70%
- Recent metallurgical study showed excellent 97% gold recovery rate
- Mill capacity of 96 tons per day
- Installation of new gold extraction equipment completed
- High head grade of 0.9 ounces per ton from Fran Gold Project
- Significant cash payment obligations totaling $162,500 through September 2025
- Share dilution of approximately 2% through issuance of 155,555,556 new shares
- Potential conflict of interest as CEO is shareholder in minority owner company
BISHOP, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- North Bay Resources Inc. (the “Company” or “North Bay”) (OTC: NBRI) is pleased to announce it has entered into a share purchase agreement to acquire an additional
The Company has entered into an agreement with the note holder, CMC Metals Ltd. (TSXV: CMB) (“CMC”), and the current minority owner 1436132 BC Ltd., a private Canadian company, to acquire an additional
Cash Payments:
$12,500 payable on signing$12,500 payable on February 15, 2025$12,500 payable on April 1, 2025$50,000 payable on July 7, 2025$25,000 payable August 15, 2025$50,000 payable September 25, 2025
Share Payments:
$200,000 CAD in common shares of North Bay to be delivered on signing at a foreign exchange rate CAD/USD of$0.70 and share price of$0.00 09 totaling 155,555,556 Restricted Shares subject to a minimum hold period of 1 year and representing approximately2% of shares outstanding.
These are the final payments due under the Purchase Agreement and upon completion CMC will no longer hold a security interest in the Mill. North Bay will remain the Operator. The Company CEO, Jared Lazerson, is the CEO and a shareholder of 1436132 B.C. Ltd, but has no affiliation with CMC.
Corporate Update
The Company has entered an agreement with Investing News Network for media services at a rate of
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
YouTube: North Bay Resources - YouTube
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
FAQ
What percentage ownership does North Bay Resources now have in the Bishop Gold Mill?
What is the processing capacity of the Bishop Gold Mill?
What was the gold recovery rate shown in the December 2024 metallurgical study?
What are the payment terms for NBRI's acquisition of additional mill ownership?
What recent equipment upgrades were made to the Bishop Gold Mill?
