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North Bay Acquires Argo Gold Property
SKIPPACK, PA -- (Marketwire) -- 12/01/08 -- North Bay Resources Inc. (PINKSHEETS: NBRI)("North Bay" or the "Company") is pleased to announce that it has acquiredthe Argo Gold Property in southwestern British Columbia, Canada.
The Argo Gold Property is located 10 kilometres west of the south end ofTatlayako Lake, approximately 168 miles northwest of Vancouver. It covers1,292 acres, and includes ten reverted crown grants. The mineralized areaof economic interest covers several square kilometres immediately south ofOttarasko Creek. The strike length is estimated as being at least 3kilometres long, and is up to 300 metres in width. The target prospectsare known as the Langara, the Standard, and the Argo.
On the Langara prospect, government records contained in MINFILE 092N 036show that the typical average assay of chip samples taken across the widthsof veins and adit zones is 6 grams per tonne gold and 70 grams per tonnesilver. BC Assessment Report 16959 also documents that one quartz veingrab sample assayed 26.75 grams per tonne gold and 39.5 grams per tonnesilver. Another grab sample documented in the same report assayed 2.52percent copper, 3.13 percent zinc and 0.33 percent lead, although highvalues of these base metals are reported to be very sporadic.
On the Standard prospect, the mineralization is described in governmentrecords as "massive," with assays of up to 19.2 grams per tonne gold and20.6 grams per tonne silver (MINFILE 092N 037).
Typical samples from the namesake Argo prospect averaged 8 grams per tonnegold, 34 grams per tonne silver, and up to 0.43 percent copper (MINFILE092N 038; Assessment Reports 16959, 17980).
The Argo Gold Property was located, staked, and acquired independently bycompany personnel utilizing MTO and GPS technology.
About North Bay Resources Inc.
North Bay Resources Inc. engages in the acquisition, management, anddevelopment of precious metal and other mining properties. By combiningstate-of-the-art technology with traditional acquisition targeting, thecompany's mission is to build a portfolio of viable mining prospectsthroughout the world and developing them through its subsidiaries andpartners to their full economic potential.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements withinthe meaning of Section 27A of the Securities and Exchange Act of 1933, asamended, and Section 21E of the Securities and Exchange Act of 1934, asamended, which are intended to be covered by the safe harbors createdthereby. Investors are cautioned that all forward-looking statementsinvolve risks and uncertainties. Although North Bay Resources Inc. believesthat the assumptions underlying the forward-looking statements containedherein are reasonable, any assumption could be inaccurate, and therefore,there can be no assurance that the forward-looking statements included inthis press release will prove to be accurate. In light of the significantuncertainties inherent in the forward-looking statements included herein,the inclusion should not be regarded as a representation by North BayResources Inc. or any other person that the objective and plans of NorthBay Resources Inc. will be achieved.
Contact:Perry LeopoldCEONorth Bay Resources Inc.215-661-1100http://www.northbayresources.com
On the Langara prospect, government records contained in MINFILE 092N 036show that the typical average assay of chip samples taken across the widthsof veins and adit zones is 6 grams per tonne gold and 70 grams per tonnesilver. BC Assessment Report 16959 also documents that one quartz veingrab sample assayed 26.75 grams per tonne gold and 39.5 grams per tonnesilver. Another grab sample documented in the same report assayed 2.52percent copper, 3.13 percent zinc and 0.33 percent lead, although highvalues of these base metals are reported to be very sporadic.
On the Standard prospect, the mineralization is described in governmentrecords as "massive," with assays of up to 19.2 grams per tonne gold and20.6 grams per tonne silver (MINFILE 092N 037).
Typical samples from the namesake Argo prospect averaged 8 grams per tonnegold, 34 grams per tonne silver, and up to 0.43 percent copper (MINFILE092N 038; Assessment Reports 16959, 17980).
The Argo Gold Property was located, staked, and acquired independently bycompany personnel utilizing MTO and GPS technology.
About North Bay Resources Inc.
North Bay Resources Inc. engages in the acquisition, management, anddevelopment of precious metal and other mining properties. By combiningstate-of-the-art technology with traditional acquisition targeting, thecompany's mission is to build a portfolio of viable mining prospectsthroughout the world and developing them through its subsidiaries andpartners to their full economic potential.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements withinthe meaning of Section 27A of the Securities and Exchange Act of 1933, asamended, and Section 21E of the Securities and Exchange Act of 1934, asamended, which are intended to be covered by the safe harbors createdthereby. Investors are cautioned that all forward-looking statementsinvolve risks and uncertainties. Although North Bay Resources Inc. believesthat the assumptions underlying the forward-looking statements containedherein are reasonable, any assumption could be inaccurate, and therefore,there can be no assurance that the forward-looking statements included inthis press release will prove to be accurate. In light of the significantuncertainties inherent in the forward-looking statements included herein,the inclusion should not be regarded as a representation by North BayResources Inc. or any other person that the objective and plans of NorthBay Resources Inc. will be achieved.
Contact:Perry LeopoldCEONorth Bay Resources Inc.215-661-1100http://www.northbayresources.com
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