North Bay Resources Inc (NBRI)

[Captain Black Bob Blanco]

Item 1.02 Termination of a Material Definitive Agreement

"In a letter dated January 13, 2017, the Registrant was formally noticed by Ruby Development Company (“RDC”) that effective December 31, 2016, RDC has exercised its security interest and taken possession of its collateral, Ruby Gold, Inc. ("RGI"), including without limitation all of RGI’s assets and liabilities, pursuant to the default provisions of a Secured Promissory Note between the Registrant and RDC dated"