$NBRI..Been waiting for this!>>>>>North Bay Resources: Ruby Gold Alternative Mine Rescue Plan Approved
Date : 08/30/2012 @ 2:12PM
Source : MarketWire
Stock : North Bay Resources, Inc." (QB) (NBRI)
Quote : 0.06 0.0 (0.00%) @ 12:48PM
North Bay Resources: Ruby Gold Alternative Mine Rescue Plan Approved
North Bay Resources, Inc." (QB) (USOTC:NBRI)
Today : Thursday 30 August 2012
North Bay Resources Inc. (OTCBB: NBRI) (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to announce that the federal Mine Safety and Health Administration ("MSHA") has notified our wholly-owned subsidiary, Ruby Gold, Inc., that it has approved the Ruby Mine's Alternative Mine Rescue Plan. Combined with the recent approval of our Mine Safety Training plans announced in a Company press release dated August 21, 2012, this action abates the conditions on which MSHA issued stop work orders on July 17, 2012. The crew will now undergo refresher safety training under our MSHA-approved plans over the next week, after which we expect MSHA to formally terminate all stop work orders to allow us to resume operations at the Ruby Mine.
We will make a further announcement to confirm when operations have resumed.
About The Ruby Gold Project
The Ruby Mine, a/k/a the Ruby Gold Project, is a fully-permitted underground placer and lode mine located near Downieville in Sierra County, California that is known to have produced over 250,000 ounces of gold since the 1850s, and which is considered to be part of the northern extension of the historic Mother Lode system. The Ruby Property covers approximately 1,755 acres, consisting of the subsurface mineral rights of two patented claims totaling approximately 435 acres and 30 unpatented claims containing approximately 1,320 acres. The equipment, fixed assets, and infrastructure in place include a 1,000 yard per day placer wash plant, 50-ton per day quartz mill, 6,000 feet of tracked haulage, and related support equipment needed for underground mining operations. The property also features an excellent system of roads, is accessible via paved highway from Reno or Sacramento, has abundant water and timber available for mining purposes, and has PG&E power available on-site. For further information about the Ruby Mine, please visit the Ruby page on the North Bay website at http://www.northbayresources.com/ruby/.
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada.
In the US, the Company owns the Ruby Gold Mine in Sierra County, California, and is presently planning to acquire additional operating mines in the western US.
The Company's mission is to build a portfolio of viable mining prospects throughout the world and developing 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.
Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml
Contact:
Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com
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