
Saturday, April 19, 2025 1:15:43 PM
The net value paid on the recent gold sale is equivalent to approximately $400 per ton. Further optimization of the gravity circuit along with the implementation of the flotation circuit are expected to increase recovery by up to 100% generating greater than 90% total recovery and a commensurate increase in value per ton to $800. In addition, ore control and head grade monitoring will be implemented as shipment sizes increase to give greater predictability and mass balance control at the Mill. Transportation costs for the recent 120 ton shipment from Fran was approximately $300 per ton which is expected to decrease to $200 per ton for all future shipments as a result of the recent opening of a new rail siding proximate to Fran. The siding was designed for ore on-loading from the nearby recently opened Blackwater Gold Mine and became operational on March 31, 2025. Milling costs are nominal at this time due to the low volume of ore being processed during optimization and ramp up. Direct operating cost is projected at $35 per ton or $3,500 per operating day at the rated mill capacity of 100 tons per day. Tariffs are expected to be $25 per ton or less due to the low value of the raw ore. Based on recent data, previous MET studies and head grade assays, target economics for the Mill is revenue of $800 per ton and costs of $300 per ton.
Seventy-five tons of ore is currently stockpiled at the Bishop Gold Mill. The ore will continue to be processed as part of optimization and ramp-up with additional shipments to follow. There is approximately 5,000 tons of stockpiled ore at the Project site. The main focus of optimization is now the flotation circuit. The Company has all necessary re-agents and has tested the mechanical aspects of the flotation circuit. The selective testing of the titration controls for frother and reagents is now underway. The implementation of the flotation circuit is expected to increase recovery by up to 100% from the current gravity only recovery, with overall recovery expected to reach 90%+. Independent metallurgical testing has resulted in a total recovery, inclusive of gravity and flotation circuits, of 97%. In addition, the Company has begun start-up of its concentrate drying circuit to reduce moisture content prior to refinery shipment.

Recent NBRI News
- North Bay Resources Announces Resource Estimate of 474,000 ounces at Fran Gold Project, British Columbia • InvestorsHub NewsWire • 05/13/2025 01:58:43 PM
- North Bay Resources Announces First Gold Concentrate Settlement and up to 160m (525 ft.) @ 0.6 g/t Au, including 76m (249 ft.) @ 1.1 g/t Au, Fran Gold Project, British Columbia • InvestorsHub NewsWire • 04/07/2025 01:46:37 PM
- North Bay Resources Announces Discovery of Mass Tonnage Gold Deposit up to 149m (489 feet) Grading 0.95 g/t Au, Fran Gold Project, British Columbia • InvestorsHub NewsWire • 04/01/2025 01:00:00 PM
- North Bay Resources Announces Assays up to 5.69% Copper, 1 Opt. Silver, and 0.22% Vanadium at Copper Island Project, British Columbia • InvestorsHub NewsWire • 03/10/2025 01:00:00 PM
- North Bay Resources Announces Refinery Shipment of Gold Concentrate from Bishop Gold Mill • InvestorsHub NewsWire • 03/04/2025 02:00:00 PM
- North Bay Resources Announces Production of 8.5 Ounces Per Ton Gold Concentrate, Bishop Gold Mill, California • InvestorsHub NewsWire • 02/19/2025 01:59:27 PM
- North Bay Resources Acquires 70% Interest in the Bishop Gold Mill, Inyo County, California • InvestorsHub NewsWire • 01/21/2025 02:26:17 PM
- North Bay Resources Announces Operation of New Gravity Circuit at Bishop Gold Mill, California • InvestorsHub NewsWire • 01/10/2025 01:29:40 PM
- North Bay Resources Announces Arrival of 42 Tons Gold Ore at Bishop Gold Mill, California • InvestorsHub NewsWire • 12/20/2024 02:00:00 PM
- North Bay Resources Announces MET Results of 97% Gold Recovery with Upgrade to 11.2 Ounces per Ton Concentrate, Fran Gold Project; Completes 120 Ton Winter Ore Shipment • InvestorsHub NewsWire • 12/16/2024 02:00:00 PM
- Shares of Natural Resource Explorer Up Following Development at Gold Project • AllPennyStocks.com • 12/02/2024 06:30:00 PM
- North Bay Resources Commences Fran Gold Winter Ore Shipment to Bishop Gold Mill, California • InvestorsHub NewsWire • 12/02/2024 02:07:41 PM
- North Bay Resources Announces Production of Gold Concentrate and Refinery Shipment at Bishop Gold Mill, California • InvestorsHub NewsWire • 11/18/2024 02:00:00 PM
- North Bay Resources Announces Assays up to 9.5% Copper at Murex Copper Project, British Columbia • InvestorsHub NewsWire • 11/04/2024 02:00:00 PM
- North Bay Resources Announces Federal (MSHA) Approval of Mt. Vernon Gold Mine Operational Plan and Commencement of Production, Sierra County, California • InvestorsHub NewsWire • 10/21/2024 01:00:00 PM
- North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • InvestorsHub NewsWire • 10/04/2024 01:15:00 PM
- North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • InvestorsHub NewsWire • 09/25/2024 01:15:00 PM
- North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • InvestorsHub NewsWire • 09/11/2024 01:15:00 PM
- North Bay Resources Commences Gold Shipments, Fran Gold Project, British Columbia; Enters Taber Gold Mine JV, Sierra County, California • InvestorsHub NewsWire • 09/09/2024 01:15:00 PM
- North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • InvestorsHub NewsWire • 08/26/2024 02:00:44 PM
- North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • InvestorsHub NewsWire • 08/22/2024 02:28:03 PM
- North Bay Resources Announces Mt. Vernon Gold Mine Startup, Sierra County, California • InvestorsHub NewsWire • 08/05/2024 01:00:00 PM
- North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • InvestorsHub NewsWire • 07/18/2024 01:00:00 PM
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