
North Bay Resources Acquires 70% Interest In The Bishop Gold Mill, Inyo County, California
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 14.5% of 0877887 BC Ltd. (“087”) for a total interest of 70%. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
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 $0.0009 totaling 155,555,556 Restricted Shares subject to a minimum hold period of 1 year and representing approximately 2% 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 $2,500 CAD per month for 1 year effective March 1, 2025. The Company has amended an agreement with the Sabean Group for media services from $20,000 per month to $10,000 per month effective January 1, 2025.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
...
northbay-resources.com
X: @NorthBayRes
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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.


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