North Bay Resources Inc. has announced that it has staked an additional 3,843 acres approximately 3 miles northeast of the Company's recently announced Zeballos Gold property. The new claims contain recently discovered polymetallic mineralization, with known gold assays of up to 18.2 grams per tonne, as well as anomalous copper, silver, platinum group metals, and vanadium indications.

According to a National Instrument 43-101 report completed in January 2008 (BC Assessment Report 29646), the claims now owned by North Bay were originally acquired in May 2007 by the Pacific Rim Power Corporation ("PRPC"), a private company, "to cover unexpected and apparently undocumented metallic mineral occurrences encountered during earthworks construction for a new hydro-electric power project by the Zeballos Lake Hydro Limited Partnership."

An inspection of the assay results from the 2008 report show anomalous levels of titanium (0.88%), silver (1.6 ppm), copper (.076%), and vanadium (.019%), as well as nickel (87.7 ppm), cobalt (53.4 ppm), chromium (87.6 ppm), and trace amounts of molybdenum, platinum and palladium. The report notes that no systematic exploration work has been completed on the property, and the samples assayed were confined to a limited area where earthwork excavations were undertaken for the sole purpose of constructing the hydro-electric power plant facility, which is what allowed the new mineralization to be discovered. The report concludes that the property "hosts an early stage opportunity" for new porphyry type copper-gold and other related mineral occurrences, that "the potential does exist for significant 'blind' or non-outcropping mineralization," and that "systematic, phased exploration work is warranted on the property at this time."

The 2008 report also documents a float grab sample of quartz-sulphide vein material taken in 2003 by Canalaska Ventures Ltd. from the western portion of the property that yielded 18.2 grams per tonne gold. This sample has been relocated, and its UTM coordinates confirm that the sample comes from the southwest corner of North Bay's newly staked claims.

The Company has also staked additional ground further south of the PRPC claim group onto claims previously held by Canalaska Ventures on two reverted crown grants. An inspection of assay reports from a 2003 exploration program (BC Assessment Report 27428) shows elevated levels of vanadium in the mineralization, with assays as high as .069% vanadium.

The new claims are currently considered to be an extension of the Zeballos Gold Property (see Company press release dated January 4, 2010), but depending on how JV discussions proceed, the Company may elect to spin off the new claims as a separate property in the near future.