North Bay Resources Provides Update on Ruby Gold Project Funding

North Bay Resources is pleased to announce that Northern California Regional Center, LLC ("NCRC"), a USCIS-designated Regional Center under the federal EB-5 Program, has agreed to expcopper purification from ore machinaryand its scope to include mining projects in the counties of Sierra and Nevada in Northern California, and together with ACG Consulting, LLC , has agreed to sponsor North Bay's application to obtain $7.5 million for North Bay's Ruby Gold Project in Sierra County, California, through the EB-5 Program

The EB-5 Program (the "EB-5 Program") was authorized by the US Congress under the Immigration and Nationality Act of 1990, with the intent to help stimulate the US economy by creating new jobs in rural areas and areas of high unemployment. The term "EB-5" is an acronym for "the fifth employment based visa preference category." As it implies, the source of the investment capital comes from foreign investors who wish to legally immigrate to the US by investing a minimum of $500,000 in a commercial enterprise that will benefit the US economy and create at least 10 full-time jobs. The program is administered by the United States Citizenship and Immigration Services ("USCIS"), as provided under Section 610 of Public Law 102-395. Since its inception in 1990, the EB-5 Program has been the conduit through which over $1 billion has been invested by foreign nationals in US enterprises to create jobs throughout the US economy. As previously announced on August 16, 2010, the Company executed an agreement with ACG intended to establish a new...