North Bay Resources Acquires 70% Stake in Bishop Gold Mill

North Bay Resources Inc. has expanded its stake in the Bishop Gold Mill in Inyo County, California to 70% after entering a share purchase agreement with CMC Metals Ltd. The deal, finalised in January 2025, involves the acquisition of an additional 14.5% interest from CMC Metals Ltd, bringing North Bay Resources' total stake in the mill to a controlling 70%. The financial transaction includes incremental cash payments totaling $162,500 and a $200,000 CAD issuance of North Bay common shares to CMC Metals. The Bishop Gold Mill, capable of processing 96 tons per day and equipped with advanced gold extraction equipment, is crucial for North Bay's operations with material being sourced from its Fran Gold Project. As a result of this agreement, CMC Metals relinquishes its security interest in the mill, receiving substantial stock in North Bay in return and positioning itself for potential future benefits from North Bay’s successful gold operations. CMC Metals, based in Vancouver, specializes in the exploration of high-grade silver-lead-zinc deposits, primarily in British Columbia and Yukon, but is divesting its interest in the Bishop Mill to streamline its focus on core mineral discoveries.