North Bay Resources Acquires Mt Vernon Mine, Expects Long-Term Gold Production

North Bay Resources Inc. (OTC:NBRI) has announced an agreement to acquire 100% of the Mt Vernon Mine in Sierra County, California. The mine, located near historically rich North American gold mines, is an undeveloped yet promising site with well-defined and relatively shallow gold deposits. North Bay plans to scale up operations to process around 100 tons per day, with expectations of yielding significant gold quantities based on initial exploration data. The mine could produce approximately 80 ounces of gold daily, translating to gross revenues of about $200,000 per day, with net revenues potentially exceeding $100,000 after costs and partnerships. With nearly a million tonnes of known high-grade feedstock, the mine's operations could sustain for about 50 years at the current processing rate. The company aims for continued development and potential expansion of its processing capabilities in the future.