North Bay Resources Inc. Executes Agreement for Northern California Project Funding

SKIPPACK, PA -- (Marketwire - August 16, 2010) - North Bay Resources Inc. (OTCQB: NBRI) ("North Bay" or the "Company") is pleased to announce that it has executed an agreement with ACG Consulting, LLC ("ACG") intended to establish a new economic Regional Center ("RC") under the federal EB-5 program (the "EB-5 Program") that will encompass all of Northern California\'s Gold Country. Once established, the Regional Center is expected to provide full funding for the Company\'s prospective mining projects in Northern California.

EB-5 is a federal program authorized by the US Congress in the Immigration Act of 1990, and is intended to help stimulate the US economy by creating new jobs in rural areas or 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 overseas investors who wish to immigrate to the US by investing 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.

Upon approval by USCIS, the Regional Center will serve as the legal vehicle through which investment capital may be solicited from foreign nationals under the EB-5 Program, in reliance upon Regulation S, to provide EB-5 financing for all approved industries within the Regional Center\'s designated geographical area. The Northern California Regional Center will encompass all of what is commonly known as "Gold Country", which traverses State Route 49 from Plumas County in the north to Mariposa County in the south. The full extent of the Regional Center is expected to include all of the counties in Northern California from Monterey up to the Oregon border, and from the Pacific coastline across to the Nevada border.

The agreement provides that North Bay will own 49% of the Regional Center, and ACG will own 51%. ACG and North Bay, working together through the Regional Center, will seek to raise up to $7.5M in EB-5 funding for North Bay\'s initial mining project, subject to USCIS approval. ACG will also be an equity partner in each project North Bay brings into the Regional Center, the amount of which will vary on a deal by deal basis based on the amount of consulting services ACG actually provides. As well, North Bay, by virtue of its substantial equity interest in the Regional Center, will also benefit from any other EB-5 projects funded through the Regional Center, including projects unrelated to mining.

North Bay CEO Perry Leopold commented, "We are very excited to be working with ACG on what we believe is a unique opportunity with far-reaching implications for our long-term growth. The professionalism and expertise of the ACG team is quite impressive, and I am looking forward to continuing an outstanding working relationship with them. As always, we will continue to keep shareholders informed of new developments as we go forward."


About ACG Consulting, LLC

ACG Consulting, LLC is an affiliate of Acer Capital Group, a global holding company of Private Equity foreign and domestic funds in the business of deploying capital. ACG specializes in facilitating employment-based funding through the federal EB-5 program, and has successfully established EB-5 Regional Centers throughout the US, and across a diverse range of industry sectors. For further information, please visit the ACG website at http://www.acgcompanies.com


About North Bay Resources Inc.

North Bay Resources Inc. (OTCQB: NBRI) is a junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada. The Company\'s mission is to build a portfolio of viable mining prospects throughout the world and developing them through subsidiaries and JV partners to their full economic potential. North Bay\'s business plan is based on the Generative Business Model, which is designed to leverage its properties into near-term revenue streams even during the earliest stages of exploration and development. This provides shareholders with multiple opportunities to profit from discoveries while preserving capital and minimizing the risk involved in exploration and development.

The Company has recently filed registration documents with the SEC to become a fully-reporting company. Once the registration is effective, the Company will then be eligible to have its stock listed on the Over-the-Counter Bulletin Board (OTCBB).



SAFE HARBOR FOR FORWARD LOOKING STATEMENTS

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although North Bay Resources Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by North Bay Resources Inc. or any other person that the objective and plans of North Bay Resources Inc. will be achieved.

Cautionary Note to U.S. Investors -The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on our website (or press releases), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form S-1 and subsequent Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml



Contact:

Perry Leopold
CEO
North Bay Resources Inc.
215-661-1100
http://www.northbayresources.com