North Bay Resources Announces Acquisition of Bendito Resources
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9:00 AM on Thursday, March 26
The Associated Press
BISHOP, CA / ACCESS Newswire / March 26, 2026 / North Bay Resources, Inc. (the "Company" or "North Bay") (OTCID:NBRI) is pleased to announce it has entered a binding Letter of Intent (the "Agreement") to acquire a 100% interest in Bendito Resources, Inc. ("Bendito"). Bendito is a privately held corporation with a portfolio of assets located primarily in the State of Sonora, Mexico, proximate to Hermasillo and within driving distance of Tucson, AZ.
The Agreement covers a portfolio of assets as follows:
OPOSURA Zn-Ag-Pb
Oposura is a fully permitted 1000tpd, construction ready 908 hectare project. There have been 308 holes drilled to date and 500tpd capacity of mining and milling equipment, having been previously acquired, are inclusive in the Agreement. A NI 43-101 compliant Preliminary Economic Assessment completed by mine engineering company Forte Dynamics in 2024 reports the following:
Measured + Indicated
Ore Tonnes (kt) | Zn Grade (%) | Pb Grade (%) | Ag Grade (g/t) | Zn Tonnes (kt) | Pb Tonnes (kt) | Ag (koz) | |
East | 965 | 3.15 | 2.09 | 13.64 | 30 | 20 | 423 |
West | 497 | 4.43 | 1.74 | 13.84 | 22 | 9 | 221 |
Underground | 221 | 13.72 | 3.87 | 62.59 | 30 | 9 | 445 |
Total | 1,683 | 4.92 | 2.22 | 20.13 | 83 | 37 | 1,089 |
Inferred
Ore Tonnes (kt) | Zn Grade (%) | Pb Grade (%) | Ag Grade (g/t) | Zn Tonnes (kt) | Pb Tonnes (kt) | Ag (koz) | |
East | 145 | 5.62 | 3.58 | 33.80 | 8 | 5 | 158 |
West | 441 | 4.91 | 1.31 | 13.01 | 22 | 6 | 184 |
Underground | 54 | 9.92 | 2.82 | 57.66 | 5 | 2 | 101 |
Total | 640 | 5.18 | 2.04 | 19.55 | 35 | 12 | 443 |
ALACRAN Ag-Au-Cu
The Alacran Project is an advanced exploration phase project of 5,433 hectares with 48,903 meters of drilling in 306 holes to date. Alacran is located 17km South of the Buenavista Cu-Zn-Ag Mine, operated by Grupo Mexico; one of the largest copper mines in the world with 9Bt in reserves. A JORC compliant Mineral Resource Estimate completed by Amec Foster Wheeler (2017) and subsequently reviewed and reported in a NI 43-101 compliant Technical Report by Mine Technical Services (2022) provides the following:
Mesa de Plata Deposit
Category | Zone | Tonnes | Silver | |
Ag Grade (g/t) | Contained Ag (Moz) | |||
Measured | High-grade (90) | 1.21 | 307.4 | 12.0 |
Mid-grade (20) | 8.43 | 43.0 | 11.7 | |
Subtotal | 9.64 | 76.2 | 23.6 | |
Indicated | High-grade (90) | 0.54 | 201.7 | 3.5 |
Mid-grade (20) | 0.28 | 36.2 | 0.3 | |
Subtotal | 0.82 | 145.4 | 3.8 | |
Total M+I | High-grade (90) | 1.75 | 274.7 | 15.5 |
Mid-grade (20) | 8.71 | 42.8 | 12.0 | |
Grand Total | 10.46 | 81.6 | 27.4 |
Loma Bonita Deposit
Category | Tonnes | Gold | Silver | ||
Au Grade (g/t) | Contained Au (koz) | Ag Grade (g/t) | Contained Ag (Moz) | ||
Indicated | 4.20 | 0.95 | 128.5 | 30.1 | 4.07 |
Inferred | 1.20 | 0.60 | 22.0 | 18.0 | 0.7 |
In addition to the above advanced deposits, a number of additional deposits exist on the property including the Cerro Alacran Porphyry.
PROMONTORIO Cu-Au
The Promontorio Project is located in Chihuahua State. Promontorio is an advanced exploration phase project totalling 10,699 hectares. A JORC compliant Mineral Resource Estimate was completed by AGP Mining Consultants (2015) adding the Cascada Deposit to their previous Mineral Resource Estimate for the Promontorio Deposit (2013) as follows:
Promontorio and Cascada Deposit
Deposit | Tonnes | Cu Grade (%) | Au Grade (g/t) | Ag Grade (g/t) | Cu Tonnes | Au Ounces | Ag Ounces |
Promontorio | 840,000 | 2.5 | 1.6 | 56 | 20,800 | 43,800 | 1,500,000 |
Cascada | 2,060,000 | 0.9 | 1.6 | 27 | 18,800 | 107,200 | 1,760,000 |
Total | 2,900,000 | 1.4 | 1.6 | 35 | 39,600 | 151,000 | 3,260,000 |
Additional Projects
There are five additional properties in the portfolio:
Tecolote - Cu-Zn-Ag-Au
San Agustin - Au-Ag
Panchita - Au
Telix - Graphite
Sara Alicia - Au
The Sara Alicia project is currently excluded from the Agreement due to a prior exploration agreement, discussions remain ongoing at this time.
Acquisition
Terms of the Acquisition are as follows:
One time cash payment of $25,000,000 for a 100% interest in Bendito, debt free.
Corporate Update
Operations at the Company's Bishop Gold Mill recommenced in March with the processing of a test shipment of ore grading 3.38opt Au from the Company's Fran Gold Project. A concentrate delivery was completed March 25th at Reno, NV with settlement pending.
On behalf of the Board of Directors of
NORTH BAY RESOURCES INC.
Jared Lazerson
CEO
X: @NorthBayRes
YouTube: North Bay Resources - YouTube
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
SOURCE: North Bay Resources, Inc
View the original press release on ACCESS Newswire
