North Bay Resources retains DCG to provide due diligence and fundraising assistance
CAMBRIDGE, MN – (March 11, 2011) – DeMatties Consulting Group (“DCG” or “The Company”) is pleased to announce that it has commenced consulting services for North Bay Resources Inc. ("North Bay" or "The Firm") (OTCBB: NBRI), a junior mining exploration firm.
The Company will be conducting due diligence to locate advanced mineral properties in the western United States that require additional financing to advance towards production. North Bay is currently working to gain EB-5 status, which will allow the firm to make non-dilutive capital investments into advanced mineral properties in certain areas of the United States.
The EB-5 visa is an initiative launched by the U.S. government in 1990 that provides a way for foreign nationals to obtain green cards. To obtain the visa, individuals must invest at least $500,000 and create 10 new jobs in a qualified regional area.
In addition to conducting due diligence, DCG will attempt to arrange financing for one or more of North Bay’s portfolio of Canadian properties by accessing the Company’s vast network of contacts, ranging from accredited investors to investment banks to joint-venture partners.
"We are extremely pleased to have the [group's] experience and caliber assisting our efforts to acquire additional operating mines in the US," stated Perry Leopold, CEO of North Bay. "Their extensive experience and knowledge of the western US in particular will be of enormous value to us as we continue to conduct due diligence and move forward in our project evaluations."
About North Bay Resources Inc.
North Bay Resources Inc. (OTCBB: NBRI) is a fully-reporting junior mining company with over 150 mineral and placer claims encompassing approximately 60,000 acres throughout British Columbia, Canada. In the US, the Company holds an option to acquire the Ruby Gold Mine in Sierra County, California, and is presently looking to acquire additional operating mines in the western US.
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.
About DeMatties Consulting Group:
DeMatties Consulting Group LLC is a specialized consulting firm that provides capital financing, project development, investor relation and corporate communication services to public and private companies in the precious metals industry. For more information visit www.dematties.com.
