ASSESSMENT REPORT Prospecting Survey On the MONTE CRISTO PROJECT New Westminster Mining Division Latitude: 49° 57’ 24’’ N; Longitude: 122° 25’ 38’’ W NTS 092G16W For NORTH BAY RESOURCES INC. PO Box 162 Skippack Pennsylvania 19474 USA By Dan V. Oancea PGeo August 1, 2014 !≥≥•≥≥ • 2• ≤ ®• - • #≤©≥ 0¨°£•≤ 0≤™•£ 0°• TABLE OF CONTENTS 1 Summary Page 1 2 Conclusions Page 4 3 Recommendations Page 4 4 Introduction Page 4 4.1 Location, Access and Physiography Page 4 4.2 Placer Claims Page 5 4.3 Climate, Local Resources, Infrastructure Page 7 4.4 History and Development Page 7 5 Geology and Mineralization Page 8 5.1 Regional Setting Page 8 5.2 Mineralization and Deposits Page 8 5.3 Property Geology and Mineralization Page 9 6 Prospecting Survey Page 10 7 Discussion and Conclusions Page 11 8 Recommended Work Page 14 9 Cost Statement Page 15 10 References Page 16 11 Statement of Qualifications Page 17 LIST OF FIGURES Figure 1 - Index Map After Page 3 Figure 2 - Topography and Access Map After Page 4 Figure 3 - Placer Claims Map After Page 6 Figure 4 & 5 - Sampling Maps 1 & 2 After Page 10 LIST OF TABLES Table 1 - Placer Titles Page 6 Table 2 - Sample Locations Page 18 PICTURES Plate 1 - Monte Cristo Alluvial Terrace Page 10 APPENDICES Appendix 1 - ALS Chemex Analytical Certificates & Chemical Procedures !≥≥•≥≥ • 2• ≤ ®• - • #≤©≥ 0¨°£•≤ 0≤™•£ 0°• 1. Summary The Monte Cristo gold-platinum placer project is located on the Lower Lillooet River some 12 km south of the Lillooet Lake in the New Westminster Mining Division of southwestern British Columbia, Canada. The property could be accessed by following Highway 99 from Vancouver to Pemberton and to the community of Mount Curie for about 160 km then turning south on the in-SHUCK-ch Forest Service Road for another 60 km. The Monte Cristo property consists of 16 placer claims and is 100% owned by North Bay Resources Inc of Skippack, Pennsylvania, USA. It covers 332.59 ha alongside the Lower Lilloet River which flows southeast from the Lillooet Lake towards the Harrison Lake. The property occupies a part of the broad U-shaped glacial river valley and is flanked by moderately to steep terrain. The property is covered by NTS Map Sheet 092G. Rocks underlying the Monte Cristo placer property are represented by marine sedimentary and volcanic rocks of the Lower Cretaceous Gambier Group which are surrounded by other intrusive rocks of Mesozoic age. An important northwest trending fault – the Fire Creek Fault - parallels the Lower Lillooet River. Geological constrains point to the Lillooet River being of Pliocene to Miocene age. The placer property is underlain by alluvium of minimum a Quaternary age. At least part of the alluvium was derived from the reworking of the glacial till material that blanketed the hills and from glacial outwash material. The Monte Cristo placer tenures occupy several well developed terraces of the Lower Lillooet River that are extending from 121 masl to above 150 masl. In 1858 the Lower Lillooet River was part of a portage trail between the Harrison and Lillooet Lakes which was built by gold seekers that were looking for ways to get into the Fraser River placers and later into the Cariboo region where a gold rush was about to take place. Coarse gold was also discovered along this route by miners travelling to the Cariboo gold fields. No known placer mining operation had been recorded on the river but in the 1970s and 1980s several attempts were made to economically produce gold and platinum from placer leases located north of the Harrison Lake. The precious metals were described as fine to micron size and enjoying a wide distribution in the alluvial deposits that occupy the wide Lower Lilooet River Valley. In 2012 North Bay Resources engaged in a first pass prospecting and sampling survey of their Monte Cristo claims. Coarse gold was identified in many of the samples collected from an area located near the Skookumchuck hot springs where assay results ran as high as 5.70 g/t gold. !≥≥•≥≥ • 2• ≤ ®• - • #≤©≥ 0¨°£•≤ 0≤™•£ 0°• Fig.1 - Monte Cristo Index Map Legend 0 140 280 km. Scale: 1:8,000,000 Map center: 54°16' N, 123°35' W This map is a user generated static output from an Internet mapping site and is for general Notes: Dan Oancea July 2014 for North Bay Resources Inc. reference only. Data layers that appear on this map may or may not be accurate, current, or otherwise reliable. THIS MAP IS NOT TO BE USED FOR NAVIGATION. The writer of the present report was engaged to assess the prospectivity of the claims and a two day field survey was undertaken in April 2014. The easier to access, permit and mine part of the Monte Cristo placer property is located on the western side of the river therefore that part of the property was surveyed and some of the higher elevation terraces were sampled. Assay results were not able to replicate the gold and platinum assays reported back in the 1970s. 2. Conclusions The results of the 2012 and 2014 prospecting surveys as well as literature search and the interpretation of available geological data point to the fact that the Monte Cristo placer tenements have the potential to host precious metals in certain stratigraphic levels or fluvial terraces of the Lower Lillooet River. Field results point to the fact that fine gold is not ubiquitous and has no uniform distribution throughout the thick pile of alluvial sediments of the Lower Lillooet River. Nevertheless the presence of coarse gold on the lower terraces of the river as resulted from previous work on the claims and mentioned in historic documents indicate that possible economic accumulations of gold exist with gold most likely derived from local sources. 3. Recommendations It is recommended to undertake a more detailed geological and sampling survey that would clarify the Lower Lillooet River's alluvial stratigraphy and gold (and possible platinum) distribution as well as the gold balance and particle size distribution. Areas of interest would be delineated and bulk sampled or outright mined to provide funds for the development of the placer claims. The possibility of developing commercial gravel pits that would serve the needs of the region's road builders, which includes the Ministry of Transportation, would also have to be taken into consideration. 4. Introduction 4.1 Location, Access and Physiography The Monte Cristo placer property is located on the Lower Lillooet River of the southern Cascade Mountains in the New Westminster Mining Division of southwestern British Columbia, Canada. It is covered by NTS Map Sheet 092G. !≥≥•≥≥ • 2• ≤ ®• - • #≤©≥ 0¨°£•≤ 0≤™•£ 0°• Fig.2 - Monte Cristo Topography & Access Map Legend Scale: 1:14,888 0 800 1600 m. Map center: 49° 57' 32" N, 122° 25' 47" W This map is a user generated static output from an Internet mapping site and is for general Notes: Monte Cristo placer claims contoured by red line. Dan Oancea, July 2014 for North Bay reference only. Data layers that appear on this map may or may not be accurate, current, or Resources Inc. otherwise reliable. THIS MAP IS NOT TO BE USED FOR NAVIGATION. The property could be accessed from Vancouver by travelling north on Highway 99 past Whistler and Pemberton and to the small community of Mount Curie over a distance of 164 km. From Mount Curie turn south on the in-SHUCK-ch Forest Service Road for another 60 km in order to reach the northern boundary of the Monte Cristo placer claims. To access the western side of the claims the road crosses the Little Lillooet Lake over the 156 m in length and 25 m mainspan Tenas Bridge which was built in 1999. The road is being used by local forestry companies. The Lower Lillooet River route known as the Douglas Road was a gold rush-era (1858) transportation route from the Coast to the Interior of British Columbia which was used to access the Fraser River and Cariboo gold fields. Mount Curie is an Indian Reserve (population: 800) belonging to the Lil'wat people. It was originally named after John Curie a former California and Cariboo, B.C. gold miner. Curie the first non-indigenous settler of the area became a rancher (along with his Lillooet Indian wife) in 1885. The Lillooet River ('nkukutsa' in native language) begins at the Lillooet Crown Icecap which is located 80 km northwest of Pemberton. The Upper Lillooet River valley is about 95 km in length and enters the Lillooet Lake 15 km from Pemberton near Mount Curie. The Lillooet Lake is about 25 km in length and covers an area of 33.5 sq km. Old First Nations stories tell of a huge water snake that inhabits the lake. The Lower Lillooet River flows out of the southern tip of the namesake lake over a 55 km distance until it joins the larger Harrison Lake. The Lower Lillooet River valley is bordered to the west by the Garibaldi Provincial Park. The placer property is surrounded by forested mountainous terrain. Part of the property is also covered by mostly young coniferous forests. The eastern part of the Monte Cristo claims hosts the Skookumchuck Hot Springs (092GNE040) which represents a touristic attraction especially in summer time. The Monte Cristo placer claims are located in between the Indian Reserve 3 Sweeteen to the north and Indian Reserve 4 Skookumchuck. 4.2 Placer Claims The Monte Cristo property consists of sixteen placer claims that cover 332.59 hectares (821.85 acres). The claims are 100% owned by North Bay Resources Inc.