North Bay Resources, Inc. announced that it formalized a de facto joint venture with wholly-owned subsidiary, Ruby Gold, Inc. ("RGI"), and executed a definitive joint-venture agreement, with regard to the development and exploitation of the Ruby Mine in Sierra County, California (the "Ruby"), effective January 9, 2014. Under the terms of the agreement, the North Bay Resources will fund Ruby through loans, as needed, to maintain the property and operations thereof.  RGI will remain the owner and operator of Ruby, and the North Bay Resources shall be apportioned a 50% interest of net income distribution from Ruby once all debt has been extinguished. The business name of the Venture will be Ruby Gold JV.

The exclusive purpose of the Venture will be mining operations at the Ruby Mine Property in Sierra County, California, including any new claims to be registered as a result of staking and expansion of the JV Property. The principal office and legal address of the business of the Venture will be located at the offices of Ruby Gold, Inc. or such other place as the Members may from time to time designate.