August 20, 2014 6:50 AM ET

Metals and Mining

Company Overview of Ruby Gold, Inc.

Company Overview

Ruby Gold, Inc. engages in mining of gold. The company is based in California. As of July 1, 2011, Ruby Gold, Inc. operates as a subsidiary of North Bay Resources, Inc.

571-C Searls Ave.

Nevada City, CA 95959

United States

Phone:

215-661-1100

Key Executives for Ruby Gold, Inc.

Chairman
Age: 64
Chief Operating Officer and Mine Manager of the Ruby Mine
Age: 59
Secretary and Director
Age: 71
Compensation as of Fiscal Year 2014.

Ruby Gold, Inc. Key Developments

Ruby Gold, Inc. Appoints William S. Watters as Chief Operating Officer, Effective March 3, 2014

Ruby Gold, Inc. announced that it has appointed Mr. William S. Watters, P.E., as the Company's Chief Operating Officer, effective March 3, 2014. Mr. Watters was the Senior Mine Engineer at the Ruby Mine when the Ruby was last in operation in 1998. Mr. Watters was also the Chief Mining Engineer at the Idaho-Maryland Mine in Grass Valley, CA, and more recently was the Chief Inspector/Engineer at the $333 Million New Irvington Tunnel Project in San Francisco. Mr. Watters' COO duties will include serving as the Mine Manager for the Ruby Mine in Sierra County, California, responsible for management, supervision and all aspects of operations at the Ruby. When the planned spinoff of RGI as an independent company is completed, Mr. Watters will then become the Company's Chief Executive Officer, and will also be given a seat on the Board of Directors. Prior to his appointment, Mr. Watters has been serving as an independent consultant to the Company since 2011.

North Bay Resources, Inc. Formalizes a De Facto Joint Venture with Ruby Gold, Inc

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.

Ruby Gold, Inc. Receives Approval from the Federal Bureau of Alcohol, Tobacco, Firearms and Explosives for the Ruby Mine

North Bay Resources Inc. reported that its wholly-owned subsidiary, Ruby Gold, Inc., has received notification from the federal Bureau of Alcohol, Tobacco, Firearms and Explosives that an ATF explosives permit has been issued for the Ruby Mine. The company also reported that a licensed blasting contractor has been engaged to facilitate operations. Accordingly, with all required regulatory approvals now in place, the company announced that underground mining operations to conduct test mining and bulk sampling in the White Channel will resume the week of November 11, 2013. The next phase of work, which had been delayed while the explosives permit was still pending, will entail blasting to widen the accessway into the White Channel to better facilitate the movement of equipment and supplies. This task is expected to take approximately one to two weeks to complete, at which point extraction and processing will commence. The company will issue additional updates as the work progresses and the results of the initial bulk sampling are compiled.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 9, 2014
Carson Mine and Additional Claims near the Ruby Adit
Spin-Off/Split-Off
January 15, 2014
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