COMMON STOCK PURCHASE WARRANT NORTH BAY RESOURCES INC.Security Agreement • October 4th, 2010 • North Bay Resources Inc • Metal mining
THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, Ruby Development Company (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after October 1, 2010 (the “Initial Exercise Date”) and on or prior to the close of business on December 30, 2012 (the “Termination Date”) but not thereafter, to subscribe for and purchase from North Bay Resources Inc., a Delaware corporation (the “Company”), up to Ten Million (10,000,000) shares (the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).
