Yes the ring is the safety, had that added to ease the use of the safety with a scope in place. All the boltwork was done by a man named Jim Robert, his e-mail is
jhrobert@charter.net and his website, where you can find examples of his craftsmanship and a list of different models he does for Mosin Nagant rifles and Mausers...
http://www.angelfire.com/gundam/boltman/bolt_work/
you can also contact him through this link as well, and it lists his prices too...
http://www.mosinnagant.net/Boltman/Boltman.html