I guess technically, the dam road still exists and will be used by dam personel. It just won't go through to natoma street anymore. On the northern side of the river, the new road will intersect Folsom-Auburn Rd west of the Dam road intersection. And as they are re-routing all kinds of stuff on the southern side of the river, I presume the road will have a new name.
So an accurate and short descriptive title would be "The dam road bypass"
Hey, what happened to my B) answer?
well, short version, yes, American River Bridge is geographically accurate