Bold Ventures and Gold X2 Sign Letter of Intent for 38 Claim Units at Burchell
Bold Ventures and Gold X2 Sign Letter of
Intent for 38 Claim Units at Burchell
Toronto, Ontario--(Newsfile Corp. - September 21, 2026) - Bold Ventures Inc. (TSXV: BOL) (OTCQB:
BVLDF) (the "
Company
" or "
Bold
") is pleased to announce that it has signed a binding Letter of Intent
("
LOI
") with Gold X2 Mining Inc. ("
Gold X2
") whereby Gold X2 will acquire 38 mining claim units (the "
38
Claims
") along the west boundary of Bold's 242 claim
Burchell Property
(the "
Property
") adjoining Gold
X2's Moss Project, see
Figure 1
(below). The LOI outlines a transaction (the "
Transaction
") whereby
Gold X2 will purchase the 38 Claims in exchange for consideration of:
C$500,000 cash.
150,000 common shares of Gold X2 with a nominal value of approximately C$1.25 million
reflecting the closing price of the common shares on September 18, 2026.
A 2% NSR royalty on all
Canadian Critical Minerals
(excluding copper) mined from within the
subject claims. Gold X2 maintains the right to buy back one half of the NSR (1%) for C$1,000,000
cash.
The 38 Claims cover approximately 6.5 km
2
and are host to historical gold and critical mineral
occurrences as well as anomalous gold and rare earth elements that were located during Bold's recent
drilling campaign (see Bold news releases dated
June 3, 2026
and
July 23, 2026
). The 38 Claims are
subject to an existing 3% net smelter return royalty, one half of which can be purchased for C$2.5 million.
The Burchell Project will cover an area of approximately 39.4 km
2
comprising 204 mining claim units.
The transaction is subject to the execution of definitive agreements including conditions, representations
and warranties that are customary for a transaction of this nature. The transaction is subject to approval
of the TSX Venture Exchange.
Burchell Project Plans
Bold's immediate focus at Burchell will be to follow up the anomalous copper, zinc and gold values
encountered at the "111 Zone" and along trend in both directions (see Bold news release dated
March
19, 2026
). Additionally, geophysical surveys and follow-up prospecting across approximately 4 km of the
Hermia Pluton and its southern contact zone will aid in determining drill targets for the next phase of
drilling. Recent grab samples within this area of the pluton returned values ranging from 32 ppm up to
3,060 ppm (0.3%) Total Rare Earth Oxides (TREO).
Bruce MacLachlan, President and COO of Bold commented that "This agreement will strengthen Bold's
cash position in a non-dilutive manner while maintaining significant upside for our shareholders through
the royalty and continued exploration of the vast majority of our Burchell claim group. We have only
scratched the surface at our "111 Zone" and the Hermia Pluton while the majority of the claim group
remains under explored."
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/315110_08fc0804941ef8fe_001full.jpg
The technical information in this news release was reviewed and approved by Coleman Robertson,
B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person (QP) for the purposes of NI 43-
101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals
exploration projects are an ideal combination of exploration potential meeting future demand
.
Our target commodities are comprised of: Copper (
Cu
), Nickel (
Ni
), Lead (
Pb
), Zinc (
Zn
), Gold (
Au
),
Silver (
Ag
), Platinum (
Pt
), Palladium (
Pd
) and Chromium (
Cr
). The Critical Metals list and a description
of the Provincial and Federal electrification plans are posted on the Bold website
here
.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties
located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold
also holds significant assets located within and around the emerging multi-metals district dubbed the
Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit
boldventuresinc.com
or
contact us at 416-864-1456 or email us at
.
"Bruce A MacLachlan"
Bruce MacLachlan
President and COO
"David B Graham"
David Graham
CEO
Direct line: (705) 266-0847
Email:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-
looking statements that involve risks and uncertainties, which may cause actual results to differ
materially from the statements made. When used in this document, the words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are
intended to identify forward-looking statements. Such statements reflect our current views with respect
to future events and are subject to such risks and uncertainties. Many factors could cause our actual
results to differ materially from the statements made, including those factors discussed in filings made
by us with the Canadian securities regulatory authorities. Should one or more of these risks and
uncertainties, such actual results of current exploration programs, the general risks associated with
the mining industry, the price of gold and other metals, currency and interest rate fluctuations,
increased competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, or expected. We do not intend and do not
assume any obligation to update these forward-looking statements, except as required by law.
Shareholders are cautioned not to put undue reliance on such forward-looking statements.
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https://www.newsfilecorp.com/release/315110