BOL.V · 2020-08-12 12:00:00

Bold Ventures Announces First Closing of Non-Brokered Private Placement and Receives Airborne Interpretation for Farwell Gold and Base Metals Project

Financings

BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456

22 Adelaide Street West, Suite 3600 Fax: 416 865 6636

Toronto, Ontario, M5H 4E3

boldventuresinc.com

NEWS RELEASE - For Immediate Release

Bold Ventures Announces First Closing of Non-Brokered Private

Placement and Receives Airborne Interpretation for Farwell Gold

and Base Metals Project

Not for distribution to U.S. Newswire Services or for dissemination in the United States

Toronto, Ontario August 12, 2020 – Bold Ventures Inc. (BOL: TSX.V) (the

“Company” or “ Bold”) is pleased to announce that it has closed the first

tranche of its non -brokered private placement, announced in its July 31,

2020 Press Release (the “ Offering”), and raised $1 45,000 through the

issuance of 2,900,000 working capital units (“WC Units”).

Each WC Unit is priced at $0.05 and comprises one (1) common share of

the Company priced at $0.05 and one (1) common share purchase

warrant (each a “WC Warrant”), with each WC Warrant entitling the

holder to acquire one (1) common share at a price of $0.10 until August

11, 2022. The Company paid a $3,600 cash finders fee to a qualified

arms-length institutional finder. All securities issued pursuant to the

first closing are subject to a hold period expiring on December 12, 2020.

The WC Units offering will remain open until the earlier of August 28, 2020

and the sale of the remaining 2,100,000 WC Units.

Concurrently, the Company is offering up to 4,000,000 Flow Through

Units (“FT Units”) at a price of $0.075 per FT Unit for up to $300,000

(“FT Offering”). Each FT Unit comprises one (1) common share of the

Company and one-half (½) of one (1) common share purchase warrant.

Each full warrant (a “Warrant”) entitles the holder to acquire one (1)

common share at a price of $0.10 for two (2) years following the closing

of the FT Offering. The proceeds of the FT Offering will be used to explore

BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456

22 Adelaide Street West, Suite 3600 Fax: 416 865 6636

Toronto, Ontario, M5H 4E3

boldventuresinc.com

the Company’s properties and will qualify as Canadian Exploration

Expenses. The FT Offering will remain open until the earlier of August 28,

2020 or the sale of the 4,000,000 FT Units.

Farwell Gold and Base Metals Project

In other news, the Company has received the interpretive report of a

helicopter magnetic and electromagnetic survey that was carried out on

behalf of the Ontario Geologic Survey by Fugro Airborne Surveys, Dighem

Division, in 1987. The report was prepared by Scott Hogg and As sociates

Ltd. and includes a technical review of the airborne data as it relates to

the Farwell Gold and Base Metals Project and supplies recommendations

for ground follow -up work . A prospecting, s ampling and mapping

program is planned to commence later this month.

Please visit the Bold website at www.boldventuresinc.com and see our