Bold Ventures Applauds Progress at Ring of Fire Provides Project Update
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 Applauds Progress at Ring of Fire
Provides Project Update
Toronto, Ontario, December 12, 2022 – Bold Ventures Inc. (BOL: TSX.V) (the
“Company” or “Bold”) is pleased to provide the following project update. Of special
note is the signing of a Memorandum of Understanding (MOU) between Webeque
First Nation and Ring of Fire Metals (formerly Noront Resources and Wyloo Metals).
A link to the press release is posted on the Bold website here. The MOU outlines a
framework for collaboration on proposed development in the Ring of Fire. The MOU
also details how the two parties will work together to progress ongoing exploration
activity in the region as well as negotiations on a partnership agreement for the
proposed Eagle's Nest mine.
Bold owns a 10% carried interest in the Black Horse Chromite NI 43-101 Inferred
Resource of 85.9Mt grading 34.5% Cr2O3 at a cut-off % of 20% Cr2O3. Bold also owns
a 40% working interest in all other metals found within the Koper Lake claims and
has a Right of First Refusal on a 1% NSR covering all metals found within the claim
group. The Black Horse is contiguous with the Blackbird chromite deposits owned by
Ring of Fire Metals. The Koper Lake claims are located approximately 300 m from the
Eagle’s Nest Deposit. The Company is encouraged by these ongoing developments in
this emerging mining camp.
The Traxxin Gold Project (Au)
During the Company’s 2021 diamond drilling program , the main gold bearing
structure was intersected in all four holes drilled beneath the Main Zone. Hole BV-21-
04 intersected 3.57 g/t Au over a core length of 12.29 m (See Bold news release dated
April 12, 2021). The focus of the next field program will involve a ground geophysical
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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
survey to track the Main Zone to the north. Based on th ese results, a drill program to
expand the main zone to the north and at depth below hole BV-21-04, will be
generated. An inclined long section depicting the Main Zone and the location of hole
BV-21-04 may be found here.
Burchell Gold-Copper Project (Au, Cu)
The Burchell prospecting program was recently completed and the next phase of
exploration work is being planned. Bold is pleased to have acquired the 2006 VTEM
survey data base commissioned by Mengold Resources Inc., that covers a portion of
the west side of the claim group. Acquiring this data will assist in determining if any
additional detailed coverage is needed within the surveyed area while considering
expansion of the VTEM grid to the eastern portion of the property.
The 2006 VTEM survey yielded a number of drill targets. These targets are being re-
evaluated and will be considered in light of the new airborne survey work once it has
been completed. The Company has received the initial exploration permit relating to
the Burchell claims. The permit contemplates areas for line cutting, stripping,
geophysical surveys and diamond drilling. The Burchell Project page on the Bold
website may be accessed here.
Farwell Project (Cu and Au)
The Farwell Copper and Gold project has been divided into three key areas. The first
area targeted for diamond drilling is within the Farwell Sulphide zone extending
northeast to the Tundra Gold area.
Historical exploration work at the Farwell Sulphide Zone (FSZ) indicates prominent
copper, zinc, lead and silver mineralization. The Farwell Sulphide Zone, located
within the south-central portion of the property, will be subject to a first phase
diamond drilling program. North of the FSZ is the Tundra Gold Horizon (TGH).
Historical work indicates notable gold, copper, zinc and silver values. A number of
diamond drilling targets have been recommended for this part of the property. A
copy of that report is posted on the Bold Website here.
The technical information found within this news r elease and the subject VTEM
interpretive report has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a
qualified person (QP) for the purposes of NI 43-101.
About Bold Ventures Inc.
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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
Bold Ventures management believes our suite of Battery, Critical and Precious
Metals exploration projects are an ideal combination of exploration potential
meeting future demand (see Bold Press release dated May 10, 2022). 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.
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.
As a result of the current COVID-19 virus concerns, the Company’s management
and contractors are following public guidelines and taking recommended steps
to protect the health and safety of all personnel while carrying out oper ations.
As a result of the COVID-19 pandemic giving rise to local and national anti-virus
measures, the scheduling of activities is subject to change. COVID-19 impacts
may affect timing and availability of goods and services for the foreseeable
future.
For additional information about Bold Ventures and our projects please visit
boldventuresinc.com or contact us at 416-864-1456 or email us at
“David B Graham”
David Graham
President and CEO
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
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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
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.