Bold Ventures Completes Electromagnetic Conductor Modelling at Farwell and Amends Option Agreements
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
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NEWS RELEASE - For Immediate Release
Bold Ventures Completes Electromagnetic Conductor Modelling at
Farwell and Amends Option Agreements
Toronto, Ontario, April 29, 2024 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or
“Bold”) is pleased to announce that it has completed geophysical modelling of 6 high
priority electromagnetic conductors identified by a helicopter-borne, versatile time
domain electromagnetic (VTEM Plus) and magnetic survey carried out by Bold in
2022. A copy of the report may be found in the Project Reports section found on the
Farwell Battery and Precious Metals Project page. Combined with the geological and
geophysical work accomplished to date, a drill program to test these targets has been
developed.
The Farwell Gold and Copper project is located approximately 55km northwest of
Wawa Ontario and consists of 133 Cells and Multi Cells comprising 15,901 acres
(6,935 hectares). For reporting purposes, the Farwell property has been divided into
three areas exhibiting gold and copper mineralization. They are the Farwell Sulphide
Zone, the Tundra Gold Horizon and the Koala Gold Area. The focus for this phase of
work is the Farwell Sulphide Zone where historical diamond drilling intersected
highly anomalous copper values ranging up to 1.47% Cu over 5.2m (Bennett and
Thurston 1977). The Farwell property geology and exploration results can be viewed
at the Farwell Battery and Precious Metals Project.
The Company is also pleased to report an agreement to amend the Farwell
anniversary optional payments due on June 1, 2024 to become due on December 1,
2024. The amendment is subject to regulatory approval. Full details of the amended
anniversary dates follow.
The Farwell Option Amendment
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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
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Further to the Company’s Press Release dated October 3, 2023, the Company wishes
to advise that the Farwell Option Agreement has been further amended on April 29,
2024 pursuant to a Third Amending Agreement (the “Farwell Third Amendment”)
as follows:
1. by extending the date the cash option payment of $50,000 due on June 1, 2024
is payable to December 1, 2024;
2. by extending the date the 400,000 shares are issuable from June 1, 2024 to
December 1, 2024; and
3. by extending the date an aggregate of $480,000 of work expenditures were
due to have been made from June 1, 2024 to December 1, 2024.
All shares to be issued will be subject to a four month and one day hold period from
the date of issuance. The Farwell Third Amendment is subject to TSX Venture
Exchange (“TSX V”) approval.
The Burchell Option Amendment
In addition, further to the Company’s Press Release dated October 3, 2023, the
Company wishes to advise that the Burchell Option Agreement has been further
amended on April 29, 2024 pursuant to a Third Amending Agreement (the “Burchell
Third Amendment”) as follows:
1. by extending the date the cash option payment of $60,000 due on May 1, 2024
is payable to November 1, 2024;
2. by extending the date the 350,000 shares are issuable from May 1, 2024 to
November 1, 2024; and
3. by extending the date an aggregate of $200,000 of work expenditures were
due to have been made from May 1, 2024 to November 1, 2024.
All shares to be issued will be subject to a four month and one day hold period from
the date of issuance. The Burchell Third Amendment is subject to TSX V approval.
A recent article posted on the Bold website provides an overview of chromite
markets that may be accessed on Bold’s Critical and Battery Minerals page.
Bold’s Koper Lake Project
Bold’s Koper Lake Project is located in the Ring of Fire. The Company owns a 10%
carried interest (through to production) in the Black Horse Chromite NI 43-101
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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
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Inferred Resource (the Black Horse) of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of
20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). 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 Wyloo
Metals (formerly Noront Resources Inc.). The Koper Lake claims are located
approximately 300 m from their Eagle’s Nest Ni-Cu Massive Sulphide Deposit that is
in the permit acquisition stage. Chromite, nickel and copper are critical minerals that
will play an important role in the electrification plans for Ontario and the rest of
North America. The Company is encouraged by these ongoing developments in this
emerging critical minerals mining camp.
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 Critical and Battery
Minerals page.
The technical information in this news release was 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.
The Company explores for Battery, Critical and precious Metals in Canada. Bold
is exploring properties located in active gold and base 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
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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
S:\94\94544-Bold\Press Releases\280424 DraftPR Farwell DDH modeling and Option amendments V4.docx
“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
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.