Bold Ventures Signs Farwell Gold and Base Metal Option Agreement-Closes Non-Brokered Private Placement
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 Signs Farwell Gold and Base Metal Option
Agreement-Closes Non-Brokered Private Placement
Not for distribution to U.S. Newswire Services or for dissemination in the United States
Toronto, Ontario March 26, 2020 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or “Bold”)
is pleased to announce it has signed the formal Option Agreement to acquire the Farwell Gold and
Base Metal property (“Farwell”).
The Farwell claims are located approximately 55 km northwest of Wawa, Ontario. They are road
accessible and consist of 103 Cell claims, 6 Multi-Cell claims and 6 Boundary claims comprising
approximately 3993 ha or 9867 acres. Wesdome Gold Mines Mishi Open Pit operation, part of the
larger Eagle River Complex that includes the Eagle River underground gold mine, lies 5 km south
of the Farwell claim group. The Eagle River Mine is situated approximately 25 km to the south of
the subject claims (see Bold news release dated January 6, 2020).
The Farwell Property exhibits several desirable attributes. It is a large road-accessible property in a
proven gold camp with gold-bearing quartz veins in iron formation along the western extension of
a major deformation zone. The presence of deformed ‘Timiskaming’ style conglomerates along the
gold mineralization trend (i.e. Kirkland Lake, Geraldton) is an attractive exploration target.
Volcanogenic Massive Sulphide (VMS) mineralization of anomalous copper (Cu), zinc (Zn), lead
(Pb) and gold (Au) is associated with a mafic to felsic volcanic sequence.
The claims are host to several gold and base metal anomalies and occurrences that have yet to be
fully explored. The latest recorded exploration work on the property occurred in 2008. A report
and maps describing the property, geology and historical work can be found at
www.boldventuresinc.com within the Project Details section, Farwell, Ontario.
Bold has the option to earn a 100% interest in the Farwell claims by paying the aggregate sum of
$225,000 in cash option payments, issuing an aggregate of 1,650,000 common shares of Bold and
completing a total of $1,000,000 of exploration work on the claims over a four year period. On
closing, the Company will pay the vendors $20,000 cash and 200,000 shares. The first year’s
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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
exploration work expenditure is $90,000. The vendors will retain a 3% net smelter royalty in the
Farwell Property. Bold will have the right to buy back a 1.5% net smelter royalty in consideration
for the payment of $2 million. The Company also has the right of first refusal to purchase the
remaining 1.5% NSR. The Option Agreement is subject to TSX Venture Exchange approval. Any
common shares issued pursuant to the Option Agreement will be subject to a statutory four month
hold period from the date of issuance.
For a full description of the Option agreement visit www.boldventuresinc.com and select the
Farwell Project Details on the Farwell, Ontario projects page.
The Company also announces the closing of the final tranche of its non-brokered private placement
that was announced in a Bold news release dated February 5, 2020. The Company placed 300,000
working capital units (the “WC Units”) for proceeds of $15,000. Each WC Unit was priced at
$0.05 and comprises one (1) common share of the Company 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 March 25, 2022. The Company placed an aggregate of
2,745,000 WC Units pursuant to the Offering for total gross proceeds of $137,500. The securities
issued pursuant to the final closing are subject to a hold period expiring on July 26, 2020. The
proceeds from the Offering will be used for general working capital, property acquisitions,
exploration and expenses of the Offering.
Bold management and personnel are following the mandated health advisories
during the current coronavirus pandemic. The Company is currently planning the 2020
exploration program for the Farwell Project and will monitor the current Covid-19 crisis to
ascertain the most appropriate schedule for field activities. The Company and its projects,
including the Farwell Gold and Base Metal Project, may be viewed at www.boldventuresinc.com .
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 Base and Precious metals in Canada. Bold has options to earn a 100%
interest in the Farwell Gold Base Metals project located approx. 55km northwest of Wawa, Ontario
and the Wilcorp Gold Project located 14 km east northeast of Atikokan, Ontario. Bold and its
subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 15 claim groups in
and around the Ring of Fire area of the James Bay Lowlands. The Company has also earned a 10%
carried interest in all chromite resources and a 40% working interest in all other metals at the
Koper Lake Project and has the option to earn an additional 10% carried interest in chromite and
40% of all other metals. The Koper Lake Project is located within the Ring of Fire and directly
adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting
stage.
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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
For additional information about Bold Ventures and our projects please visit
www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.
“David B Graham”
David B. 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.