Bold Ventures Signs Letter Agreement to Acquire the Traxxin Gold Property-Engages Investing News Network and Launches 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 Letter Agreement to Acquire
the Traxxin Gold Property-Engages Investing
News Network and Launches Non-Brokered
Private Placement
Not for distribution to U.S. Newswire Services or for dissemination in the United States
Toronto, Ontario, June 18, 2020 – Bold Ventures Inc. (BOL: TSX.V) (the
“Company” or “Bold”) is pleased to announce that it has signed a letter
agreement to option the Traxxin Gold Property. The Traxxin Gold Project
is located to the south and contiguous with the Traxxin Extension Gold
Project claims, held 50% by Bold and 50% by Lac des Milles Lacs First
Nation (“LdMLFN”). Bold is the Operator of the Joint Venture.
LdMLFN and Bold (“the Optionee”) have the option to earn a 100%
interest over a three-year period by paying the aggregate sum of
$150,000 cash, issuing an aggregate of 1,000,000 common shares of Bold
and completing a total of $250,000 of exploration work on the claims
over a three year period. On signing of the formal Option Agreement a
payment of $20,000 cash and 200,000 common shares will be paid to the
vendor. The vendor will retain a 2% Net Smelter Royalty (NSR) of which
the Optionee has the right to purchase a 1% NSR for $1 million leaving a
2
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
1% NSR in favour of the vendor. The transaction is subject to TSX
Venture Exchange (“TSXV”) approval and the execution of the formal
Option Agreement and financing.
The Traxxin Gold Project
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario.
The claims are road accessible via Trans Canada Highway 11. Local
Infrastructure includes rail, power and an experienced mineral exploration
workforce and mining supply, all located within hours of the property.
Combined with the Traxxin Extension claims held by Bold and LdMLFN, the
claim group is comprised of 151 claim cells and boundary cells that have an
area of approximately 2,224 hectares or 5,496 acres.
Traxxin Gold Project Highlights
The claims host a well-defined gold-bearing structure along a northeast splay
of the Quetico Fault.
Recent trenching and diamond drilling (2018) have identified a gold-bearing
zone of at least 300 m in strike length associated with a well-defined sheared
quartz vein surface exposure from 15 to 30 m wide.
Diamond drilling results include 4.76 g/t Au over 3.8 m (Hole BED-17-016)
and 1.06 g/t Au over 22.2 M (Hole BED-17-005) and 37.3 g/t Au over 1.0m
(Hole BED-17- 003) (Sims 2019).
The gold bearing horizon is open along strike in both directions. The 2017
and 2018 diamond drilling was near surface and tested above 100m. One
3
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
hole (BED-17-022) in the central part of the zone did penetrate to almost
150m and intercepted the zone where it remains open at depth.
The main zone discovered in 2017 is located in the Marmion Lake Batholith,
host to the Agnico Eagle’s Hammond Reef deposit of 5.31 Moz Au, which
includes a Measured Resource of 75.3 Mt @ 0.75 g/t Au for 4.25 Moz and an
Inferred Resource of 54.1 Mt @ 0.61 g/t Au for 1.06 Moz (Puumala 2020).
The mineralization and resources hosted on the above property is not necessarily
indicative of the mineralization, if any, hosted on the Company’s property
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.
The Non-Brokered Private Placement
Bold is commencing a non-brokered private placement offering of up to 4,000,000
working capital units (the “WC Units ”) of the Company at a price of $0.05 per WC
Unit for up to $200,000 (the “WC Offering”).
Each WC Unit 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
two (2) years following the Closing of the WC Offering. The proceeds from the WC
Offering will be used for general working capital, property acquisition, exploration
and expenses of the offering.
Additionally, the Company is commencing a non-brokered private placement offering
of up to 4,000,000 Flow-Through Shares ( “FT Shares”) at a price of $0.075 per FT
Share for up to $300,000 ( “FT Offering”). The proceeds of the FT Offering will be
used to explore the Company’s properties and will qualify as Canadian Exploration
Expenses.
In connection with the WC Offering and the FT Offering (collectively the “Offering”),
the Company may pay a finder’s fee to qualified finders in consideration for their
assistance with the Offering. The finder’s fees may be payable in cash or securities of
Bold at the discretion of the Company and in accordance with the rules of the TSXV.
4
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
All securities to be issued pursuant to the Offering are subject to a statutory four-
month and one day hold period and regulatory approval. Please visit the Bold website
at www.boldventuresinc.com and see our recent news and project information.
Investing News Network
Bold management is also pleased to announce that it has entered into an
advertising and investor awareness campaign with Dig Media Inc., dba
Investing News Network (“INN”). Based in Vancouver, Canada. INN has
offices in Toronto, New York and San Francisco. INN is dedicated to providing
independent news and education to investors since 2007. The term of the
engagement is six months with the option to renew on the same terms for
an additional six months. The cost of the campaign is $19,000 payable as to
$2,000 in cash immediately and $7,500 in common shares of the Company
when the advertising campaign commences with a further $2000 in cash
and $7500 in common shares of the Company payable September 8, 2020.
Per TSX Venture Policy 4.3 (Section 6.1), the deemed price of the
securities to be issued will be determined after the date services are
provided to the Company in each period and be based upon the
undiscounted market price of the Company’s common shares at the
relevant time. INN will expand Bold’s name recognition and corporate
message via digital and social media platforms resulting in greater market
awareness of Bold’s high potential projects, successful track record of
discoveries and management experience.
About Bold Ventures Inc.
The Company explores for Base and Precious metals in Canada. Bold has the
option to earn a 100% interest in the Wilcorp gold property located approximately
14 km east of the town of Atikokan in Northwestern Ontario. Bold also has the
option to earn a 100% interest in the Farwell Gold Base Metals project located
approx. 55km northwest of Wawa, Ontario. Bold and its subsidiary Rencore
Resources Ltd. have extensive holdings comprised of over 15 claim groups in and
5
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
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.
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 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.