THUNDER BAY – BUSINESS – Bold Ventures Inc. (TSXV: BOL) (“Bold” or the “Company”) is pleased to announce that it has commenced a data compilation study of an area within Northwestern Ontario that has been mandated by the Lac des Mille Lacs First Nation (“LdMLFN“). The identification and compilation of resource-related information is part of a strategic initiative to develop knowledge, awareness and understanding of resources for LdMLFN and will be used as a tool for managing their natural resources.
Bold’s technical team is carrying out the data compilation that will include base and precious metals, industrial minerals and materials, aggregate, building stone and peat resources.
J&B Lithium Project
The Company is pleased to report that an exploration permit related to the J&B Lithium project has been issued. This permit allows for stripping, channel sampling and diamond drilling on the Jean claims. An additional permit application covering the Parole East claims is pending (visit www.boldventuresinc.com and select the J&B Project details, maps and charts).
Wilcorp Gold Project
Bold is also pleased to announce an amendment to the Wilcorp Gold Project. The amendment calls for a $2,000 payment due immediately, which has been paid. The anniversary date for the option agreement will be changed to June 1st. A further optional cash payment of $6,000 will be due at that time. The annual optional payment of $8,000 will continue with a due date of June 1st (visit www.boldventuresinc.com and select the Wilcorp Gold Project details, maps and charts).
Stover Gold Project
In other news, the Company reports that the Stover Gold Project option agreement has been amended. The due date for the 1st-anniversary optional cash payment of $20,000 has been extended to May 31, 2019. The 1st anniversary payment of $100,000 in cash and or stock has been amended to provide for the settlement of $70,000 of the debt immediately in consideration for the issuance of 1,400,000 shares of the Company, and the settlement of the remaining $30,000 for stock on or before May 31, 2019, subject to TSX Venture Exchange approval (visit www.boldventuresinc.com and select the Stover Gold Project details, maps and charts). The debt settlement shares to be issued will be subject to a 4-month hold period from the date of issuance.
About Bold Ventures Inc.
The Company explores for minerals in Ontario and Québec. In Ontario, Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 18 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 the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage. Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in the Thunder Bay Mining Division. The Company and Lac des Mille Lacs First Nation are 50/50 joint venture partners in the Traxxin Extension Gold Project located 130 km west of Thunder Bay. The parties have also entered into a strategic partnership agreement related to resource development. In Québec, Bold’s primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec.