Bold Ventures Provides Update on Koper Lake Project in Northern Ontario’s Ring of Fire Area

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Mining Update

THUNDER BAY – MINING – Bold Ventures Inc. (BOL: TSX.V) has announced an update on the Koper Lake Project located in the Ring of Fire area of the James Bay Lowlands region of Northern Ontario. KWG Resources Inc., the operator of the chromite exploration effort, completed a magnetotelluric survey over portions of the Black Horse Chromite deposit on February 24, 2023. The survey indicated that the two target areas, 1 km (Target 1) and 4 km (Target 2) northeast of the Black Horse Deposit, have distinguished the ultramafic host rock from the enclosing country rock, allowing the results from the two target areas to be interpreted with confidence.

On March 30, 2023, KWG announced that it had received the final report of the magnetotelluric survey, the Quantec Report, which confirmed the existence at depth of the Ring of Fire intrusion and identified targets for further exploration. The survey results are being combined with other geophysical and geological data to create a three-dimensional model of the previously discovered chromite resource and the newly identified mineral exploration targets for chromite mineralization.

Bold owns a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource 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 the right to earn up to an 80% working interest in all other metals.

Chromite, nickel, and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America. Bold Ventures management is encouraged by these ongoing developments in this emerging critical mineral mining camp.

The environmental assessment process for all-weather road access to the Ring of Fire is being developed as three proposed road projects: the Northern Road Link, the Marten Falls Community Access Road, and the Webeque Supply Road. Information and progress regarding these projects may be accessed via the links provided on Bold’s critical and battery metals page.

The technical information in this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.

Bold Ventures Inc. explores for precious, battery, and critical metals in Canada. The company is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario, as well as 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.

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 operations due to the current COVID-19 virus concerns. The scheduling of activities is subject to change due to the COVID-19 pandemic and may affect timing and availability of goods and services for the foreseeable future.

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