Toronto, Ontario–(Newsfile Corp. – March 6, 2018) – Bold Ventures Inc. (TSXV: BOL) (“Bold” or the “Company”) is pleased to note that KWG Resources Inc. (“KWG”) has announced a Limited Partnership financing that is aimed at funding the next stage of its development plan in the “Ring of Fire” area of the James Bay Lowlands in Northern Ontario (see KWG news release dated March 5, 2018). A substantial portion of the proposed financing will be applied to the Black Horse Chromite Joint Venture (“BHJV”) that exists between Bold, KWG and Fancamp Exploration Ltd. (“Fancamp”).
The BHJV is part of Bold’s Koper Lake Project that is under option from Fancamp Exploration Ltd. whereby Bold has the option to earn up to a 100% interest in the Koper Lake Project subject to a Gross Metal Royalty retained by Fancamp. In turn, by funding Bold’s earn-in requirements, KWG has the option to earn up to an 80% working interest in all chromite found on the property (leaving Bold with up to a 20% carried interest in all chromite) and up to a 20% working interest in all other metals (leaving Bold with up to an 80% working interest in all other metals). See news releases issued March 24, 2015 and October 29, 2015.
To date, Bold has earned a 50% interest in the Koper Lake project through the expenditures made on the Koper Lake Project by KWG. As a result Bold has retained a 10% carried interest in chromite and a 40% working interest in all other metals found within the property. Formation of the Black Horse Joint Venture was announced in a news release dated October 14, 2016.
Should KWG be successful in completing the earn-in provisions of Bold’s option agreement with Fancamp, Bold will earn up to a 20% carried interest in chromite and an 80% working interest in all other metals.
The Koper Lake Project is very well located adjacent to Noront Resources Ltd.’s Eagles Nest nickel-copper massive sulphide deposit and Blackbird chromite deposit that are currently in the permit acquisition stage.
Bold is also pleased to announce it has posted an updated fact sheet on our website at www.boldventuresinc.com.
About Bold Ventures Inc.
In Ontario, the Company has recently optioned the Stover Gold Property covering approximately 20 kms of the Goudreau-Missanabie Shear Zone that is host to numerous past and present gold producers. At the Koper Lake Project, centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit, the Company has earned a 10% carried interest in the Blackhorse Chromite resource and a 40% working interest in all other metals with the opportunity to earn an additional 10% carried interest in the Black Horse chromite and an additional 40% working interest in all other metals. 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. Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR). 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.
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”
President and CEO
Chairman of the Board
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.