Waiver of Bold Subsidies in Koper La

TORONTO, ON/ACCESSWIRE/August 11, 2022 / Bold Ventures Inc. (TSXV:BOL, Financial) (the “Company” or “Bold”) is pleased to announce that, pursuant to its press release dated July 25, 2022, it has granted Fancamp Exploration Ltd. (“Fancamp”) a waiver of the Company’s right of first refusal with respect to their interests in the Koper Lake project in consideration for the receipt of 1,000,000 subordinate voting shares of KWG Resources Ltd. (upon closing of the acquisition agreement) and payment of $10,000 (receipt).

Bold management believes the transaction will benefit all parties as equity interests are more streamlined and working interests are reduced from three to two, simplifying project valuation and consolidation potential.

Bold has a 10% interest in chromite and a 40% working interest in all other metals found in the claims. Bold also has a right of first refusal on a 1% NSR covering all metals found in the group of claims. Any project interest Fancamp receives is outside of and does not encumber Bold’s property. Bold Co-Venturer, a wholly owned subsidiary of Dundee Corporation, has acquired a one-third interest in Bold’s Ring of Fire assets. See the full details of the Lake Koper project here.

In addition, the Company has received regulatory approval for an extension request for 5,040,500 warrants (the “Mandates“) exercisable at $0.10 between August 11, 2022 and September 29, 2022 as part of the private placement financing closed between August 11, 2020 and September 29, 2020 for a period of six months from the original expiration dates. The exercise price has not been changed.

Bold Ventures management believes our suite of battery, critical metals and precious metals exploration projects is an ideal combination of exploration potential to meet future demand (see press release in bold of May 10, 2022). Our target raw materials are composed of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium ( Cr). The list of critical metals and a description of state and federal electrification plans are posted on the Bold website here.

About Bold Ventures Inc.

The company explores precious metals, batteries and critical metals in Canada. Bold is exploring properties located in active gold camps in the Thunder Bay and Wawa areas of Ontario. Bold also owns significant assets located in and around the emerging multi-metal district called the Ring of Fire region, located in the James Bay Lowlands of northern Ontario.

Due to ongoing concerns related to the COVID-19 virus, the Company’s management and contractors are following public guidance and taking recommended actions to protect the health and safety of all personnel while performing operations. Due to the COVID-19 pandemic giving rise to local and national anti-virus measures, the schedule of activities is subject to change. The impacts of COVID-19 may affect the timing and availability of goods and services for the foreseeable future.

For more information about Bold Ventures and our projects, please visit boldventuresinc.com or contact us at 416-864-1456 or email us at [email protected].

“David B. Graham”
David Graham
President and CEO

Neither the 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.

Caution Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, which could 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” , “expects” and similar expressions are intended to identify forward-looking statements. These statements reflect our current beliefs regarding 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 factors discussed in our filings with Canadian securities regulators. If one or more of these risks and uncertainties, such as the actual results of ongoing exploration programs, general risks associated with the mining industry, the price of gold and other metals, currency and interest rates, increased competition and general economic and market factors, occur or if the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated or expected. We do not intend and undertake no obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to place undue reliance on these forward-looking statements.

THE SOURCE: Bold Ventures Inc.

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