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Toronto, Ontario--(Newsfile Corp. - January 23, 2025) - Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that the Company has staked 208 single cell claims covering 4180 hectares. The property, named the Springpole East Gold Project, is located 120 km east-northeast of the town of Red Lake, Ontario, and 9 km east of the Springpole Gold Deposit of First Mining Gold Corp ("First Mining") (Figure 1), which contains a resource of 4.6 Moz Au @ 0.94 g/t Au in the Indicated Mineral Resource category and 0.3 Moz Au @ 0.54 g/t Au in the Inferred Mineral Resources category (First Mining website).
Additionally, the Canamer or Birch Lake East Occurrence is located approximately 1.3 km west of the Property boundary, where First Mining obtained a result of 15.3 g/t Au from a grab sample in 2022 (First Mining January 17, 2023 news release). The showing is hosted in banded iron formation, a rock type which has been mapped in the northwest part of the Springpole East Property, corresponding to prominent magnetic anomalies (see Figure 2).
The Property area was most recently explored in 2022 by GoldON Resources Ltd. ("GoldON"), which carried out a high-resolution airborne magnetic survey as well as prospecting programs, resulting in the discovery of angular boulders of altered granitic rock returning from 191 to 1270 ppb Au (GoldON October 9, 2022 news release). From an historical perspective the property area has seen very little systematic exploration work (see Figure 2).
The Company also reports that it has granted 2,200,000 options to Bold's Management. Directors, Consultants and Advisors. The options will expire in five years and have an exercise price of 7 cents ($0.07) representing a 40% premium to the closing price of the Company's common shares on January 22, 2025. These newly issued options bring the total issued to 74% of the available options under the Company's Stock Option Plan.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person (QP) for the purposes of NI 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold Critical and Battery Minerals page.