Bold Ventures Provides Update of Activities in the Ring of Fire
Toronto, Ontario – March 1, 2012 – Bold Ventures Inc. (TSX VENTURE:BOL) (“Bold” or the “Company”) Management of Bold would like to take this opportunity to thank its shareholders for the unanimous support received in the recent proxy solicitation in support of the business combination that was concluded on February 13, 2012. A robust turnout of shareholder votes has confirmed management’s belief that the combined companies will emerge as an even more effective exploration vehicle positioned for the ultimate success of an economic mineral discovery. We are pleased to provide an update of activities in the James Bay Lowlands.
As of February 15th, the Company began an approximately 1,275 metre 9-10 hole diamond drilling program on its REN8 and Area 55 claim groups. Both claim groups are located to the west of the main Ring of Fire area of the James Bay Lowlands. This program is designed to test a series of airborne anomalies that were located during a VTEM (Versatile Time Domain Electromagnetic) survey carried out for the Company by Geotech Ltd., of Aurora, in late 2010. Bold has previously executed an exploration agreement with Kasabonika Lake First Nation and is presently employing members from that community.The Company is also planning for a drill program at the Area 52, 53, 54 and 56 claim groups that host a number of high priority anomalies. Negotiations with local First Nation people have been steadily progressing over the last year and the Company hopes to commence drilling on these claims later this year.
Additional to these activities, the Company is developing its 2012 airborne survey program relating to its ongoing Ring of Fire project with a subsidiary of Dundee Corporation (see news release dated May 31, 2011 for terms of this agreement). It is anticipated that this survey will be carried out this summer/fall. The goal of the survey is to continue hunting for large base and precious metals deposits in under explored areas of Northern Ontario and the James Bay Lowlands.
On behalf of the board of directors of Bold Ventures Inc.
Richard E. Nemis, President and Chief Executive Officer
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.
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.
Bold Ventures Inc.